With more and more investors buying single family homes with the intent to rent, they must keep in mind property, people and perception. Landlords and property management companies are looking for well-maintained properties in ideal locations that can quickly be converted for the rental market. Tenant screening should always be a part of the rental application process, but may even be more important for single family home rentals as opposed to multi-family rental units. The single family property alone needs to be profitable and needs good tenants that are great stewards of the property and also are great neighbors in the community. This is why for these rentals all the tenant background checks should be performed including credit check, criminal background check, sex offender registry search, eviction check and even personal references.
Landlords looking for a return on investment in renting single family homes need to be patient, not just with the time for payoff but also for waiting for the right tenants. Bad tenants can easily turn a profitable venture into a financial disaster that could lead to eviction which means legal fees and lost revenue and possibly even property damage. It is imperative that landlords renting single family dwellings perform thorough tenant background checks and us a professional third party tenant screening company to do it.
Persistence in conducting tenant checks is crucial for single family rentals which means the owner/manager of the property must be patient and not sign a lease with the first warm body looking to rent. Patience in renting is key as once as the right tenant arrives everything else will fall into place the rental unit will become a profitable asset. Picking the most fiscally sound renters that have no criminal history or previous evictions and also has strong positive reference checks is the path to property payoff. To learn more about persistence, patience and payoff when it comes to renting single family dwellings please read recent TenantScreeningUSA.com press release