Did you know that over 2,500 individuals are entering the rental market every day?
As a result of this large number, it’s important to take the necessary precautions in order to secure the right renters and to protect your property in Florida's First Coast
In reality, it doesn’t matter if you are a new landlord or a seasoned one in the First Coast, you need to screen each one of your tenants. More effort at the start could save you a lot of agony and money in the end.
Putting together an effective screening process for your tenants in Florida's First Coast is a start. A screening process will help every landlord find more suitable renters for their property. This process doesn’t need to be difficult. You will want to identify the requirements needed for this process and follow through with it.
Creating an effective checklist will allow you to complete the screening process within two days and have your renters sign the lease and move in as soon as possible. An operative screening process will reassure you that your tenants are quality renters and they will be able to pay their rent on time.
First Step: Meet Your Potential Tenant(s)
The meet and greet is the first step in your tenant screening process. You will want to set up a date and time for your guests to come and take a look at your place or have your property management company arrange this.
This will give you an idea of who your prospective tenants are and what their current situation is like.
Does the tenant sound sincere? Ask some questions about their current situation and what they do and enjoy in their spare time.
At the end of the day, you want to see whether or not you can trust this person and if they are reliable. If you go through a property management company they will have experience with this process and be able to gauge whether or not they seem sincere and trusting.
Look Over Their Application
Take a close look at their rental application and make sure you verify their identity with a government piece of identification. This will prove to you that the person who is applying for your rental is who they say they are.
Always get the renters full name and birthday. You can ask to do a credit check and get a copy of their pay stub for the previous two months. This will give you an idea as to whether or not they can make the rental payments each month.
Social media is another way to look into the tenant and see how they present themselves to the public. Many people don’t know that their potential landlord could find them on social media. You could also ask for some contact information regarding their workplace and previous residence so you can get in contact with coworkers and their previous landlord.
This will allow you to call and get an opinion on the person regarding their presence at work and if they were able to make their payments on time.
Make the Call
Now is the time to make the final call and choose which tenant you want to rent to. Based on all the information you have received during your tenant screening process; this will allow you to verify the person and get more clarity.
Depending on whether or not you are renting for long-term or short-term, this will distinguish how often you have to screen tenants. After a couple of screenings, you will have this process-perfected. Hopefully, you don’t have to do this process too often and if so, I would strongly recommend hiring a property management company to help you out.
Why Hire a Property Management Company?
A property management company will do all this for you. They have their own applications and screening process to find quality renters for every property.
Some property owners stay away from purchasing income properties due to the work needed in order to find renters. Aside from purchasing the property in the First Coast, property managers will take on the responsibilities that make your job as a property manager difficult.
With our experience in property management, we were able to outline a quick guide to an effective tenant screening process in Florida's First Coast. This should give you an idea of how to go about finding your own tenants and how to authenticate their information.