No property investor would buy a house without looking at it first. It wouldn't make sense. And the same is true for your tenants. Accepting a tenant without doing some checks is a risky option and could land you with problems.
That's why every landlord should carry out tenant screening. Read on to learn why the smart way of doing this is to hire a professional screening service in Portland, OR.
1. It's the Most Comprehensive Approach
The little details matter with tenant screening. Overlooking something could land you with the wrong tenant.
That's why a professional service can help. They offer more comprehensive checks than you may be able to handle yourself.
For example, professional screening services often include formal credit checks with the relevant agencies. So you will get information about whether the tenant will likely be reliable with their monthly rent payments.
A screening service will also check whether a tenant has a criminal history.
Most importantly, the checks will ensure that the tenant has the means to pay. So, the service will examine their employment record and seek out the tenant's payment history from past landlords.
All this helps reassure you that you're handing your property keys to high-quality tenants.
2. It Helps You Stay Compliant
There are legal ramifications to screening services. You have to protect people's privacy, use above-board methods for a tenant background check, and follow the law (such as operating non-discriminatory screening practices).
All of that requires a detailed understanding of existing housing laws. It also means keeping tabs on new legal changes that could impact how you screen tenants.
It's hard for landlords to grapple with the legal aspects alone, especially if property management isn't your day job.
Using a professional service, you get the support of experts who understand this legal small print. They can help protect your property and protect you from litigation.
Laws vary from state to state, so you must choose screening services from a property management company that is local to you, like our team in Portland.
3. It Saves Time
Tenant screening is one of many responsibilities you have as a landlord.
However, it can become time-consuming. It involves reviewing the finer details of tenants' financial and employment records, making requests to third parties, and monitoring progress.
It's also something you need to do quickly because a delay in screening could lose you a potential tenant or push back the start date for the lease.
Using a professional screening service is an advantage here. These teams have existing processes in place. For example, they will already have accounts with credit agencies to get started on the financial checks.
Professional teams also use time-saving tenant screening software.
Tenant Screening: Making It Work for You
Tenant screening is a critical step in any lease agreement. Without it, you risk selecting the wrong tenant and problems such as evictions and missing rent payments.
That's why a professional service is crucial. PropM Inc. in Portland, Oregon, has a thorough screening service operated by an experienced team. Book your screening now by completing this form.