When searching for tenants for your property, it is critical that you thoroughly screen your applicants to avoid uncomfortable situations and negative experiences with them in the future. Some homeowners prefer to shortcut, or skip altogether, the screening process in order to avoid delays in renting their property; however, this can backfire and cause homeowners significant headaches and costs in the long run.

By not thoroughly screening your tenants, you are putting your property, rental income, and neighborhood in danger. Although you may save time in the short-term, it could be very expensive in the long run. There are a number of good and low-cost screening services that can give you peace of mind when selecting your future tenants.

One of the most important aspects of the screening process is determining the current financial situation of the applicants. A screening company should provide you with a full credit report, which will include the applicants’ credit score. As a general rule, a good credit score is anything above 650. You can also use the credit report to determine if the applicants have a history of paying his/her/their bills on time. If the applicants have a tendency to pay bills late, this could be an indication that they may not pay rent on time.

The screening process should also include a criminal background check. This is critical because you don’t want to put your property (or your neighbors) at risk. The criminal report may include anything from minor traffic violations to more serious crimes.

Last but not least, the screening process should show whether the applicants have been evicted in the past. Evictions can be very costly and time-consuming. Analyzing the applicants’ eviction report is the best way to avoid an eviction in the future.

We have our own screening process at GTP, and we analyze every detail from each applicant so that the homeowners can choose the best renter for their property. GTP clients can rest easy knowing that their tenants will take care of the property, will not be a danger to their neighbors, and will pay their monthly rent on time.