What to Look for When Screening Tenants

Property Managers, Ft. Worth renters, and everyone in between know that most landlords do some background check on tenants before turning over the keys. So it’s expected that you will request certain documents. What should you look for specifically once you have them, however, to maximize protection of you and your property?

The Pay Stub: Check the applicant’s income and confirm that it is 3X the monthly rent. So if your rent is $1,000/month, you want to see a monthly net income (that’s after taxes) of $3,000.

Credit Check: Look specifically for evidence of collections and evictions. You may not want a repeat customer who doesn’t pay. Also, be aware that evictions typically show up on credit reports 30 to 60 days after a judgment, so if they are running from a recent eviction you may not see it here.

Previous Landlords: Call your fellow Fort Worth property management guru to ask about the applicant’s history. Confirm the rental happened, that the applicant took care of the property as agreed upon, and that they left on good terms.

Employment History: This is a fact check to confirm the pay stub you received is accurate. Is your applicant actually employed at the company they indicated? A simple yes/no question to the HR department will do.

Criminal History: You may uncover the typical parking or speeding tickets or something more tumultuous. Is there anything that raises doubt in your mind about an applicant’s ability to keep the peace and not disrupt other tenants?

In the end, whether you decide to screen, be consistent. If your Fort Worth property management activities involve carefully researching and rejecting applicants, you should be prepared to document and explain your reasoning to avoid claims of discrimination. Specialized RPM has the experience to take care of all your tenant application needs with thorough screenings and legal understanding. Put our proven process to work for you today. http://www.specializedrpm.com/