Tenant Screening 101: How to Find the Best Tenant for Your Property

As a landlord, one of your most important tasks is tenant screening. Finding the right tenant for your property can significantly affect your rental income and overall experience as a landlord. In this blog post, we’ll cover the qualities you should look for in prospective tenants and the apps you can use to check credit. We’ll also provide some tenant screening questions that you can ask to help streamline the process.

What is tenant screening?

Tenant screening is the process landlords or property managers use to evaluate potential renters before approving their application. It involves collecting and verifying information about applicants to determine whether they’re likely to be reliable, responsible tenants who will pay rent on time and take care of the property.

What is a tenant screening report?

A tenant screening report is a comprehensive document that compiles important information about a potential renter to help landlords make informed decisions about approving rental applications.

These reports typically include:

• Credit history and credit score to assess financial responsibility
• Criminal background check results at county, state, and federal levels
• Eviction history search to identify previous rental issues
• Income verification to confirm the applicant can afford the rent
• Employment verification to establish job stability
• Previous rental history and landlord references
• Identity verification to prevent fraud

Landlords can obtain these reports through tenant screening services, which collect this information from various databases and credit bureaus. Some services offer different levels of reports, from basic credit checks to comprehensive packages that include all the elements listed above.

How to screen tenants for a rental property

Create a clear rental application

Design an application that collects essential information including full contact details, Social Security number (for background checks), employment history and income, previous addresses and landlords, references, and authorization to run credit and background checks.

Verify income and employment

Request pay stubs, W-2 forms, or tax returns and call their employer to confirm employment status, ensuring their income is typically 2.5-3x the monthly rent.

Run credit checks

Review credit score (aim for 650+), check payment history and debt levels, and look for bankruptcies, collections, or judgments.

Conduct background checks

Examine criminal history screening, eviction records, and sex offender registry.

Contact references

Call previous landlords (at least two), ask about payment history, property care, and if they would rent to them again, and be wary if only personal references are provided.

Meet applicants in person

Schedule property viewings, observe their punctuality and communication, and note questions they ask about the property.

Comply with fair housing laws

Apply consistent criteria to all applicants, document your screening process, and never discriminate based on protected characteristics.

Let a property management company handle the process

This one is easy, just let a property management company handle the entire work. We have 2 decades of expertise in property management, we’ll find the best tenants for your long-term rental.

Qualities to Look for in Prospective Tenants

The ideal tenant for you may not be the ideal tenant for someone else, but there are some qualities that most landlords want to see in tenants. Here are some of the qualities that you should look for when tenant screening:

Ability to Pay Rent on Time

It is undisputed that all landlords want a tenant that can pay rent on time. Some signs of paying rent on time include a good credit score and proof of steady and reliable income. However, not all tenants are perfect and may have run into trouble paying the rent at least once for various reasons. Some may even have an eviction on their record, making it difficult to obtain a lease.

Willingness to Communicate

You will also want communicative tenants who let you know if something is going on, such as if the property needs repairs. This will help you to maintain the property and ensure that any issues are addressed promptly.

Clean Criminal Record

You will also want tenants who have a clean criminal record. This will ensure that your property does not become a crime scene or have a reputation in the neighborhood.

Cleanliness

Tenants who keep the property clean are desirable for landlords. This will help you maintain your property’s value and make it easier to rent to new tenants.

Apps for Checking Credit

Many landlords use apps to check the credit of their prospective tenants. Some of those apps include RentPrep, TransUnion SmartMove, and Experian. These apps provide services such as eviction history, criminal background checks, credit reports, and credit scores.

However, remember that these may not tell the whole story of your prospective tenants, and you may want to talk to your prospective tenants as part of the tenant screening process.

Tenant Screening Questions

Here are some questions that you can ask when tenant screening:

1. Do you have pets?
2. Why are you moving?
3. What is your monthly income?
4. How many people will be living on the property?
5. When would you like to move into the property?

As you narrow down your tenant screening list, you can ask more detailed questions about your prospective tenants. Ultimately, you want to find the best tenant for your property, which can be done when your tenant screening experience is streamlined and straightforward. Once you’ve approved them, it’s time to learn how to collect the rent.

We’ve been screening applicants for years. We know what to look for and what questions to ask. Call us at 407 933 2367 or in the UK at 0161-300-9595 or email: broker@renterschoicehomes.com.

By looking for tenants with the qualities mentioned above, using apps to check credit, and asking the right questions during tenant screening, we can increase your chances of finding the best tenant for your property.