Why is so important to do Tenant Screening well?
Updated: Jan 12
Well, in simple words, because it gives Landlord a higher chance to have an excellent tenant most likely to not go into default with the payments. But, is all Tenant Screening the same? And does your Property Manager actually review it deeply and correctly? Let me tell you, not every manager does it right.
When I started up, I didn’t even know what Tenant Screening meant or even how to do it so I actually did it wrongly the first times until I learned the hard way that Tenant Screening it just isn’t something you want to underestimate.
Today, at EverRealty, as part of our signature Property Management service in Orlando, we make sure that every Prospect Tenant makes a full and complete application that includes Background Check for Criminal and Eviction Records along with a complete Credit Report with Credit Score, Accounts and Collections to then, be reviewed by our COO or one of our trained managers.
Once the application is submitted, the first step it’s actually given by our software that provides us with a recommendation including a score on the prospect tenant to guides us into whether this prospect tenant is a quality tenant or not, but the software can’t see everything. So, either our COO or a trained manager will review it in detail before a final decision is made, which gives way to a higher chance of success in placing just the right tenants.
I strongly believe Tenant Screening has been key in our success allowing us to have and maintain a below 5% Evictions' rate in our whole portfolio.
Luciano De Jesus, VP.