HomeVestors Knows How To Properly Screen Tenants

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Screening tenants is important for rental property owners who want to ensure that their tenants will pay the rent on time and remain trouble free.

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years. The company knows that rental property owners who take the time to screen tenants generally have fewer problems over the long-term and earn greater profits.

In order to screen tenants, many different parameters can be used. Most rental property owners request a copy of a credit report, a criminal background report and employment history. While these three items can give a rental property owner a fair assessment of a potential tenant, these all cost money and time. Most potential renters expect these three checks and would be surprised if these are not included in the accepting process. This can give potential renters the feeling that an apartment is run professionally and that they won’t have to deal with unruly neighbors.

Rental property owners who use outside companies to screen tenants end up paying a great deal, but can receive many more reports in order to verify a tenant’s records. These include, the credit report, criminal background report, state criminal check, nationwide criminal check, county criminal check, global check, eviction reports, statewide evictions, nationwide evictions, tax return verifications, driver’s license history, employment verification, and social security number verification.

All of these verifications should certainly give a rental property owner a good understanding of whom they are dealing with. Unfortunately, in order to screen tenants on this level,it is likely to cost a great deal. Consider passing the costs down to the tenants themselves, as many already do for obtaining a credit report and criminal background verification.

When a tenant has to pay to have their credit report pulled, they generally think twice about applying and this keeps most bad apples away. Rental properties that don’t pull a credit report are asking for problems from the beginning. These investors who choose not to screen tenants are basically saying that anyone with a down payment and the first month’s rent money are able to call this place home. While this might be acceptable for rental properties located in undesirable locations, it certainly isn’t acceptable in most places.

Those residential property owners who take the time and money to screen tenants make a logical choice that is likely to keep the rent money coming in every month. Show tenants that they are in a group of others who are responsible and like-minded.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties. Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community. In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level of franchisee satisfaction. For more information, visit www.HomeVestors.com.

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