Owning a rental property is a big investment. Having great tenants makes all the difference in the world. As a landlord, protecting yourself and your investment is imperative. In our latest blog, we will discuss some ways to screen your prospective renters.
Tenant screening can seem like a lot of pressure if you aren’t familiar with the process! Renting to the right people is extremely important as a landlord
When listing a property for rent in Kansas City, it’s crucial to provide detailed information to attract the right tenants. Highlight any unique amenities to capture interest and reduce inquiries from unqualified individuals. Clearly state the monthly rent, deposit amount, background check fee, and any other pertinent costs. By being transparent about what the rental offers and its associated expenses, you can streamline the process and deter unsuitable candidates. Save time for both parties involved by setting clear expectations upfront.
Tenant Screening in Kansas City: What’s Involved?
First Impressions Can Say A Lot
When meeting potential tenants for the first time, it’s crucial to observe important details. Take note of their punctuality and the condition of their car – is it clean and well-maintained? Pay attention to how they present themselves – are they organized and put-together, or do they seem scattered and unprepared? Listen to the questions they ask and the overall impression they give. While it’s important not to discriminate, these observations can help you gauge the type of tenant they may be. Encourage all applicants to apply, and remember not to make a final decision based solely on the initial meeting.
Ask Questions
When showing a property, there are several important questions you can ask potential tenants. Inquire about their pet ownership status, the number of occupants, and their monthly income, which ideally should be at least three times the rental cost. It’s also crucial to determine their intended move-in date, especially if they need to give notice to their current landlord and may require 30 days or more before moving in.
While conducting interviews, it’s essential to be mindful of the questions you ask. Avoid inquiries about the number of children, as such “familial” questions are prohibited under fair housing laws that protect individuals from discrimination based on race, color, national origin, religion, sex, familial status, or disability. For more information on Protected Classes, you can refer to the HUD website.
The Process
- When leasing a property in Kansas City, MO, make sure to thoroughly review the lease agreement with potential tenants to ensure understanding of all terms and rules.
- Require a detailed rental application that includes personal information, date of birth, employment details, social security number, rental history, references, and signatures. Also, have the applicant acknowledge that background and credit checks will be conducted.
- Utilize third-party services to conduct comprehensive background and credit checks on prospective tenants. Look out for any red flags and ensure that the applicant meets all your rental criteria in Kansas City, MO [market_zip].
- Contact all provided references and previous landlords for insights into the applicant’s character. Ask specific questions to gain a thorough understanding of their rental history and reliability.
- Conduct your own research by checking social media profiles to further evaluate the applicant. Verify that the information provided aligns with their online presence, including employment details on platforms like LinkedIn.
When leasing a property, it’s essential to conduct this process for all prospective tenants. You have the option to decide on charging an application fee. Many property owners believe that the fee can discourage individuals who may not meet the screening criteria. Consider the expenses involved in obtaining the necessary reports before making a decision.
When to Say No
When considering potential tenants, it’s crucial to check for any history of eviction. While it may seem strict, dealing with evictions can be a nightmare that no landlord wants to face. If red flags appear on credit or background checks, don’t hesitate to terminate the application.
Although tenant screening may feel laborious and time-intensive, it is a necessary step that can ultimately save you valuable time and finances in the future. Remember, problematic tenants have the potential to turn a promising investment into a nightmare, causing unnecessary stress and financial burden.