A property management company’s top two tasks are keeping their rentals occupied and protecting owners’ assets. Over the last 30 years, DenCO Property Management & Sales (DenCO) has perfected a tenant screening process that differentiates good tenants from those who could become problematic. Our screening verifies responsible individuals who will make good rental prospects.
Tenant screening is a discovery process that allows property managers to delve into the background of rental applicants to determine if they are a good fit or not. We base our screening on information supplied by the prospective tenant using a form on the DenCO website. The rental application includes a release signed by the applicant that authorizes us to investigate their credit, employment, rental, and personal history using their social security number. We process this information to determine employment status, creditworthiness, and gain insights into behaviors exhibited at previous residences.
What are the Characteristics of a Good Tenant?
Please note that there is no foolproof way to determine whether or not an applicant will be an ideal tenant. That is where DenCO’s property management experience comes in. Thirty years of rental property experience helps us decide whether a tenant will work or not. DenCO believes that a good tenant will have the following characteristics:
Ability to Pay – We use their references to confirm employment and income. Good rental prospects have a stable job resume, a decent credit rating, and an income at least three times more than the monthly rent.
References – The potential tenant should have good references from previous property managers. Past landlords will tell if the individual met their lease responsibilities, paid rent on time, and kept the property clean.
Criminal Record – Potential tenants should have a clean criminal background.
Previous Evictions – Evictions are unpleasant, time-consuming, and cost money, so it is best to avoid renters with prior expulsions.
Ask The Right Questions
When inquiring about a potential tenant, asking the right questions when speaking to previous landlords or property management companies is essential. We suggest the following questions about an individual’s past rental history.
- What dates did the tenant reside at their property?
- Was a lease renewal offered to the tenant?
- What did they pay for rent?
- Did the tenant pay all the rental payments?
- Were there any late payments? If so, how many times and how late were they?
- Did you ever serve the individual notice?
- Was the tenant evicted?
- Did the tenant provide proper notice about their move? Or did they break their lease?
- Did the individual meet all lease responsibilities and follow all property rules?
Background and Credit Checks
These checks allow property managers to learn more about potential tenants. Background checks help property managers determine if a person has previous arrests or does property damage. Credit checks show past late payments and credit history. Poor credit and a problematic past are red flags that need to be considered in any renting decision.
Pet Screening
There are many benefits of allowing tenants with pets. We discuss allowing pets in our blog titled “The Pros and Cons of a Pet-Friendly Property.” Pet questions should be part of the rental screening process to avoid having a tenant move in with an animal that may cause significant damage to the property or cause complaints by neighbors. Property management companies should set pet species, behavioral and size guidelines. The property manager should be upfront with prospective tenants about their responsibilities regarding their pets and any additional fees for allowing pets on the property. Setting expectations avoids wasting the renter’s time submitting an application when the pet is outside of what is allowed or if they are unwilling to pay the additional fees.
Pet screening helps property managers determine if a tenant’s pet will be a good match for the rental. We recommend asking similar questions to their previous landlords. Below are questions to ask:
- How many pets do you have?
- What type of pet do you have?
- How long have you had this pet?
- How much does the pet weigh?
- What is the pet’s name?
- Does your pet have behavioral problems like aggression or excessive barking?
- Is your pet housebroken?
- Are you willing to pay a pet security deposit?
Owners who want to off-load the tenant vetting process should consider hiring DenCO to rent their properties to responsible tenants. Please call 303-722-9688 or fill out this form on the contact page.
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