As a landlord, tenant screening can often fill you with the same doubts as someone about to leave on vacation who wonders if they left the iron on. Even when you feel you have done a thorough job, that nagging question remains: what if I missed something?
There is an alternative, and that's to outsource your tenant screening to a third party. Read on to help decide if outsourcing your tenant vetting in Hampton Roads is right for you.
You'll Get Expertise
Tenant screening is not always straightforward, so outsourcing can often be a good way of tapping into expertise you don't possess.
Vetting requires a diligent approach. You must know the best methods for researching a tenant's background and how to do a thorough job to ensure you get all the details.
You'll also need skills in spotting the red flags that the average person may overlook. It takes experience and knowledge to do that.
It can be challenging as a landlord because you have so many other demands.
In contrast, an outsourced company will already have that expertise in-house, plus the most advanced tenant screening software. They can hit the ground running, reassuring you that you have an essential part of your rental process in good hands.
It Saves You Time
As a landlord, you will find that property management can take up much of your time. If you have a day job, it means juggling between the two.
Screening potential tenants takes many hours, resources, and money if you do it yourself. You'll need to access databases for background checks, and you'll need to write emails or make calls to follow up on tenant references.
You'll also need to note what you've done and take the time to follow up on any outstanding information. If you have multiple properties, this job can become even more time-consuming.
Outsourcing is a good idea if you don't have time for these demands. Otherwise, you could become a bottleneck.
Outsourcing Can Help You Secure More Reliable Tenants
Since comprehensive screening services make you less likely to miss something important, outsourcing is a good option for getting a reliable tenant who won't cause trouble.
You improve your chances of finding someone to pay on time and look after your property.
Considering the financial investment of a rental property, paying for screening services is a small price to pay to secure tenants who won't damage your property or miss rent payments.
Plus, professional services will understand the legal complexities of vetting.
It can protect you against mistakes with your screening process that could leave you with legal problems, like discrimination claims from prospective tenants.
Plus, screening professionals will know the ins and outs of the latest privacy laws to ensure they are fully compliant during a background or tenant credit check.
Tenant Screening: Making It Work for You
Tenant screening is more than a tick in the box for finding a tenant. It's there to protect you and your investment. Outsourcing can be an excellent way to ensure you get the right tenant and reduce the risk of future problems.
Renters Warehouse uses the best experts and tools for our screening processes. To find out more about how we can help you in Hampton Roads, head here.