Can you afford not to screen your tenants? The answer is no! A bad tenant can cost you thousands of dollars in damages, lost rent, and headaches.
But tenant screening isn't just about ensuring you're not renting to criminals. It's also about protecting yourself and your investment.
And that means knowing what questions to ask, what documents to request, and what criteria to use when deciding. If you are wondering about the benefits of screening tenants in Prescott, Arizona, read on for a guide.
1. Safeguards the Neighborhood
Tenant screening is one of the most basic tenant safeguards. It helps you protect your property, and your neighborhood's safety and security.
Screening tenants keeps dangerous people out of your properties, which can help prevent crime. As a bonus, you can charge higher rents for your properties if they are in desirable areas.
2. Prevents Lawsuits
Many landlords think that if they screen their tenants, the only benefit is to ensure they're not renting to criminals. But that isn't true. By screening your tenants, you can also protect yourself from lawsuits.
Tenants can sue landlords, or rental property management companies, for a variety of reasons.
By hiring good tenant screening services, you'll be able to weed out people who are likely to cause problems. You can also avoid the lawsuits that come with them.
3. Prevents Fraud
A tenant screening service will help you identify fraud before it happens. They will check your tenant's financial information and credit history to make sure they are who they say they are.
They will also make sure that your tenant has a stable income and can meet all their financial obligations. If you don't do this, you risk getting scammed and losing money on a terrible tenant.
4. Minimizes Tenant Turnover
It's very expensive to find new tenants. The longer you can keep a tenant, the better it is for your bottom line.
When you hire a screening service in the Prescott area, they will help you identify people who are reliable tenants. They will also find tenants who will stay a long time and won't cause you any problems. This can lower your turnover rate and save you money on the cost of finding new tenants.
5. Overall Renting Experience
When you use a tenant screening service, you'll have peace of mind you rented to quality tenants. You won't have to worry about them not being able to afford their rent or them damaging your home while living there.
You'll also have peace of mind that you are providing a safe, comfortable environment for your tenants. This will make the overall renting experience better for both you and your tenants.
Tenant Screening: Have an Easier Experience Renting Out Your Property
Tenant screening is an important part of the renting experience. It helps you avoid bad tenants and keeps your property occupied. Overall, when you use a tenant screening service, it makes renting out your property much easier.
PMI Northern Arizona is part of a larger franchise that's been helping property owners like you for over 20 years. If you're looking for a tenant screening service that has a quick turnaround time, contact us today!
