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Evictions are on the rise, making this a tough time for landlords. When you have to evict someone, it not only hurts your feelings but also your rental income. That's why finding the right tenant is more important than ever.
One way to protect your income is through thorough tenant screening. This process helps you pick good tenants who pay on time and take care of your property.
You may wonder whether to do your screening alone or get the experts to help. Keep reading to find out.
Pros of Outsourcing Tenant Screening
If you let a property management company help, they can do a better job checking on potential renters. They use special databases to look at credit scores, criminal history, and where the person lived before. This means they can see more and do a better check than most landlords can do by themselves.
Faster Results
These professional services work fast and can let you know sooner if someone checks out okay. This is great because it means you can fill your rental faster. Waiting too long could mean losing money, so speed is key.
If tenant red flags are discovered, you'll know immediately. That way, you don't have to waste time on negative renters.
More Time for You
Letting a company screen tenants means you have more time. You can use that time to improve your marketing strategies or get to know your current renters better. It feels nice not to be stuck doing all the background checks yourself.
Fair and Equal Screening
Having an outside company do the screening means every applicant is checked the same way. This is good because it protects you from any claims of unfairness. You'll have all the paperwork to show everything was fair.
Cons to Consider Before Outsourcing
Using a service means you have to pay them. Remember, though, paying for these services is often worth it because you're more likely to find good, long-term renters.
Less Personal Interaction
Some landlords like to meet and judge potential renters themselves. If you outsource, you might miss out on getting that personal feel for who they are.
Handling Sensitive Information
Choosing tenants involves looking at private information. It's crucial to use a reliable company that respects and protects this data. The company should only use the information to determine if someone is a good tenant and not misuse or share it with anyone else.
Making the Right Choice
Think about what your situation is. If you have a lot of rental properties, the time and effort you save could be worth the money you spend.
If you're unsure about the laws around renting and picking renters, having experts help could stop legal problems. Just make sure your chosen company is good at keeping private information safe.
In Kansas City, Kansas, PMI Destination Properties is ready to assist you. We've been finding awesome tenants for our clients for over 20 years. Reach out to us and we'll handle the tenant screening process for you.
