You've found who you think is the perfect tenant for your San Diego, California property. They make more than enough to cover their rent each month, and they seem responsible.
You realize your mistake later when you perform your first routine inspection. The tenant has totaled your beautiful property. There's garbage everywhere and rips in the carpets!
This situation could have been avoided with a more comprehensive tenant screening process. This is something that you can get by outsourcing screening services. Continue reading to learn more.
Comprehensive Tenant Screening
New landlords tend to rush through the background check process to fill their properties as fast as they can. They often make the mistake of only checking a potential tenant's finances.
Tenant screening services have a much more comprehensive process. They do perform credit checks on residents and check their finances, but they go a little beyond that.
They check their employment history, criminal background, eviction history, and rental history. If a potential resident has the habit of destroying rentals or has gone through their fair share of homes within the past few years, this information will show up.
Your property manager will also ask for references to learn more about a potential tenant's character before giving them a set of keys.
Lower Vacancy Rate
Just because property management companies in San Diego, California have a more thorough tenant screening process, that doesn't mean it takes a long time to complete.
In most instances, they will get the job done fast enough to keep your vacancy rates down. Property management companies don't only screen tenants.
They can also market your properties to attract ideal renters. This allows you to be picky about who you let in without hurting your cash flow.
Market Understanding
It's the job of the property management company to stay up to date with all the latest real estate market trends in San Diego, California.
They can use the information they gather to help you set your rental prices and attract the quality tenants you want. Of course, your property management team will still screen these applicants, but their chances are good.
Fewer Discrimination Lawsuits
Most states have anti-discrimination laws that prevent landlords from declining potential tenants based on a number of factors. However, it's still easy to find yourself in the middle of a discrimination lawsuit.
Something as simple as asking someone to provide their citizenship status could land you in a courtroom. Your property management company will screen tenants while keeping you compliant with all the local laws and regulations.
If an act of discrimination does occur, the blame will fall on the screening service instead of you since they're a third party.
Outsource to Find the Perfect Tenants
There's almost no bigger headache for a landlord in San Diego, California, than a bad tenant. You need quality residents who will take care of the property and pay their rent on time every month.
While you can take care of tenant screening on your own, property management companies are more efficient.
PMI San Diego has been helping landlords like you find quality tenants for over 20 years. Contact us to learn more about our services today!
