Tenant screening is an important process to carry out when renting out your apartment. It involves a credit check, eviction check, and history check on your new tenants. This saves you from accommodating bad people in your building who may be dangerous to both you and other tenants.

So you need to ensure that you have all the important information about them before closing the deal. Following are the top benefits of tenant screening you need to know:

• Saves You from Low-Quality Tenants

When you screen your tenants, you get information about their financial stands like their jobs and salaries. This enables you to determine whether they will be able to manage the rent bills on time.

The tenant might have been able to raise the amount needed for the first months. But will he or she be able to pay more money after the first rent is done? 

Well, you can easily determine this according to their monthly earnings. If they are well employed and earn a decent salary, you can allow them into your building. But if the tenants are unemployed, then you will be risking renting them your place.

• Avoids Evictions

Evictions are a big hustle because they consume both your time and money. The good news is that tenant screening gives you the payment history of your new tenants in other places and can easily be done by one of the best property management companies chicago. You can know whether they were evicted from the other apartment or they left on their own without any issues.

You need to avoid tenants that have been forcefully evicted from other buildings. This is because they may be poor paying and you can face the same challenge with them. You can easily get this information by calling or inquiring from their former landlord. They must provide their contact during screening.

• Minimises Tenant Turnover

Tenant turnover can be quite disappointing and this normally happens when you have the wrong people in your buildings. It affects your income as there may be some months when some of the apartments are empty.

You have to embrace tenant screening and have high-quality tenants in your buildings. These pay on time, which keeps you both on good terms for a long period and you won’t have to leave. 

• Protects Your Other Tenants

Your existing tenants’ security needs to be your top priority. Well, you need to ensure they are safe in your apartments all the time. You can easily achieve this by screening new tenants and checking their criminal history.

If they have ever been convicted in various cases, like assault and theft among others. You don’t have to rent them from your building. You have to only accept people with a clear criminal record. This also saves you from problems with security agencies if you accept the wrong people, like terrorists to stay in your space.

Embrace Tenant Screening

Hire one of the best property management companies chicago to carry out tenant screening on your behalf.