What is the Purpose of Tenant Screening?
It’s actually pretty straightforward – as a landlord, you should screen your residents for the following reasons:
- Protect Your Profitability – You want to rent your apartments to renters who will pay the rent on time and for the full lease term.
- Protect Your Property – You want to rent to responsible individuals that will take care of their apartment and respect the property you own.
- Protect Your Residents – You don’t want to put other residents and neighbors in harms way
Tenant screening helps you assess your perspective renters ability and willingness to pay the rent, do they have the income and employment to afford rent, do they have a track record of paying rent and do they have a track record of paying other bills.
It’s also an opportunity to assess the renters’ criminal background. One note about criminal background checks, there are restrictions and requirements for accessing and using criminal record data and they can change from state to state. You must check your best practices on accessing and using criminal data in rental decisions depending on the state your living in.