The Importance of Tenant Verification Screening

The process of collecting, collating and evaluating information of the tenant applicants is a vital course in reaching conclusion of the client’s eligibility to dwell on your asset. A host of factors is considered by Fort Myers property management companies to find an occupant that is going to meet the rental standards. Factors such as background on tenant’s prior credit, criminal history, and prior rental history should be scrutinized closely.
There are a lot of drawbacks for the landlord who disregards the process of tenant verification and most of the consequences of granting a place to a dubious tenant can be devastating.

Initially, the SWFL rentals tenant verification begins with the tenant completely and accurately filling out all of the application forms. These forms should be backed up with confirming facts by supporting documents as evidences. Typically three personal references are required that are not related to the proposed tenant so that non-biased parties can be contacted and interviewed by the property management company. Tenants tend to choose a very good friend, coworker or company boss as these three different references.

Another aspect of the screening process for a Fort Myers property management team is the credit check. The credit report details acquired through credit analysis is then instantly compared to the information stated on the application forms. This step gives the property management firm and landlord a history of the potential tenant’s loan history which reflects their spending habits and their ability to pay debt obligations in a timely manner. The better the credit history information reflects, the better the chances to get accepted as a tenant. In times such as these, however, many prospective tenants have gone through recent foreclosures therefore damaging their credit scores and history. So, many times in the last few years the credit score and history itself has been given less weight on a final decision as opposed to a prospective tenant showing their income earnings and the ability to be able to afford the monthly rent. If there were two prospects looking to rent the same property, however, more than likely the candidate with the better credit history could potentially win out over the person with a less than adequate history.

In the real estate business, property damage often occurs because of tenant misuse, retaliation and/or neglect. The approach to minimize this type of tenant is to gain the proper verification of tenants by Fort Myers property management. The better the screening and verification process is the better chance the landlord has of obtaining a trustworthy tenant. The advantages of finding a good tenant that takes care of their rental are minimal repairs on the property need to be made by the landlord; the occupancy rate increases and forced evictions are kept to a minimum.
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