According to Real Property
Management West Valley Phoenix, tenant screening for Phoenix is about to take on
a whole new look. Whether you think of screening as a tool to protect yourself
and your investment or as a dreaded part of being a property manager, it is
absolutely critical for your success and safety.
Since background checks are performed
for protection, there are several key factors your screening should include:
●
Income (after taxes) is 3X the monthly rent
●
Credit is clear of collections and evictions
●
Positive references from past landlords
●
Verifiable employment history
●
Criminal history is checked
Even as a Do-it-yourself landlord, it is
important to establish clear rules for who you will and will not accept and
stick to them. Tenants with a rough past often avoid renting from property
management companies because of the stricter guidelines for qualification,
however, if you are going to be completely fair (and lawful) in your
requirements and avoid complaints, you must treat everyone equally by asking
the same questions and not bending the rules for one person and not others. Phoenix investment
property owners need to remember: it’s not personal, it’s business.
The next time you screen a tenant
and are wondering about the screening process, remember that you are allowed to
reject tenants with: bad credit history, insufficient income to meet the rent
demands, previous damage to other units, consistent late rent payments, poor job history. You cannot, however, reject
an application for discriminatory reasons including: race, religion,
nationality, gender, age, disability status, and/or familial status. Acting as
a businessman instead of an emotional one will leave you with a better
reputation as a Phoenix investment
property owner.
The key to successful property
management is consistency. Consistency in who you rent to, what questions you
ask, and the screening process you put each tenant through will allow you to
avoid possible lawsuits and Fair Housing Act laws.
RPMWV Phx offers full service Phoenix property management. For additional information please contact us at 602-218-2884 or visit rpmwvphx.com
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