Tenant Screening Procedure

[Iftikhar Khan]

Hello All,

I am planning to list my property in NC for rent.  I have screened tenants in the past, but it has been 8+ years ago.  Looking for recommendation for how to screen the tenants and what services I can use?  

Here are the things that comes to my mind that I think I need help with:

1) What background check service should I use?

2) How to verify documentation provided by the tenants?

3) What's the best place to find the lease contract?

4) any particular things that I should be careful in the lease contract that is not available in the standard contract?

5) Is one month rent security deposit enough nowadays?

6) What are the best places to advertise the property and where to stay away from?

I really appreciate it if people in the community can point me in the right direction.

Thanks!

[Nathan Gesner]

I recommend you include some of your key qualification criteria in the advertisement. For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets. Use the top three or four discriminators so applicants can screen themselves.

Then you need to have clear screening criteria yourself. What's the lowest credit score you will allow? Do you check Landlord references? Do you verify their income? Do you know how to read the credit/criminal background? What if they have collections or judgments?

Here's a detailed guide on how to screen applicants: https://www.biggerpockets.com/...