Quote from @Palak Patel:
Hi everyone,
I am new to the rental business and just purchased my first rental property. I want to make sure I screen tenants properly, but I am not sure where to start.
-What steps should I take to screen tenant applications?
-How do you conduct background checks, and which services do you recommend?
-What key criteria should I use to evaluate tenants (e.g., credit score, income, rental history)?
-What are the best ways to attract more quality rental applications?
Any advice or resources would be greatly appreciated!
Thanks in advance!
I'm not sure where your home is located but many property management companies, like mine, offer tenant screening services so I suggest you utilize that if possible.
We pull credit (with score), criminal background, eviction etc. Also check and verify income (and proof of with paystubs and/or tax returns), verify rental references etc
You will want to have a minimum requirement for approval (such as credit score, income etc) and state that in your advertisements.
Good luck!