If you want to know if you should outsource your tenant screening, the answer is yes! Outsourcing tenant screenings offers so many benefits.
When you outsource, you hire a company to do the work for you. It's simple, effective, and smart. The only work you have to do is to choose a company to hire for the work. Keep reading to learn why this is a fantastic idea.
Primary Purpose of a Tenant Background Check
Outsourcing the tenant screening process serves one primary goal: to find excellent tenants. A tenant background check reveals vital details about a person, including:
- Credit score
- Criminal record
- Evictions
- Lawsuits
- Income
- Previous rental history
- Tenant references check
A tenant credit check helps you determine if the person is creditworthy. You own the properties you rent. Therefore, you want to select the best candidates for each property.
Benefits of Outsourcing Tenant Screening Services
Of course, you could handle tenant selection yourself, but hiring it out is beneficial. Here are some of the benefits:
Better Tenants
The purpose of outsourcing is to find better tenants. Companies that provide outsourcing services know the qualities of great tenants. They also know how to find these tenants.
You'll end up with more reliable tenants you can trust. These will likely be tenants who pay their rent every month.
Save Time
One huge benefit is the time you'll save. Evaluating a tenant's background takes time. If you hire it out, you'll have extra time to place on other matters.
Company Handles Other Duties
In addition, you can hire a company to handle lease renewals. They'll also handle rent collection, evictions, and other tenant services.
These companies also handle rental property repairs, maintenance, and many other duties.
Things to Consider Before Hiring a Company
Before you hire a property management company for this service, consider two things.
First, what are the tenant screening costs? You can request a quote from a company to find out the costs. Property management companies might charge a flat fee per background check.
Secondly, what other services do you want? You might need a property manager to only handle tenant screening, but you can also hire them for other services.
For example, consider hiring them to handle your bookkeeping. You might also want them to handle other tenant services, such as rent collection.
Finally, how do you choose a reputable company? Choosing a reputable company is always vital. Research the company and read reviews to determine what others think.
You might also check out the company's website to learn more about their services, such as property maintenance services.
Reach Out to Learn About Our Services
The tenant screening is absolutely crucial for your company's success. After all, it's the process that helps you find the highest-quality tenants.
Are you ready to outsource? Laureate LTD is a full-service property management firm. We operate out of Denver and have served this community since 1982. We manage more than 1,000 properties and can help you with yours.
Reach out today to learn more!
