Tenant screening according to Wikipedia is defined as a process used primarily by residential landlords and property managers to evaluate prospective tenants. The purpose is to assess the likelihood the tenant will fulfill the terms of the lease or rental agreement and will also take great care of the rental property in question. The process culminates in a decision as to whether to approve the applicant, approve the applicant conditionally or deny tenancy.
IMPORTANCE OF TENANT SCREENING.
PEACE OF MIND.
As a property owner you want a trustworthy tenant that pays their rent on time, is responsible and respectful of your property. By doing a thorough tenant screening, you are more likely to find a reliable tenant. Once you have a complete picture of their background, you’ll be able to make a better informed decision about the applicant’s reliability.
REDUCE TENANT TURNOVER.
By requiring a tenet to fill in the rental application form (used for screening purposes) which has their personal information, you are sending a message to prospective tenants that you have a rigorous tenant screening process. This helps attract tenants because they are assured of their safety and that of their property and are hopefully more likely to stay long term thus saving you time and money you would have used looking for new tenants every now and then.
When considering who to rent to, you should think of it as who you are allowing in your building and your community. It is your responsibility to your community and other tenants to choose tenants who won’t put anyone at risk.