Effective Tenant Screening Policies
In today's rental market, a property management company must implement rigorous screening policies to ensure they select qualified and reliable tenants. A key component of this process is the credit score requirement; our company sets a minimum credit score of 620 to qualify. This threshold helps in assessing a prospective tenant's financial reliability and payment history, indicating a lower risk of late payments or defaults.
In addition to credit checks, our screening process includes thorough background checks that cover eviction histories and watchlist screenings. This is crucial for identifying any past behaviors that could pose a risk to property safety or community security. We also require landlord references which provide insight into the tenant's previous rental experiences—whether they maintained the property well, respected lease terms, and their overall reliability. Professional references are equally important as they can vouch for the character and responsibility of the applicant in a professional setting.
Lastly, to assess the character of an applicant it is important to meet them in person if possible to evaluate them to see if they are a good fit for the landlord.
Good luck sorting through those applicants!
Dustin Rinker - CEO Bigfoot Management Group - May 10th 2024
