How We Screen Your Rental Applicants
Good tenant screening practices are critical in order to enjoy a profitable rental business. When you fail to properly screen your tenant applicants, your rental property's financial health can struggle. Our tenant screening process is aimed at ensuring the most qualified and suitable tenant gets to rent your home.
At Income Realty Corp, we have a comprehensive tenant screening process. Every tenant who applies undergoes our screening process to ascertain their suitability to rent your property. Furthermore, all tenant prospects are pre-qualified to make sure the tenant needs match your rental property before showing.
What Do We Check For When Screening Potential Tenants?
1. Capacity to Make Rental Payments
At Income Realty Corp, we take specific measures to ensure an applicant is capable of paying rent on time once they occupy your rental property. To get this information, we consider the following factors:
- Credit History: We do a comprehensive credit check to ensure the tenant is financially stable to remit their rent as the lease agreement stipulates.
- Employment History: We verify current and past employers to verify the applicants have sufficient income.
2. Tenant's Rental History
Our background checks are based on the following areas:
- Rental History: We examine a tenant's rental history by requesting the tenant provide details of their current and previous landlords. These checks allow us to determine whether a prospective tenant has any history of misconduct or have failed to honor their rent payments.
- Eviction History: In addition, we examine their eviction history to see if they've been ever evicted before and whether it's wise to enter into a lease agreement with them.
3. Criminal History
We do criminal background checks to determine if a prospective tenant has ever been convicted of a crime. Our background checks entail various crimes such as murder, theft or sexual offenses.
Once the above steps have been completed and we're satisfied, we move on to the next stage which involves the following activities:
- Signing of the lease agreement: This involves the tenant going through the terms and conditions of the lease agreement and signing if they are satisfied. At this point, a tenant can ask any questions and we gladly assist them.
- Paying the security deposit
- Paying administrative fees
- Payment of pet deposit: This is paid by tenants who own a pet. The pet policy is at your discretion. Our lease agreements detail the types of pets allowed in a property as well as the pet deposit amount. The agreement also includes the number and size of pets.
Our tenant screening process has proven to be quite effective in helping to select qualified tenants. Most importantly, it is done according to Florida law and abides by the Federal Fair Housing Rules.
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