Most of the time, the best protection an Orange County Property Manager or landlord can take to secure an extensive investment is having the opportunity to conduct exceptional tenant screening procedures.
Four Screening Procedures For Rental Applicants:
- Exceptional history of paying bills and rent in a timely manner.
- Good history of following rental rules and laws.
- Verifiable income that is about 3X the monthly rent.
- Any verifiable landlord references.
An Orange County Property Manager clearly understand that you can find the answer to these questions by reviewing an applicant’s credit report to make sure he/she has an acceptable financial history of paying bills on time. Most Orange County Property Management Companies say you can find out if an applicant follows the law by checking his/her criminal record to see if he/she even has a record of any kind.
Furthermore, a majority of Orange County Property Manager’s say that to verify income, you would have to ask for pay stubs, bank statements and even calling the applicant’s employer to verify a variety of things. Additionally, you could even check in with the applicant’s past landlords to see if they would rent to them again.
Orange County Property Management Companies say that when you are screening your tenants that their could be certain red flags that might pop up that could usually deny a rental application.
Orange County Property Management Tips With Major Red Flags
Orange County Property Management Companies say that bad credit, history of evictions and a negative criminal record are major red flags when trying to approve an applicant.
Orange County Property Management Companies also say that with bad credit, reviewing an applicant’s credit history and debt obligation can give you an idea of their ability to pay rent on time, every single time.
Now when it comes to Eviction History, if the applicants have a history of evictions, you probably shouldn’t approve their application, moreover if they have a few evictions on their eviction report. Evictions can be time consuming and put you at risk of losing rental income duration.
Orange County Property Management Companies say that with Criminal Records, landlords can legally deny an applicant based on their criminal record only if they demonstrated a lack of respect for property or threatens the safety of current residents.
Orange County Property Managers Keep An Open Mind When Screening
A handful of Orange County Property Management Companies often say that It’s essential to keep a screening process as objective as able to. If you were to violate The Federal Fair Housing laws, that can be considered a serious crime. You need to see and treat every applicant the same and never discriminate or profile based on a particular class.
Most Orange County Property Management Companies say that you cannot deny a rental applicant solely based on an arrest record. Make sure when screening the potential renter that you keep an open mind, but if the red flags are way too obvious, this will lead to an easy decision. Select wisely.
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