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Is Outsourcing Your Tenant Screening Process a Good Idea?

Is Outsourcing Your Tenant Screening Process a Good Idea?

Imagine polite tenants who always pay rent on time, respect the neighbors, and take care of your property. They're not a dream! With applicant screening services, you'll have no trouble choosing reliable renters.

About 90% of landlords complete some form of tenant screening. Do you? If not, you could end up finding tenants you don't want in your investment property.

Don't delay hiring a property management company. Read on to discover the benefits of outsourced tenant screening before making your choice.

Comprehensive Tenant Information

Many landlords rush through the process of screening tenants. Some only focus on an applicant's ability to pay rent. Unfortunately, rushing through the process could leave you with an unreliable renter.

These renters could pay late, damage property, and upset neighbors. They could cause you thousands in repairs and constant landlord stress. Outsourcing your tenant screening process will give you access to more thorough reports.

Your property manager won't leave a single stone unturned. They'll consider:

  • Eviction histories
  • Credit reports
  • Employment verification
  • Contact references
  • Criminal histories
  • Rental histories

This information can help you make a more informed choice when you select renters. You can feel confident knowing reliable individuals are staying on your property.

Save Time

If you choose the do-it-yourself route, you could spend days or even weeks trying to gather the above reports. That's time you could spend marketing and showing your vacant units. Hiring a property management company will save you time.

The best property managers already have efficient processes in place to streamline this task. They won't cut corners but will save you time.

If you have multiple properties or a full-time job, outsourcing will keep you from experiencing burnout. Instead, you'll have more time to focus on bigger tasks.

Legal Compliance

Don't rush to reject a rental application, especially if you meet the applicant in person. Any amount of bias could lead to legal issues. You need to comply with anti-discrimination and landlord-tenant laws.

Your property manager will ensure you remain compliant when screening applicants. You can reduce your exposure to lawsuits and protect your best interests by outsourcing.

The best property management company will help you comply with local, state, and federal laws. With their help, you can avoid legal issues and hefty fines.

Simplify Finding Tenants

Are your rental properties still vacant? The rental vacancy rate in the US has increased to over 6%. Hiring a property management company can help you avoid lasting vacancies.

Filling your investment properties with reliable renters can have long-term benefits. You can retain these renters for multiple leasing cycles. You won't have to worry about the cost of marketing or money lost due to vacancies.

Outsource Your Tenant Screening

You don't have to gather dozens of reports when reviewing rental applicants anymore. Instead, consider outsourcing your tenant screening process. A reliable property manager can handle this process on your behalf.

Look no further for help than Chicago Style Management. We're dedicated to increasing the profit of your investment while making the process passive and stress-free.

Let our experienced team of experts help you become a successful real estate investor. Contact us now to request our tenant screening services.