Tenant screening
is an important part of renting out your El Paso property. When you are eager to fill your vacancy quickly, it’s easy to make a mistake. However, mistakes are expensive when it comes to screening. If you violate a fair housing law, for example, you can face fines and penalties that are thousands of dollars. And, if you don’t screen properly, you may place a bad tenant, which will only cause you stress and cost you money.
We’re looking at the five most common mistakes that landlords make when they are screening tenants, and how to avoid them.
Not Establishing Rental CriteriaThe most important thing you can do before you begin screening tenants is to establish some rental criteria and be consistent about using that criteria. Everyone will have different standards for the tenants they approve. Maybe you want someone who has been employed at the same place for at least two years. Perhaps you’re looking for a credit score of at least 600.
Whatever your standards may be, put them in writing and provide them to potential applicants. This will save their time and yours because they’ll know if they have a good chance of being approved before they go through the application process. It also allows you to document your screening process and demonstrate that you’re fair and consistent.
Violating Fair Housing LawsA common mistake we see landlords make is violating fair housing laws. This can easily happen if you’re not aware of what the state, local, and
federal fair housing laws
are. If you’re not familiar with the requirements, make sure you contact an
El Paso property management company
for help placing and
screening tenants. You can be fined thousands of dollars for violating fair housing standards.
In El Paso, you may have multiple tenants applying for the same property. You need to be fair in the way you screen and select your tenants. It’s important that you screen the applications in the order that they were received. So, the applicant who turns everything in first needs a chance to be screened, get approved, and sign the lease. You need to provide 24 hours for your first approved tenant to take the home before you can move onto the next applicant on the list. You can’t pass over one approved applicant for another. That’s a fair housing violation.
Not Screening Fast EnoughYou have to move quickly when you’re screening tenants. Obviously, you want to be thorough. But, you cannot take weeks before you get back to an applicant about whether or not they’ve been approved. At
Century 21 Haggerty Property Management,
we have the technology and the tools to screen quickly. We get back to applicants within hours and we don’t leave them waiting for days and weeks. This is especially important for military families who want to avoid the additional costs of a hotel while they’re looking for a place to live.
Not Screening ThoroughlySpeed is important, but so is attention to detail. When you’re screening tenants, we recommend you look at the following things:
- Credit history
- Rental history
- Criminal history
- Eviction history
We also recommend that you verify employment and income. These are the basics, and you must make sure you’re looking at whether each applicant meets your standards. Don’t skip the process.
Not Collecting an Application Fee
