How long does it take you to review rental applications? A few hours...weeks? The longer it takes, the longer your rental will remain vacant.
Skipping this process, however, can leave you with risky tenants. About 90% of landlords rely on tenant screening reports. Outsourcing will save you time and money.
Not sure if you want to hire a property management company? Read on to discover the benefits of screening services first!
Assess Rental Applications
When you're rushed to fill a vacant rental property, you may skip important steps when screening applicants. Unfortunately, you could select a problematic renter if you don't fully assess the rental application. These renters could annoy neighbors, cause legal trouble, or damage the property.
A property management company can gather comprehensive reports. These can include:
- Employment verification
- Criminal background checks
- Credit scores
- References
- Rental histories
- Eviction histories
A thorough report that includes this information will ensure you make an informed choice. Many self-service platforms only provide a "thumbs up/thumbs down" recommendation. You may not realize which types of tenants will cause trouble until it's too late.
Avoiding problematic renters can help reduce your landlord stress. Instead, you'll have peace of mind knowing a reliable individual is in the unit.
Save Time
Gathering the above reports could take hours or days for one applicant. That's time you could spend relaxing or managing your investment properties. Outsourcing will save you time.
The more time you save, the sooner you can onboard new tenants. You can start making money from your Austin real estate investments right away.
Choose a property management company that uses state-of-the-art technology. They'll ensure accuracy and efficiency.
They won't cut corners when screening rental applications. Instead, they'll get the job done right without wasting your time.
Legal Compliance
You may not realize you're neglecting landlord-tenant laws when screening applicants yourself. Allow a third party to step in before you encounter legal trouble.
Your property managers will ensure you remain compliant. Relying on their services can help you avoid a lawsuit or fine. Instead, you can comply with federal, state, and local laws without feeling lost or confused.
Cut Costs
Screening dozens of rental applicants can take time and money. Outsource to a full-service property management company instead.
You can gather comprehensive reports at a fraction of the cost. Their tools and resources will help you operate more efficiently. You can spend that money on new Austin real estate ventures.
Remember, the sooner you screen applicants, the sooner you can fill a vacant rental property. You can maximize your occupancy rate and earning potential. Relying on these services can boost your ROI.
Request Tenant Screening Services
You don't have to waste time or money screening rental applications alone. Instead, outsource tenant screening to a property management company. Their services can maximize your profitability as a landlord in Austin.
Our team at PMI Heart of Texas is happy to help! We have 20 years of industry experience helping landlords like you maximize their profitability.
Rely on our experience, expertise, and state-of-the-art technology. Contact us now to request our tenant screening services.
