How to Screen a Tenant for Your Investment Property

Once you receive a rental application from a potential tenant, the first thing you want to do is send a background search link. We normally use My Smart Move online. It costs about $45, and they check for credit score, evictions and any criminal history. Its quick, and the system will recommend whether to accept or decline the applicant.

You want to make sure that the tenant’s income is 3x the amount of the rental payment or that there are enough funds in their accounts to cover the rent for 3 months.

References are extremely important! If they are currently renting in another place, speak to the current landlord to make sure they have been good tenants, kept the property in good shape, paid rent on time and stayed out of trouble with the neighbors.

Once these items have been verified, you are ready to sign a lease. Our professional real estate agents know the best recommendations to include in your lease so that the tenancy is as favorable as possible.

If you have a property that you want to lease out, contact our team today! We know how to screen a good tenant.