As a landlord, there is nothing worse than finding out you have a bad tenant in your Charlotte rental property. That’s someone who will damage the property, violate the terms of the lease, or pay rent late or not at all. This can lead to costly repairs, evictions, and a loss of rental income. That’s a major hit to your wallet and it costs you time and peace of mind. The best thing you can do is to prequalify and screen all tenants thoroughly before approving them to live in your property. Today, we’re sharing some good practices that can help you screen a tenant.
A good tenant will follow your application process and procedures. They don’t have problems complying with and following the rules. This is something you’ll want to notice before they move into your rental property in Charlotte.
Run a background check. Past performance is a good indicator of future results. Conduct a criminal background check to make sure the tenants are not breaking the law or turn out to be repeat offenders. Do a credit check and look for late payments, lawsuits, and evictions. An employment verification can also help ensure the tenants have a good employment history and enough job security that they can afford to pay rent on time. Get a previous landlord reference make sure they have been responsible tenants in the past. Ask how much rent was paid, if it was ever late, and if extraordinary damage to the property required that the security deposit was withheld.
Make sure the tenants can afford rent; their income should be at least three to four times the cost of the rent. Ask the tenant if they plan on having pets, roommates, or visitors who plan to stay for extended periods of time. It’s also important to find out if the tenants are self-employed and if they will run a business from home. Get those details to ensure no rules or regulations are violated for the HOA or the city.
Fair Housing Laws
Before screening tenants, make sure you know about and follow fair housing laws. You are not allowed to discriminate against tenants based on color, race, sex, national origin, religion, disability, or family status.
If you have any questions at all regarding tenant screening to find a good tenant or other issues related to property management in Charlotte, please contact us at TouchPoint Property Management.