Among states with the most renters behind on payments, Louisiana ranks ninth. About 20% of renters in the area are behind. What if you selected one of these renters?
Their failure to pay on time can affect your earning potential. Before that happens, invest in tenant screening services.
Not sure if you need help finding good tenants? Read on to discover the benefits of screening tenants today.
1. Comprehensive Reports
Some automated tenant screening reports display outdated information. This can include long-resolved eviction cases. These reports condense years of information into neat, easy-to-digest summaries.
Some portals only provide a thumbs-up or thumbs-down assessment. This won't give you thorough insight into an applicant.
Outsourcing will give you access to up-to-date, comprehensive reports. These reports can include the applicant's:
- Rental history
- References
- Criminal history
- Background check
- Credit score
- Employment verification
Thorough reports will help you make a more informed decision when selecting tenants. You can choose renters who won't cause property damage or pay rent late. Instead, you'll feel confident knowing you're choosing good tenants.
2. Save Time and Money
As a property owner, you have enough on your plate. You're likely juggling rent collection, maintenance requests, marketing, and other tasks. Outsourcing your screening process to a property manager will save you time.
Gathering comprehensive tenant screening reports can take days. If you receive multiple applications at once, it could take weeks.
To save time, some property managers cut corners. They only determine if an applicant can afford monthly rent payments.
Your property manager can work efficiently without cutting corners. They'll ensure applicants meet your standards.
The best property management companies use state-of-the-art technology. This can reduce human error and save time. You can receive reports without delay.
The sooner you gather these reports, the sooner you can select applicants. The sooner you select applicants, the sooner your occupancy rate will improve.
Outsourcing can save you money in the long term. Paying for individual reports can become costly. Your property manager can gather reports in bulk to help you cut costs.
Speeding through the process could cause you to neglect anti-discrimination laws. If you don't comply with landlord-tenant laws, you could face a lawsuit. You may receive a hefty fine.
Your property manager will understand these laws. They'll ensure your compliance, helping you save money.
3. Improved Occupancy Rates
The best property managers pair screening services with marketing services. They'll help you generate more applications. With their help, you can attract good tenants to your listings.
Your occupancy rate will increase. Improving your occupancy rate can help you avoid the expense of vacancies. Instead, you can improve your ROI and generate more money from your properties.
Invest in Tenant Screening Services Today
Don't waste time screening tenants alone. Instead, start outsourcing your tenant screening process. Trust an experienced property manager to handle this task for you.
Our team at PMI New Orleans has the services you need. We rely on state-of-the-art technology and proven strategies to boost efficiency.
We can maximize your profitability and lower your workload. Contact us today to request our services.
