How Bundled Management Screens Tenants For You
Updated: Apr 26, 2022
Finding reliable tenants here in Chicago, should be easy right? Place an ad, or ask around, have an interview, and voilà! Experienced Property Managers know that it not that easy. As a property owner, you may not have the time or tools to perform thorough tenant screenings, and failing to perform a proper tenant screening is one of the most common mistakes made by self-managed property owners. At Bundled Management, we do the hard work required to attract great tenants for your property.
Bundled Management uses strict screening methods.
Background Checks The last person you want to occupy your rental is someone with a criminal record. A reliable tenant should allow for background checks. Any history of criminal activity can affect the decision of the landlord.
Credit Checks It is also important that the applicant undergoes a credit check. A good credit history shows they are a reliable payer and have not declared bankruptcy. The landlord generally uses a credit reporting agency to verify the credit status of the potential tenant.
Proof of Income Potential applicants should have a stable source of income before renting your property. They must be willing to give their proof of income. It is imperative to verify their job from their employer. Generally, they should be making at least three times the amount of rent. They must also provide their previous rental history. If the applicant doesn’t give this information, their request for a lease may be dismissed. The details must be accurate.
Screening of potential tenants requires more than just intuition and your gut feeling. Even the nicest applicants can be very difficult occupants to deal with on a regular basis. Relaxed tenant qualification procedures can lead to higher turnover rates, difficulties collecting rent, and higher eviction rates, all of which can end up costing you a lot in the long run
If you have a new or existing rental property in the Chicagoland area, contact Bundled Management online or Call us at 312-275-5750 to see how we can help you find great tenants fast!