3 Tips for How to Conduct Tenant Screening in Ewing, NJ
New Jersey ranks in the top three in the nation for the most renters behind on their rent. As a landlord, this is not the type of statistic you want to see. However, this statistic also highlights the importance of tenant screening.
As a landlord, your real estate investment should generate monthly income. To do this, you need a high-quality tenant who will pay their rent in full and on time each month.
These three tips will help you improve your tenant screening process to find a tenant that can and will pay their rent on time.
What Is Tenant Screening?
If you own Ewing, NJ, rental properties, you need to screen applicants to find a qualified tenant. The screening process looks at various factors to determine the ability and likelihood that an individual will pay their rent.
The better your tenant screening process, the more you reduce the risk of dealing with a tenant eviction.
1. Pre-screen Applicants
Pre-screening your applicants saves time and effort. Create a simple questionnaire that includes the most important questions. That way, you can immediately screen out tenants who are obviously not a good fit.
It could include questions about pet ownership, smoking, or income level. Anyone who says yes is immediately disqualified if you don't allow pets or smoking. Anyone who does not make enough monthly income is also disqualified.
However, be careful with your questions. You cannot discriminate against service dogs. You cannot reject applicants because of a criminal history except in limited circumstances.
2. Embrace Technology and Automation
Streamline your tenant screening process by embracing technology and automation. Use a software platform that allows people to fill out applications online. This saves you time entering the information into the system.
Look for a system that sends automated emails. This will eliminate the need to track and send emails or update applicants on their screening process.
3. Outsource Tenant Screening in Ewing, NJ
Consider outsourcing your tenant screening to a professional service. This removes you from the process entirely, saving you time, effort, and money. Hire local Ewing tenant screening services to work with the experts.
A local property manager will be knowledgeable of the current rental market. They can provide guidance on applicable New Jersey laws and have access to professional-level services, software, and applicants.
This improves your tenant screening by optimizing the process. It also projects a more professional image to applicants. That way, you set the stage for a professional relationship moving forward if approved.
Outsourcing also removes you from the decision process. That way, you don't risk personal biases, opinions, or feelings from influencing the approval decision.
Conduct More Effective Tenant Screening
Improved tenant screening allows for better selection choices, leading to the placement of higher-quality tenants in rental properties. This results in a better and more profitable landlord experience.
The team at PMI Essential are property managers in Ewing. We work with property owners to improve their landlord operations, from tenant screening to property maintenance.
Place better quality tenants in your rental property with an improved screening process from PMI Essential.
