At Belmont Management Group, we believe the tenant screening process to be one of the most important rental management procedures we have available, and we are both thorough and vigilant prior placing tenants in our Central Florida homes.
Credit and Background Checks
Our first screening step involves running credit and background checks. These national checks serve to give us a better idea of a tenant’s experience and where he/she stands financially. Understanding the necessity for criminal background checks as well, we always include these within our screenings.
We analyze the rental history of all prospective tenants. Most often, interested renters have already lived in an apartment complex or have dealt with a rental community in the past. Seizing upon this opportunity, we’ve created a rental verification form inquiring about the prospective tenant’s prior length of tenancy, payment patters, rental costs, and other relevant information. We fax and/or email this form to the previous owner or Orlando property management company, which helps us to ensure that only the best tenants are being brought on board.
Income and Employment
In order to ensure that prospective tenants are able to make payments on time, we will check his/her income and inquire as to whether he/she is full-time employee or part-time worker. We ask all of our applicants to provide recent pay stubs, and we’ll contact their HR department to verify the information provided on the application.
National Eviction Check
Following the completion of these three steps, we perform a national eviction check. Many assume that prior evictions will show up on routine credit reports, but this is far from the truth. Evictions are public records, and they will only appear on a credit report if the previous landlord took the necessary step to submit the information to the credit bureau. Most self-managing landlords will need to go through an alternative company to find this information.
Once we receive all relevant information, we’ll compile a background package and speak to the property owner about the tenant. We’ll keep the property owner engaged in the process and discuss the searches and findings so he /she fully understands what type of tenant we are considering.
Whether you already own a property or are considering an investment, we hope this was helpful. If you have any questions about screening or tenant placement, please contact us at Belmont Management Group in Winter Park, FL.