Selecting the Right Tenants through Employment Records

In selecting the right kind of tenants, there are several ways a landlord can identify who’s really qualified and has the capability to pay the exact rent consistently and who is not. This technique of tenant screening, given as a standard operating system by many management companies, is not only useful in ensuring financially responsible tenants but also persons who will help keep the peace and order of the area and also tenants who will not give you problems or worries, especially when it comes to the preservation of the property. Try these suggestions and grow from your mistakes and challenges. And if you need more than the words here, do not hesitate to contact us at any time.

If you hire us, how should we select the right tenant?

So to manage the tenants properly, we must first let them pass our screening system. In this way, we can watch out for the red flags during their application period. However, if we see these red flags, always remember that sometimes things are not as bad as you think it might be. An appropriate thing to do is know the reasons. Sometimes, people have already corrected their mistakes or, it could be that things are just mistaken or, there are valid reasons why the person has committed a mistake. It is important to talk to the person respectfully about the issues and listen to him/her explain his part. Though no matter how acceptable the answers are, it is still up to our highest discernment and judgment if we would allow him to stay or not. We have to carefully analyze and put the whole situation in balance.        

Why it is important to ask for the employment record

Property managers must look at the prospective tenant’s employment record. If the person is unemployed, of course, it’s a potential problem. Accepting unemployed persons, if, let’s say, you really want to help them, will potentially put you in trouble in the following months because there is no certainty on their financial capacity. So even though he or she has the money to pay the deposit and the first month’s advance rent, it is also possible that he cannot sustain his rent on a consistent basis. Unless you want to take the risk, you cannot gamble with other prospective renters. There are those who are really good payers and willing to stay longer. To assess the economic factor, make sure to ask for the applicant’s employment status first.

Another helpful way is to know if the person has unstable employment history. This can also help determine if the person is consistent toward himself/herself, with regard to his/her personal financial obligation. Though this is another tricky area to approach, it is definitely important if you want to protect your business from possible losses due to the renter’s irresponsibility. And worse, we end up in an expensive lawsuit. By looking at the bigger picture such as this one, late payment or other payment issues in the future will be prevented. However, as I’ve said, this is tricky. Be sure to have the right approach by using a strong tool possessed only by professional property managers.

So those are some of the strategies to get good tenants. In general, managing a rental business is a very challenging job. And though tenant screening is one of the smartest moves that will prevent more problematic factors in your property, it is also very tricky and requires careful and well-trained execution. However, hiring a property manager will help you make things easy. So if you want to learn more about how to start arming your business with these kinds of strategies, contact us at Jaxon Texas now to start asking our staffs questions. Good luck!