Did you know there are four offenses leading to possible adverse housing outcomes? Those offenses include property violations, assault, fraud, and serious drug crimes.
Have you received a tenant screening report? If so, you might be unsure what to do next.
Tenant screening reports have loads of information about a potential tenant. As a property owner or manager, you must interpret this information right. This information will help you decide whether to approve or deny the tenant.
Want to learn how to use a tenant screening report to your advantage? If so, then read on to find out!
What to Do With a Tenant Screening Report
A comprehensive tenant screening report is helpful for tenant approvals and rejections. Make sure to pay attention to the following sections:
- Criminal history
- Rental history
- Employment history
- Credit score
- Eviction history
You can make an informed decision about the tenant based on this information. If the tenant checks off all of the above, then they are likely to be a good tenant. That said, if the tenant has a poor credit score or eviction history, they might not be the best tenant.
Here are some tips for tenant screening.
Review the Entire Report
Don't focus on one piece of information. Review the whole report to get a complete picture of the tenant.
Factor in the Severity of the Offense
A minor offense is not always a deal-breaker. But, a serious crime might be a reason to deny the tenant.
Consider the Timing of the Offense
An offense that occurred a long time ago is not as severe as an offense that happened recently. Of course, use your best judgment after weighing all the factors.
Examine Rental History
A good rental history is a good sign that the tenant will be a good renter. That said, try to figure out the circumstances behind any adverse rental history.
Check Employment History
Stable employment history is a good sign that the tenant will be able to pay rent on time. Even if someone has a low credit score, they might be a good tenant if they have a good rental and employment history.
Tenant Screening Credit Report
A low credit score is not always a deal-breaker. But, a high credit score indicates that the tenant can pay rent on time.
Use Your Tenant Screening Report With Confidence
Now you know how to use a tenant screening report. Screening services offer landlords peace of mind.
They provide accessibility, speed, and convenience. This reliability is why more landlords are using screening services.
Another benefit is that most screenings don't show bias and remain neutral. Reports show facts rather than assumptions. This neutrality provides a stress-free way to find good tenants!
Use this information to make an informed decision about your tenant. Do you still have questions about tenant screening? If so, then contact us for more information!