Tenant screening is the most important part of your relationship with your tenant. You’re looking for a highly-qualified renter who will pay on time every month, take good care of the home, and follow the terms of your lease agreement. Don’t select a tenant based on the clothes he’s wearing or the car she’s driving. You need a consistent, documented process when you want to find the best possible tenant for your Vancouver rental property.
The screening process starts with an application. Get a copy of your applicant’s driver’s license so you can verify that this person is the actual person who is applying to live in the property. You’ll need a complete application from every occupant who is 18 years of age or older. Take a full application on all prospects, and screen them exactly the same way.
Your screening process should include checking a number of things. Always look at the criminal background report to make sure you aren’t renting to anyone with violent tendencies. Verify the employment and income as well so you can be sure the tenants earn enough money to cover the cost of rent and other expenses. You also want to do a rental or a mortgage verification so you know how they have treated properties in the past, and whether they have paid their rent and mortgage on time in the past. A credit check is also extremely important. If you don’t do a credit check and you simply take the tenant’s word that everything on the application is correct and valid, you may run into problems. Then, when things go wrong, you’ll pull the application out and realize that there were some things on there that didn’t make sense. Check everything and do a full screening.
If you have any questions or need additional information about Vancouver property management or screening for your Vancouver investment property, please contact us at SunWorld Group Property Management.