Our proven four-step strategy ensures you find the right tenants for your property—from background checks to sophisticated tools.
Finding the right tenant is one of the most important aspects of property management. It requires thorough screening to minimize risks and ensure a smooth rental experience. The process involves checking financial stability, background history, and overall responsiveness. Today, I’ll go over four key steps for finding the right tenants and what factors to consider:
1. Use property management and skip tracing software. Screening tenants properly starts with using the right tools. Property management software can streamline the process by running credit checks, eviction history reports, and criminal background screenings. Additionally, skip tracing software can provide deeper insights by tracking previous addresses and vehicle ownership records. These tools help gather essential information to make informed decisions.
“Credit, income, and responsiveness all matter in tenant selection.”
2. Check credit and income requirements. Credit scores and income levels play a key role in determining tenant reliability. Ideally, tenants should have a minimum credit score of 600. Income requirements typically follow the three-times rule, meaning tenants should earn at least three times the monthly rent. For example, if rent is $2,000 per month, a tenant should have a monthly income of at least $6,000. The expectations may vary depending on the rental property’s price range and location.
3. Dig up eviction history and criminal records. Past evictions are a significant red flag. If a tenant has a history of evictions, it is usually a dealbreaker. Criminal records are also considered, but the approach depends on the severity and timing of offenses. Felonies within the past seven to ten years may be a concern, but older convictions might be acceptable based on the property owner’s preferences. Every situation requires careful evaluation to ensure a fair yet responsible decision.
4. Assess the tenant’s responsiveness. One of the best indicators of a reliable tenant is their level of responsiveness. How quickly they return calls, submit documents, and communicate can reflect their overall responsibility. A tenant who is organized and prompt is more likely to pay rent on time and maintain good communication throughout the lease. This is an important factor to consider beyond just financial and background checks.
Tenant screening is not always perfect, but doing thorough checks can help avoid problems. Using the right tools, checking income and credit, reviewing past evictions, and seeing how responsive a tenant is will give you a better idea of who to rent to. But working with a property manager can make things even easier. So, if you have questions or need guidance, don’t hesitate to reach out. You can call or text me at 904-650-3890 or send an email to Matty@PursuitRealEstate.com. I look forward to hearing from you.
