Streamline Resident Screening

What is Resident Screening?

Resident screening means checking if someone who wants to rent a house or apartment is a good choice. Landlords do this by looking at their history and credit to see if they take care of the property, pay rent on time, and not cause trouble for others. This includes checking if they have a criminal history, if they make enough money, and where they work. You can streamline resident screening, making this process easier and faster.

Why You Need to Streamline Resident Screening as a Property Manager

Property managers must check if someone who wants to rent a house or apartment is a good choice. Here’s why:

Checking prospect’s history helps property managers avoid renting to people who might damage the property or cause trouble. This keeps the property safe and rented to responsible people.
Quick resident screening helps property managers find new tenants fast. They avoid losing money from empty houses or apartments.
By using the same rules for everyone who applies, property managers ensure they treat people unfairly. This is important to follow the law.

How to Streamline Resident Screening

Here are some tips for property managers on how to find good renters:

Don’t get too many applications. It’s better to have fewer applications from good renters than tons of applications from mostly bad renters. The rental ad should say what you want and don’t want.
Ask questions before you show the unit. Ask prospective renters when they want to move in, why they want to move, how much money they make, if they have pets, and if they have rented before. This will help you find good renters faster.
Check their ID before you show them the unit.
Talk about the rules and lease terms with serious renters. This will help you find out if they are good renters.
Serious renters need to fill out an application, sign it, and pay an application fee. Let them know they need to be honest on the application. You may use a service or software to review the application more efficiently. Most property management software provides this service. This includes running a background check and credit report.
If the renter isn’t qualified, return their application fee and move on.

Leverage Data to Improve Resident Screening

Most property management systems have an easy way to track resident screening. If you manage a lot of units with a large number of residents, this process can become difficult to manage.

Create easy-to-use reporting and alerts for stalled screening applications or delays. You can help get these applications back on track and through the process faster. You can also begin to identify trends in the types of applications that get stuck in the “Conditional” segment of screening. Then, you can target your marketing towards tenants that move quickly through the screening process. This will ensure a faster lease up.

Below is an example of one of our basic resident screening dashboards to help you get started. Imagine the enhancements you can add from “Application Details”!

Efficient resident screening is crucial for property managers to cut risk. Automated alerts and easy reporting can help manage the screening process efficiently.

Prioritizing efficient screening will lead to a smoother processes, improved tenant quality, and reduced risk.

For more tips, be sure to check out our other blog posts. We’re always happy to help!