Is Outsourcing Your Tenant Screening Process in Richmond, VA a Good Idea?
If you choose the wrong applicant for your rental property, you could regret it later. The better your screening, the more likely you will see red flags that disqualify potentially bad tenants. However, a quality tenant screening takes time, effort, and money.
Outsourcing your tenant screening by working with a property manager can be the solution you need. Working with professionals provides you with several benefits to improve your landlord experience.
Consistent Standards
You must follow tenant screening laws. Landlords that do not put their rental investment at risk. Most importantly, the Fair Housing Act protects vulnerable individuals. Landlords cannot discriminate against applicants or tenants for their:
- Race
- Religion
- Sex
- National origin
- Familial status
- Disability
A set process helps you maintain a consistent standard, reducing the risk of an applicant claiming discrimination. Outsourcing can help you defend your process if an applicant makes a claim.
Your professional property manager will have the process and standard documentation to show consistency.
Save You Time
Using property management software will streamline your tenant screening efforts. However, paying for a complete software system may be outside of your budget if you own only one or two properties. Working with a property management company can be the solution you need.
When you work with a property manager, they save you time by giving you access to their software and systems.
Reduce Tenant Screening Costs
You need to pay for each tenant's background check and the credit report you pull. If you screen many applicants, this can quickly become expensive. It can also be time-consuming to run each tenant's credit check individually.
Let a property manager reduce your screening costs by doing the screening for you. This could include using a more affordable service or getting a bulk discount.
Attract High-Quality Tenants
If you want to attract high-quality tenants, then you need to be a high-quality landlord. To do this, you need to have a clear and concise application process for your rental property. Outsourcing your tenant screening can do this for you.
A part of being a property manager is screening tenants. They know how to create a process that is both streamlined and effective. They also use modern technology to reduce redundancy.
The result is a professional process that high-quality tenants will appreciate.
Legal Compliance
Virginia tenant/landlord law limits the application fee landlords can charge to $50, excluding out-of-pocket expenses. Outsourcing your tenant screening process to a property manager ensures you follow all Virginia laws.
Outsource Your Tenant Screening
When you outsource your tenant screening, you can have peace of mind that the professionals are handling the most important part of being a landlord. This includes ensuring legal compliance, having a set system, and thoroughly screening each applicant.
At PMI Richmond, we pride ourselves on supporting our landlord clients. We use a thorough screening process to ensure that each tenant placed is high quality. That way, our clients can set themselves and their tenants up for success.
Feel more confident about your tenant placements by outsourcing your tenant screening to PMI Richmond.
