Eviction filings are currently over 50% above pre-pandemic levels in some parts of the US. While this is bad for tenants, it's also an issue for landlords that need tenants to turn a profit. Eviction is an arduous and expensive legal process that can drain you of a lot of your hard-earned cash.
Quality tenant screening can help you avoid these challenges. Read on to learn what the most important criteria are during the tenant screening process so that you can find the right Chevy Chase, Maryland renters.
Good Credit Scores
The first thing to look for during a tenant screening is whether the applicant has a good credit score. Higher scores show that the person has a history of paying back loans and respecting fees that they owe others. They're more likely to pay rent on time in full.
Scores between 580 and 669 are fair. It's usually safe to rent to these people assuming that they can prove their income and employment history. However, higher scores are better, and applicants with a score of 670 or above have proven themselves exceptional at paying back loans.
Employment History Records
You also should look into the employment history of your tenant. Make sure that they currently have a job and verify their income. You want to make sure that they have the funds necessary to pay rent reliably.
Those who can hold a job also tend to be more reputable and responsible. If someone has had a job for several years, they have proven themselves to be a steady and reliable worker and communicator.
No Eviction History
Protecting yourself against evictions should be a top priority since evictions are expensive. You don't just lose months of rent but also need to undergo a legal process to get rid of the bad tenant. It's stressful and costly.
Making sure that a prospective tenant has no eviction history can save you this hassle. If you see that someone has been evicted before, you may want to look elsewhere. However, if they seem otherwise reliable, talk with them about the eviction, hear all sides, and make your decision on a case-by-case basis.
Other past landlord references can help here, too, so contact some other landlords and see whether the tenant is otherwise reliable.
No Criminal Records
Those with an eviction history could be destructive and decrease your great property's value. However, those with criminal records could commit crimes on your property and land you in legal hot water.
Note, though, that there may be laws in place to protect tenants with certain kinds of criminal records. Do your research to make sure you don't get involved in a discrimination lawsuit.
Tenant Screening in Chevy Chase, Maryland
Now that you know the most important things to look for in a tenant screening, it's time to begin looking for quality tenants with professional help. We're committed to helping rental unit owners in Maryland find tenants who will take care of their units and remain for long leasing periods. Get a free rental analysis from PMI Chevy Chase to learn how much you can earn after finding good renters.