Landlords in the United States file an average of 3.6 million eviction cases yearly. The primary reason is non-payment of rent, but in other cases, it's because of problem tenants who break their lease agreement.
The good news is that comprehensive tenant screening can help lower your risks of having to evict renters for those reasons. One of your options for conducting such thorough assessments is to outsource them to experts.
Before you do, though, it pays to know the pros and cons of outsourcing tenant screening. We've discussed them in this guide, so read on.
Pro: Thorough Background Checks
Outsourcing tenant checks to professionals helps ensure each applicant undergoes comprehensive background assessments. Experts perform credit checks and verify each applicant's income and employment history. They also review rental and eviction histories and criminal backgrounds.
All those methods are crucial to finding highly qualified tenants you'd want to treasure and keep. For instance, credit and income checks can reassure you that the tenants you'll accept have the financial ability to pay rent. Criminal checks can help you discover some of the worst red flags in renters, such as committing severe crimes like assault.
Con: Less Control
Outsourcing tenant screening to a third party gives you less control over the process. Instead, you'll have to rely on them and trust their screening methods. You don't have to worry that much, though, provided you choose a company with years of experience in property management services.
Pro: Fair Tenant Screening Practices
Professional tenant screening services understand and comply with Florida's Fair Housing laws. They screen all prospective tenants without discriminating against the following:
- Color
- Disability
- Familial status
- National origin
- Race
- Sex
- Religion
It's against the law to do otherwise. Those who break the rules can face legal trouble.
If you're unfamiliar with Florida's housing laws, consider delegating the task of outsourcing tenant background checks to professionals. That way, you can find qualified renters without exposing yourself to legal risks.
Con: It Costs Money
Since you'll hire experts to screen tenants, you'll have to pay them for their labor and skills. The fees depend on how thoroughly they screen tenants and the number of applicants they must screen. Either way, these costs can add up.
Still, the benefits you can enjoy, such as finding qualified tenants and avoiding legal troubles, outweigh those costs. It's more cost-effective to have experts screen tenants for you than evicting and replacing problem renters. Likewise, you can worry less about the risk of discrimination claims.
Consider Outsourcing Tenant Screening
While DIY tenant screening may cost less upfront, it can also be risky. For example, you may overlook red flags or commit mistakes that can lead to you accepting unreliable renters.
To avoid those risks, outsource your tenant screening process to PMI Heartland Realty. Our property management specialist has been in the real estate and property management industry since 2001. With that extensive experience, you can rely on us to help you find the best tenants.
So, speak with us today! We'll happily discuss how we can help fill your properties in Punta Gorda, FL, with qualified tenants.
