Tenant Screening Services in South Bend, IN: Choosing Your Best Option
Being a landlord in South Bend, Indiana is risky for a lot of reasons. Investing your money in a property you don't know will provide consistent cash flow can be scary.
One of the biggest factors affecting regular cash flow is the tenant, but screening services can mitigate this risk.
Deciding on the best choice for tenant screening requires knowing about the different screening services. A great property management company will offer these tenant screening services:
When vetting a rental property applicant, credit checks can be helpful. The information you find in a credit report can give insight into the financial history of a prospective tenant.
Knowing how to read a credit report can help you decide whether a tenant will pay their rent on time. Hiring a property management company that spots applicant red flags is essential.
Credit reports show an applicant's payment history. This can help landlords predict if they can pay rent on time. Credit reports won't verify income.
Income verification determines if an applicant can afford the monthly rent. There are several ways to ask for proof of income. Property management companies will ask for pay stubs that display earned wages.
Generally, an applicant should earn at least three times the rental price, but this varies by location. Earning three times the rent ensures applicants can afford the rent and added living costs.
Tenant screening in South Bend is more helpful when services include eviction history. The tenant's history is a good indicator of how they will behave living on your property.
A tenant with a history of breaking leases or causing property damage might repeat the same behavior. Eviction-related reports may contain this information:
- Unlawful detainers
- Tenant judgment for possession and money
- Failure to pay rent
- Writs and warrants of evictions
These findings can help landlords make better tenant placement decisions.
Property management services in Indiana can check a tenant's criminal history during the screening process. No matter how trustworthy an applicant appears on paper, South Bend property managers will always do their due diligence.
Protect your real estate investments with a criminal background check. These checks will ensure a safer property for other tenants.
Some people with a criminal history might have committed minor crimes. Create clear criteria about who you will approve as a renter. Keep these criteria consistent to avoid discrimination lawsuits.
A South Bend property management company can help you set and support criteria. Professional property managers know the laws in the area and can keep you compliant.
Tenant Screening Services in South Bend
Property management companies benefit landlords with these services. Credit reports, income verification, eviction history, and criminal history give insights to help you make better decisions as a landlord.
PMI Michiana is a full-service residential property management company. We offer streamlined services and a long-term commitment to the real estate community.
We offer cost-effective services, such as tenant screening, for South Bend owners like you. Contact us today to learn why we have a valued reputation in real estate.