So, this is the one thing that I see most rookie landlords doing improperly, because they really don’t know how to do it, but I’m just going to tell you the way to do it.
We can talk in another video about how to do it. But I want to emphasize the importance of it.
One of the things, when I first got into this business, my mom actually had a rental home and she would screen the residents herself, and she figured out that she was actually pretty good at it.
She Got Completely Fooled!
But one day she got completely fooled by a professional renter and, I call them a professional renter because they knew exactly how to game the system.
They knew that my mom wasn’t screening tenants and the guy was an attorney.
His wife was a stewardess on airlines.
And it took us forever to get them out because not only do professional renters know how to game the system to get into your home, they also know how to game the system to stay in your home.
So let’s talk about four reasons you wanna make sure that you screen your tenant.
I think, as a landlord we have a responsibility to the neighbors around the homes that we manage or the homes that we own, to keep them safe.
The last thing you want to do is put someone in there with a recent horrible felony.
Some sort of a bad criminal record, or someone that’s going to be a bad neighbor to them.
And you want to make sure that you would be okay living next to this person.
So, super important.
Let’s make sure that you’re going to be a good neighbor to your neighbors of the homes you own or the homes that you manage.
It is super expensive if they’re having crazy parties there, doing drugs, cooking meth.
I mean, all of these things will completely, absolutely destroy a house.
So you want to make sure that you’re screening tenants just to keep your house safe.
The last thing you want to do is show up and just have a completely destroyed home, and that’s just no good
It’s no fun to walk in and see a home that you’ve worked on, a lot of times personally, to renovate the house and then someone’s completely destroyed it.
Let me tell you something, they’re time-consuming, they take a long time, they take a lot of money, they take a lot of brain damage, and by that I mean just stress and emotion.
And so the last thing you want is an eviction on your hands. You gotta hire an attorney,
You got to hire somebody that can help you through this process.
Because the eviction process is not always easy in the cities, and you know, you want to make sure that you don’t have to evict this person.
Even Before I Started Making Points One Through Four Is, You Want To Screen Tenants To Deter Professional Renters From Applying.
Going back to my mom’s story, professional renters are looking for people that aren’t screening their residents.
So you want to make sure you deter them by making sure that you look for certain things, and you’re doing your underwriting, and you’re doing your due diligence.
And so, super important to deter them from even applying for your house.
So, I’m Matthew Whittaker, and I hope this was helpful.
This was four reasons to screen your residents. Thank you.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.