Hey everyone! Alex Smith here from Gkhouses, Chattanooga. I wanted to do another Questions Owners Ask. Today the question is, “How do you screen a potential tenant Chattanooga?”
I came up with a few topics that you should think about when screening a tenant.
The first step is to look at credit.
Credit is going to be your number one indicator for whether or not a tenant is going to pay rent on time. It will show if they have paid their previous bills on time.
You do not want to have a tenant who does not pay rent on time. Their credit will show payment history and whether or not they paid rent on time in the past.
The lower the credit score, the more likely you are to have a potentially bad tenant.
Now, there are some exceptions.
Sometimes people just have a low credit score because of something that happened in their life.
Obviously, you don’t want to accept something that is too low. We don’t either.
But generally speaking, lower credit score, higher risk; higher credit score, lower risk.
The second thing we do is check criminal history.
A prospect cannot have a violent felony under any timeline. This is important for many reasons.
You want to check and make sure the tenant is not going to be a threat to the home or to the community at large.
The last thing on How Does You Screen A Potential Tenant Chattanooga is we check to make sure that they are employed.
They have to make three times monthly rent in gross income.
Sometimes we have people ask if they can use their income from a former job since they are moving to the area. We do not allow this. They must have a job where they are moving.
So those are some of the things we look at when we screen a potential tenant in Chattanooga. I hope this helps.
If you have any questions, definitely feel free to reach out to us. We would love to help. Thanks.
Spencer is the VP of Marketing at Evernest. He wakes up with Google and Facebook on his mind. Having bought and sold over 150 homes in Birmingham, Spencer gets a kick out of helping new and seasoned investors navigate the mistakes he made as an investor. Spencer is also passionate about his love for Michael Jordan and does his best to explain to the Millennials (who never saw him play live) how much better he was than LeBron. He loves to hang out with his wife, kids, and the world’s best black lab, Jett.