It's believed that landlords file nearly 3.6 million eviction cases each year. Evictions are miserable affairs for everyone involved. Tenants lose their homes and destroy their credit, while landlords lose income and get bogged down in lengthy procedures.
The key to avoiding them is to engage in a thorough tenant screening process. However, this can take a lot of time and effort to do right. That's why many owners turn toward outsourcing their screening process to professionals.
But is this type of outsourced screening a good idea? If you want to discover the answer to this question, you're in the right place. This guide will walk you through whether or not you should consider these services for your Charlotte property.
What Are the Pros of Outsourcing Tenant Screening?
Tenant screening is an intensive process. First, it requires you to be familiar with the tenant-landlord laws in your city. That way, you can avoid any discrimination charges.
It requires you to look through a tenant background check, criminal histories, and credit scores. Finding the resources to do this can get expensive. On top of that, it's also time-consuming.
Screening a tenant takes time away that you could spend investing in other rental properties. When you outsource tenant screening, you're working with an expert who has a wide knowledge of the screening laws in their state.
What's more, they have access to a wide array of tools to check every aspect of the tenants. For example, here at PMI Amazing Spaces our tenant screening services include all of the following:
- Identity checks
- Pre-income qualifications
- Verification of both income and employment
- Credit score
- Previous rental history
- Eviction searches
- Tenant criminal background check
- Sex offender search
- Public records search
- Terrorism search
Lastly, they save you time. By not only sourcing your tenants but also screening them they can save you hours of work.
What Are the Cons of Outsourcing Tenant Screening?
In many cases, outsourcing tenant screening can end up saving you money in the long run. However, it still represents an initial cost for many investors. When outsourcing you also lose some of the direct control you have over who rents from your property.
So if you prefer a hands-on approach where you're always behind the wheel, then it might not be for you.
How to Find the Best Tenant Screening Services Near You
When searching four outsourced screening services you want to find a provider that utilizes the latest tech in their screening process.
Ideally, they'll also offer a wide range of other property manager services. That way, they can be a one-stop shop instead of going through other providers.
Need Help With Property Management? Contact PMI Amazing Spaces
We hope this guide helped you learn more about outsourcing your tenant screening process. Here at PMI Amazing Spaces, we're devoted to finding the best possible tenants for your Charlotte rental properties.
In addition to finding tenants and screening, we can help with every other aspect of property management.
That way, the odds of you dealing with an eviction are as small as possible. So if you're ready to make your rental life easier get in touch with us today.
