Great rental property? Check. Competitive and affordable pricing? Check. Selected perfect tenants? Hmm. With over 30 years of experience, rental property management Chicago IL experts can help you find and screen prospective tenants. Otherwise, hasty decisions lead to headaches. A common rental mistake like poor tenant selection can lead to property damage, extended vacancies, legal liability, rent delays, and a higher likelihood of eviction.
Here are some tips from property management Chicago IL professionals to help you properly screen tenants and find the best qualified choice for your rental property:
1.Start with a thorough standard background check. By starting this process, you can easily shrink the risk of property damage and better determine tenants who might have trouble paying bills on time.
2.Understand the law. Throughout the entire screening process, remember to abide by the fair credit reporting act as well as complying with nondiscrimination laws and local code ordinances.
3.Require an application. Even when applicants give great first impressions, it’s a good idea to expect every tenant over 18 years old to fill out an application.
4.Verify income. A prospective tenant is a good match for your property if they make at least three times the rent rate.
5.Avoid hasty evictions and judgments. Poor credit is incredibly common in today’s economy, so it’s okay to request a written explanation for late payments.
6.Verify past rental history. Check in with previous landlords and ask if there was any major damage to the tenant’s last house or apartment.
7.Last but not least, do a criminal background check. Screen for renters who have a history of drugs, theft, violence, or sexual offenses.
With our thorough property management, Chicago IL investors trust our rigorous tenant screening processes. We help provide you with peace of mind. We check credit, employment, rental history, and criminal background, so you can get things done right from the start. Our rental property management Chicago IL experts are the most trustworthy guides to help fill vacancies with the most qualified tenant. To best protect you, your cash flow, and your property, choose Real Property Management Chicago IL Edge.
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