Rockville Real Estate: Is Outsourcing Your Tenant Screening Process a Good Idea?

Rockville Real Estate: Is Outsourcing Your Tenant Screening Process a Good Idea?

There are nearly 3.6 million evictions each year in the United States. If you own property in Rockville, Maryland, evictions can be worst-case scenarios that result in lost profits, expensive fees, and lengthy legal procedures.

That's why it's vital to engage in proper tenant screening services. However, there's no denying that handling the screening yourself, or putting the burden on your tenants, comes with a lot of drawbacks.

So is it a good idea to outsource your tenant screening process to a professional? And how do you find the best service? In this guide, we'll be answering these questions so you can get a better idea of whether you or a professional should be handling this important rental process.

What Is Tenant Screening?

Tenant screening is the process of looking at various aspects of a tenant's background to determine if they'd be a good fit for your property. At its core, tenant screening is a preventative measure against evictions.

By learning about applicants, it ensures that you don't accidentally get a tenant without the finances needed to pay rent. Different tenant screening services look at different areas for each tenant.

For example, here at PMI Potomac, we not only verify employment and income but also other important areas like:

  • Credit history
  • Potential past evictions
  • Previous landlords
  • Criminal history
  • Identities

Tenant screenings are vital because they can help you avoid problematic types of tenants. This can help ensure that you're getting regular payments for your property while avoiding the costly implications of an eviction.

What Are the Challenges of Tenant Screening?

There are certainly challenges in handling the tenant screening process yourself. First, if you're doing it yourself, it can be challenging to know what to look for. For example, if you ask a tenant for income and employment verification, both of these things can be falsified.

If you put the onus of tenant screening on the tenant in the property listing, you're likely to lose out on a lot of potential applicants. After all, screening services can be expensive.

Plus, in these situations, you'll need to decide whether or not you want to accept reusable screening reports. These challenges are part of the reason why many landlords turn to outsourcing the process to professionals

How Outsourcing Your Screening Process Can Help Your Rockville Property

Outsourcing your tenant screening process is a good idea because it turns the process of reviewing rental applications over to professionals. These individuals are skilled in the best practices when it comes to screenings.

That means you can sleep easy knowing you're getting the best tenants for your property. On top of that, a property management company can make the process both more affordable and quicker.

Ready for Tenant Screening? Contact PMI Potomac

We hope this guide helped you learn more about outsourcing your tenant screening process in Rockville. Here at PMI Potomac, we know that landlords often have a lot on their plate.

If you're dealing with multiple properties, screening tenants is likely the last thing on your mind. That's why we provide not only tenant screening but also a variety of other important admin services.

That way, you can focus on the big-picture stuff. So if you're ready to make your life as a landlord easier, get in touch with us today.