Basics of Property Management: Screening Potential Tenants
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Buying New Rental Properties? 2 Ways A Property Management Service Can Ease Your Stress
If you are planning to buy new rental properties, there are many things you have to take care of. All of this can lead to a lot of stress on you. To help, a property management service company can ease a lot of your stress by offering many services to you. Below are two of these services so you can decide if you would like to hire this type of company.
For the last several years, I've used a property management firm to help with my rental properties. One of the tasks that they handle for me is screening applicants who would like to move into one of my vacant units. Their expertise has helped me lower my tenant turnover and find people who want to stay with me for years. Part of the process is a tenant screening credit check. Before any further contact takes place, my manager orders credit reports from at least two agencies. That is enough to tell us if an applicant is a good financial risk. Assuming the references work out, I meet the candidate and make the final decision. If you own rental properties, let me tell you more about the benefits of having a property manager. I'm betting you'll find this type of arrangement will work for you too.