The most important part of property management is selecting a reliable tenant who will pay the rent on time and take care of the property. It is much better to select a good, reliable tenant the first time than to accept a marginal one and have problems later.
Tenant selection actually starts with property condition. A property with worn out carpeting and needing paint will simply not attract a top-flight tenant. Our experienced managers can help you budget wisely so only cost wise improvements are made.
Once an application is tendered a complete background check is a must. While some management firms rely on just a simple credit check our property management professionals perform a much more in depth analysis. We of course run a credit check, but we also research courthouse eviction records, perform a wanted fugitive search with the police,(on demand) verify the issuance of their social security number, contact their present landlord, and verify their employment and income.
After the above research is completed it is reviewed by a senior property manager who will discuss the finding with you and make a recommendation about whether to accept or reject the applicant.
We secure the tenant’s agreement to pay rent and take care of the property with our detailed agreement clauses which has been specifically written to protect the owner’s interests. We strive to maintain cordial tenant relations although bearing in mind that our job is to represent the best interests of the property owner. Although rarely necessary due our rigorous screening procedures, we promptly file for eviction if the rent is not timely received. We track lease expirations and keep abreast of market conditions so that rent can be timely increased if prudent to do so.