From its breathtaking views to mild year-round weather, these are just some of the top reasons San Francisco, CA, is a fantastic place to live. It also has a solid job market where workers earn more per hour and year than in other major metro areas.
So, even though the city has among the highest living costs in the U.S., it also has a high quality of living.
That means you, a new SF landlord, will likely have many prospective renters.
However, you must still conduct a thorough tenant background check on each applicant. We'll tell you just how crucial this screening process is, so please read on.
Key to Finding High-Quality Tenants
High-quality tenants pay rent on time as they're financially stable, responsible, and employed. Usually, these renters haven't gone through the eviction process. They also have good standing with previous landlords.
Another vital consideration is your prospective renters' criminal history. Many people in the U.S. have arrest or criminal records, of which eight million are Californians. Your ideal renters should be law-abiding and haven't committed violent crimes or felonies.
You can discover those details about prospective renters through comprehensive tenant background checks. They should include the following:
- Employment history check
- Credit history check
- Eviction history check
- Criminal background check
- Landlord referrals
As vital as those steps are, they can be complex and time-consuming, especially if you have many applicants. Fortunately, you can outsource all of them to a professional tenant screening service.
Maintain Property Values
You want tenants who'll care for your rental as if it were their own, especially if you're letting their pets in your property. If they don't, you'll likely face significant property damage. This can cause your property's value to dip and, at the very least, cost a hefty amount to repair.
For those reasons, always review an applicant's rental and eviction history. You should also speak with their previous landlords. Ask if the tenants kept the property in good condition and if they were respectful to landlords and neighbors alike.
Lower Likelihood of Having to Evict Tenants
Evictions are costly, time-consuming, and never a good thing for renters and landlords. Moreover, landlords don't always recoup all the money past renters owe them.
Some of the most common reasons for evictions are non-payment, breach of lease, and criminal activities. And often, a history of committing these can be a good predictor of one's likelihood of repeating them. That's why, as much as possible, you want your tenants to have a clean credit, rental, and criminal history.
Find Responsible Renters With a Tenant Background Check
A tenant background check can help you find renters you can trust not to break the bank, your property, and your heart. That makes them excellent tenants, so they're unlikely to do something that would force you to evict them.
If you're ready to find high-quality tenants, PMI San Francisco is here to assist. You can rely on us and our state-of-the-art technology for high-quality property management services.
So, reach out to us today! We're excited to discuss how our screening services can help you find the best tenants.
