The pre-rental screening to choose the right tenant
Tenant Screening: The Essential Step To Make The Best Rental Decision
Do you own one or more buildings intended for rental? Wondering how to choose your tenant well and how to be sure you are not mistaken? We will give you all the advice you need to successfully rent your real estate assets. Certain elements must absolutely be verified, and several methods exist to achieve this.
What Is A Pre-Rental Screening?
Pre-rental is all that precedes the rental itself. A pre-rental screening is a preventive survey aimed at ensuring the credit worthiness and seriousness of potential future tenants. It can be carried out directly by the owner or by an organization specializing in pre-rental screenings. During this procedure, the owner will be able to know if the candidate for the rental of his accommodation has already been the subject of an appeal to the Régie du logement du Québec by his former landlords. Several other elements will be studied: late payments, ability to pay, troubles with the justice system, breaches of co-ownership regulations, etc.
What Is A Good Tenant?
All owners dream of finding the ideal tenant, one who will stay for years, who will pay his rent every month and who will not pose any problem at the property or in the neighbourhood. It is important to understand the situation of your potential tenant, to assess his foreseeable duration of presence in your accommodation and to adapt your choice according to your rental objective. If you want to rent it for a short period, a student may be suitable. For a longer period, favour an employee with an employment contract. The ideal tenant does not exist, but you can find the rare gem by doing a good screening!
How To Ensure The Solvency Of A Tenant?
The biggest disappointment an owner can experience when renting their property is to come across bad payers. What could be worse than a tenant who is reluctant to pay his rent or who no longer pays? To avoid encountering this problem, some simple checks are necessary. Check the credit worthiness of those interested in your property by asking them to provide you with the essential information for an investigation: photo ID, name of the current employer, contact details of the former landlord. Do not hesitate to request all the documents you deem necessary to be sure of the credit worthiness of your potential future tenants.
Prepare Your Meeting With Your Tenant
Have you had someone on the phone and are you going to show them around your apartment or house? Prepare for this step as best as possible by anticipating all the questions you want to ask. Inform the candidate of your intention to conduct a serious pre-rental investigation. This will filter out those who already know their situations and save you a lot of time. Ask them to bring the required information with them for the pre-rental inquiry form. Use this time to assess your feelings towards this person who intends to occupy your accommodation. The feeling is a very important element to take into account as long as you do not discriminate to refuse to rent accommodation.
Screening Excellence inc. offers its services to prepare your rental project for your property in the best conditions.
Performing A Pre-Rental Screening: Advantages, Disadvantages And Advice
The pre-rental screening: the assurance of making the best possible choice.
Have you just bought a property and want to rent it? Renting accommodation is a very profitable investment over time. But for this investment to be successful, you absolutely must choose the right tenant (s). The pre-rental screening is the perfect tool to do this and to maximize your chances of finding the right people. Your future tenants may stay in your accommodation for a very long time. They are the ones who, in a way, will finance the expenses inherent to your investment. It is therefore very important to make the best possible choice.
Some Simple Tools To Check The Seriousness Of Your Future Tenants Yourself
Today it’s pretty easy to get information quickly from people. Before embarking on a large-scale investigation, you can gather information from the documents provided by candidates to rent your accommodation. You can learn more about their occupation, their financial situation, etc. With a simple name, you can search the internet. Some people are visible through their social networks and you can get a first idea of your potential future tenants. As long as you respect the charter of human rights and freedoms.
The Credit Survey: The Most Effective Tool For Ensuring The Tenancy Of Tenants
Although not mandatory in Quebec, the credit check is a very useful technique for finding out more about the financial behaviour of a potential future tenant. Its purpose is to find out the habits of the person targeted by the investigation. It allows you to know the rental history as well as the other debts contracted and to make sure that the repayments are well made on time. It must be carried out with respect to the persons concerned. To speed up this investigation, the signed approval of the future tenant is essential. If he refuses, beware: it may hide something and you can refuse to rent. Choose someone who will agree with this procedure and who will obviously have nothing to hide. Note that you can carry out this survey yourself or entrust it to a specialized organization as part of a pre-rental screening.
Take Your Time To Choose Your Tenants
Whatever your situation, remember this principle: take your time to choose your tenants. Do not rush by renting your property to the first comers. Sometimes the fear of not being able to rent your house or apartment can lead you to make a quick and ill-considered decision. Time is your best ally when looking for tenants. Do not hesitate to increase the number of visits and offer yourself a wide range of possibilities. You will only have to choose from a large number of files. The more people you have interested in your apartment, the more you will maximize your chances of finding the ideal tenant!
How To Choose A Company To Carry Out A Pre-Rental Screening?
Look for a company that offers you the best value for money in the pre-rental screening market. Prefer the formulas without membership fees for owners. In addition to checking the credit worthiness of the people involved in the pre-rental investigation, request a personalized suggestion to make your decision and to give you the best chance of succeeding in your project. Finally, entrust the pre-rental screening to a company that has several years of experience in this area.
How Does A Pre-Rental Inquiry Take Place?
A pre-rental investigation takes place in several easy steps:
complete the form and have the candidate sign it
receipt of your request for a pre-rental inquiry
the investigation begins immediately and is carried out by qualified analyst experts;
verification of credit files, criminal and civil history, files with the housing authority, employment and references of current and previous owners;
return of a detailed report including the conclusions of the investigation within an average of * 48 hours.
* So that you can make a decision as soon as possible and quickly deliver your verdict to tenants interested in your accommodation, Screening Excellence inc. guarantees you a response within 48 hours of your request. If all the elements necessary for the constitution of the report are available immediately, the detailed report will be sent to you on the day of your request.
Conclusion
You have all the elements in hand to successfully complete your pre-rental screening and therefore your rental. Do not neglect the most important points to check: seriousness, solvency and history of your potential future tenant. For more guarantees, call Screening Excellence inc. and entrust them with the pre-rental screening intended to find the ideal tenant! Take advantage of in-depth research and a detailed report with all the elements you need to make the best possible decision.
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