I really do believe that the vast majority of the population are nice people. However, nice is not a qualifier when reviewing an application for a mortgage loan or a rental home.
So often we meet people that we really want to help with regard to finding that new place that they would like to call home. We talk to them and find that they are really nice people, so far as we can tell, but really nice people is not a quantifier on any mortgage loan or rental application that I’ve ever seen.
For property owners in particular who are considering renting out their property, if you are not going to use a property manager, I urge you to do your due diligence and rely on the facts before making a decision to rent to anyone. This is even more important if you are going to make an attempt to manage your property from afar.
If you are an individual renting a home, I doubt that you will have a legitimate means to access credit information. When you verify employment information, the supervisor is not always the best person to get the info you need to verify employment so what are you going to do? What the next level? Trying to verify a rental history is tough enough when requesting from a property management company, but how can you be sure that you’ll get accurate information from an individual landlord? How would you verify if the landlord really is the owner of a home the applicants say that they live in? I know this is hard to believe but sometimes the information on an application just does not jibe.
When considering renting your property, save time, save money, reduce stress: Hire a property manager.
There are so many pieces to the property management puzzle, that to explain it all here would be too voluminous. But the quality of a good tenant begins with the rental application because the rental application tells a story.