3 Reasons You Need To Screen Your Tenants

Hey everybody, Matthew Whitaker back with another video that helps owners and landlords. And the question today or the statement today is 3 reasons you need to screen your tenants.

So let me start with a story.

My mother was a landlord. She actually owned a rental property.

I grew up painting this place and dealing with all the turns.

And She Owned One. (3 Reasons You Need To Screen Your Tenants)

And one of the things she prided herself on was her gut feeling.

So people would come apply, she would have this amazing gut feeling.

And I’ll tell you, it was pretty good because, for a long time, she did a really good job at screening tenants.

But the last time that she rented it herself, she got tripped up because a guy and his wife.

Who was an attorney and she was a stewardess at an airline, completely tricked her.

Gave Her Some Money!

Some supposed checks when they moved in, and ultimately, these checks bounced, and they never paid her a dime.

And it required me, the landlord property manager’s son, to help her get those people out.

So, don’t let that happen to you.

Let’s talk about three reasons to make sure that they don’t.

First Thing Is, Really, It’s About Keeping Your House And The Neighborhood Safe. (3 Reasons You Need To Screen Your Tenants)

One of the things we found about bad tenants is the neighbors don’t want them around.

And so, to me, you really have a duty to the neighborhood to make sure that you’re putting good people in the home and then, also to protect the house.

A Dangerous Standpoint!

So think about, not only is it from a dangerous standpoint, dangerous to the neighbors, but bad tenants are just gonna tear up the house.

And it’s going to cost you a lot of money and the proverbial, horrible tenant, you walk in, and your house is destroyed.

So super important that you do a thorough job of screening them just to protect the people and the house around it, the neighborhood.

The Next Thing Is, Obviously, To Mitigate The Risk Of Eviction.

Evictions are long, and emotionally draining, and very expensive.

And you’ve got to do a good job of underwriting that application to make sure that this person hasn’t done this before.

There’s all sorts of ways you can find out if they’ve ever been evicted before.

And you absolutely want to do your job to make sure they aren’t evicted.

Because you don’t want to become the next victim of this person’s poor money habits, inability to pay the rent.

And then last thing is, there are professional residents out there or professional tenants, meaning they have no intention of paying the rent.

It’s like the people that rented my mother’s home.

They Had No Intention Of Paying The Rent. (3 Reasons You Need To Screen Your Tenants)

And they looked for people that own just one rental home because they know that more than likely, because it’s very onerous on you to screen your resident, it’s very onerous, and they know that more likely, you’re not going to do it.

So, I think it’s very important for you to know that and to screen the tenants, too, because they’re looking for you.

The Last Thing They’re Going To Do Is Go To A Professional Property Management Company.

Because they know we’re almost required to, we have to promise our clients that we’re going to screen these tenants so they’re not gonna go to us.

They’re going to go to people that own their home and are self-managing.

So those are the three reasons you would want screen your tenant.

I hope that’s helpful.

I’m Matthew Whitaker with gkhouses.