Tenant screening in Charlotte, NC is one of the most important things that a property manager will do for a landlord. With the help of a professional screening company, prospective tenants are screened for six specific things.
To qualify for a rental property, tenants should have a minimum credit score that falls as low as 500 and as high as 680, depending on the property. Most tenants will have diverse incomes and financial backgrounds, so depending on the rent and the home, minimum credit standards will be variable.
A major part of the screening process is verifying past rental history. You need to talk to former landlords and the tenant’s current landlord so you know whether the applicant has been a good tenant. Ask if rent was paid on time, damage was done to the property, and the terms of the lease were followed.
A highly-qualified tenant will be with the same employer for at least two years, because that demonstrates stability. Always call to verify that tenants are employed where they say they are employed. If a tenant is relocating to the Charlotte area, you might ask for a letter from their employer verifying that an offer has been made.
An ideal tenant will have a clean criminal background. Property owners enjoy having the peace of mind that a criminal background check has been conducted. Anyone with pending charges or felonies within the last 10 years may not qualify for a property.
Always check for past evictions. If a tenant has a history of being evicted for nonpayment of rent, you can expect to find yourself in the same situation as their prior landlords.
Debt and Income
Always verify an applicant’s income. Consider a debt to income ratio of between 32 and 40 percent. That should include housing, and it’s the same standard used for people applying for a mortgage.
These are the six areas that should always be included in the tenant screening process. If you have any questions about finding a great tenant in Charlotte, contact Carod Properties.