As a property manager, your job is to ensure that the people you bring in are able to meet their obligations and pay rent on a regular and consistent basis. Many property owners lack the skill sets necessary to properly manage their holdings, let alone deal the host of issues that are associated with screening new tenants, managing rents and meeting the myriad of problems that may arise through the course of their tenancy.
If you take on the role of a property manager, particularly that of a third-party unrelated to the owner of the property, it is your solemn role and duty to protect the interests of the property owner. This begins with taking seriously your role as the property manager and putting in place policies and procedures that ensure that the right tenants are given access to the property that you manage. Here are several tips that may help you in carrying out your duties to ensure that the right people are granted access to the property that you are managing.
Conduct a Thorough Background Check
One of the responsibilities that you have as a property manager is to properly select candidates for tenancy. This responsibility entails you performing some level of due diligence to ensure that the person(s) you select to live in the property you are managing meet, at a minimum. the qualifications to become a tenant. A background check involves looking at a person's criminal, financial, and civil history to determine if they possess the characteristics necessary to become a tenant.
A failure to conduct a proper background check could result in your accepting the application of a person who not only is a bad tenant but may also require additional time and cost invested to evict from the property.
A background check will provide you some much information; however, asking for verifiable references can help you learn more intimate details that can give you more insight about the potential tenant. Publicly information is important but not necessarily the final step in helping you with assessing the character of any person you may wish to extend lease terms to as a property manager. The extra effort you take to properly screen tenants in your role as property manager will only ensure better success to you in the future.