Without the right tenants in your Salt Lake County, UT rental properties, investors lose money. Your rental property business is too important to pick just “any” tenant to live in your properties and send in a rent check every month. 

Choosing a tenant requires patience and the right process. For a profitable property, you need to count on your tenant to pay the rent on time every month and not damage your rental. Without a screening process, you might be surprised at how easy it is to place a terrible “Professional Tenant” in your property!

However, without expert guidance from professional property management, even a tenant screening process has plenty of pitfalls. Property owners have to follow the law and know what to look for when choosing a tenant. Reeder Asset Management has placed enough tenants to understand how to find the best tenants while avoiding the potentially problematic renters.

Here’s how we protect your investments with our expert tenant screening services!

Setting the Right Criteria Is Critical

Knowing what you want in an ideal tenant is the first step to choosing your next renter. However, if you don’t know the rules, you could find yourself dealing with an expensive lawsuit for discriminatory practices.

Not knowing the law isn’t a viable excuse when it comes to managing your properties! When you work with a property manager, we handle everything for you! We stay up to date on current fair housing regulations to keep you out of hot water. Plus, a thorough screening process ensures that we find and place the best quality tenants in your properties.

We Work With Property Owners to Set Criteria

Your investment properties are your assets. If you’re a new landlord, it can feel unusual to have strangers living in your property. That’s why we work with our property owners to develop legal criteria to start the screening process, including:

  • Requiring a legal photo ID
  • Minimum income requirements
  • No prior evictions
  • A minimum credit score
  • Acceptable credit history.

With even those basics, property management professionals like Reeder Asset Management can evaluate each potential tenant using the same fair criteria.

We Require Specific Documents 

Every tenant applicant must provide the same type of documentation to begin our screening process. We don’t proceed with the applicant’s screening until we have everything on this list, including:

  • Government-issued ID
  • One recent or current pay stub (or two years of tax returns if self-employed)
  • A current photo taken with their pet (for pet-friendly properties)
  • Prior landlord contact information for the last three years.

We go back several years when researching prior landlord history to pull together the most accurate picture of how a prospective tenant handles rental payments and follows the rules in a lease agreement.

Every adult age 18 or older that intends to live in the home must fill out an application, provide the required documentation, and pay the application fee. We also list every resident on the lease for a property.

Our Screening Process Is Thorough

If we’re not thorough, we risk placing a Professional Tenant in your property. That’s not a risk Reeder Asset Management is willing to take!

We’re property owners, too: we know the challenges that come when dealing with a problematic tenant situation. Nonpayment of rent, property damage, and legal battles can ruin investment property income—and make investors want to get out of the business for good.

Real estate investing in Salt Lake County, UT is worth it—and the right tenants make it profitable. We don’t skip any detail in our screening process, including:

  • Employment and income verification
  • Credit history
  • Rental history and confirmation
  • Criminal and sex offender background check
  • Pet screening (for pet-friendly properties).

These checks provide essential information to determine if an applicant is the right fit for your property!

These reports and reference checks help us understand who an applicant is beyond the information they put on the rental application. Without understanding more about the person we intend to place in your property, we can’t be sure we’re choosing a quality tenant.

Why We Screen

It’s not about playing favorites—and it can’t be about personal preference when screening tenants according to the law. Your property management partner has a responsibility to protect your investment with a tenant who will comply with the lease agreement and not subject your property to criminal activity. They also need to pay the rent!

  • We verify employment and income to confirm that a tenant can afford the monthly rent that’s already set for your property. They must also have the income to cover the security deposit and pet fees for pet-friendly properties.
  • We check credit history to learn if an applicant has a history of bankruptcy or significant debt. If they can’t manage their finances or owe creditors more than their monthly income, there’s a good chance a tenant will default on their monthly rent payment.
  • We confirm prior rental history to learn about an applicant’s past behavior with landlords and evictions. If an applicant has a history of eviction, late rental payments, or difficult behavior, they might continue those patterns as a tenant in your property.
  • We investigate criminal history to make sure we don’t endanger other tenants, neighbors, or our staff by choosing an unsafe tenant. While we can’t deny a potential tenant just for having a criminal record, it’s still important to check!
  • We screen pets to protect your property! Pets must meet your criteria for breeds, size, behavior, and good health.

Choosing the right tenant requires your property manager to weigh a variety of factors against your preset criteria. Background screening provides the insight we need to make the right choice!

It’s Okay to Deny a Tenant—and We Will

We’ll deny any applicant that doesn’t meet the criteria for your investment properties. In most cases, the right applicant rises to the top of the list after passing our screening process. However, we’ll consider denying an applicant for:

  • An incomplete application
  • Prior evictions or active collections previous landlords
  • A credit score below 550
  • Insufficient income
  • Unsatisfactory references
  • Non-discharged bankruptcies
  • Pets that don’t meet the criteria
  • Sexual-related criminal offenses.

Once we choose a new tenant for your rental property, we require an active renters insurance policy for all leases—including renewals. Excellent tenants understand the importance of renters insurance and usually have no issue following this requirement!

We Follow the Law

Working with professional property management helps protect property investors during the screening process. From fair housing regulations to privacy laws, we won’t risk your investment property business with the tenant screening process. If you’re unsure of these laws or how to comply, let us handle it for you!

Choosing Property Management for Better Tenants

Property investors have a lot to lose when it comes to the risks of who lives in your rental properties. One bad tenant can become an expensive nightmare before you know what happened! Property owners can reduce the risks of bad tenants when choosing Reeder Asset Management to handle your tenant screening process.

We’ve dealt with enough terrible tenants and difficult situations to know our property investors deserve the best screening services! Reeder Asset Management takes great care in who we select for the properties we own—and we handle your properties with the same screening process that we use to find tenants for our properties. Let’s get started with a free Property Management Analysis!