The overall homeownership rate in Indianapolis fell to 54% from 2021 to 2022, causing more demand for rentals. Landlords in the area can take advantage of the demand to increase their rental property income.
Although more people are looking to rent, you shouldn't choose just anyone to live on your property. A tenant criminal background check and other tenant screening practices should be established.
This way, you can find the best tenants without sacrificing safety and rental income. A property management company can help. Keep reading to learn how we screen rental applicants.
Know the Laws
There are local, state, and federal laws that landlords must be aware of. Researching these laws should always be the first step of tenant screening.
A property management company will already know the laws and mitigate your landlord risks during the screening process. A full-service business will handle everything from screening to tenant relations.
Fair Housing Laws prevent landlords from discriminating against rental applicants based on sex, race, religion, etc.
Design Your Rental Application
Before you conduct a tenant criminal background check, a rental application is a great way to prescreen tenants. You can see if they meet your criteria before going through the complete screening process.
Design your rental application to gather the right information, such as:
- Personal details
- Income and employment history
- References
- Rental history
Most importantly, you need a section in your application that asks for consent to run a background check. Without consent, you cannot legally screen a tenant.
Run a Tenant Criminal Background Check
Finding tenants who consent to a criminal background check should be easy. It's a standard practice in the industry. Once you obtain consent and a rental application, screen renters to determine their reliability and responsibility.
A tenant criminal background check will tell you if a tenant has a criminal past. Determine in advance how you will treat applicants with criminal records or convictions. You have to do the same for all applicants.
Decide if minor offenses are reasonable and closely look at serious offenses. You can decide if you want to turn down an applicant based on a serious criminal offense.
A lease management company can help you navigate this process to ensure you stay compliant. You can also outsource tenant screening and leave this process in the capable hands of a property manager.
You can also run a credit check and employment check to determine if an applicant can meet the financial responsibilities of living at your property.
Screen Every Applicant With Our Help
Selecting tenants based on a tenant criminal background check and other screening practices is standard. Screening protects your rental income and ensures you find top tenants for your property.
With the help of our team at PMI Midwest, you stay compliant and benefit from quality tenants. We strive to find you the right tenant, not the fastest tenant.
Our screening process involves thorough background and credit checks. We find responsible tenants with a history of paying their bills on time.
Ready to fill your latest Indianapolis vacancy? Contact us today to get started.
