Lately, Borelli Investment Company has begun property management for a couple of customers in the San Jose area that the property owner supervised. We noticed that the properties were not performing to our standards, which prompted us to review and diagnose the issue. It became apparent that the candidate screening process was not producing he results we had envisioned. We asked the property owner how the candidates were screened and received the reply, “If they have the deposit and first months rent ready, we sign the lease.”
Tenant screening for a property owner is one of the most important aspects of their job and needs to be performed correctly. Poor tenant screening will lead to some disastrous results.
It can lead to:
-Increase in Crime Rate
-Losing Quality Tenants
-Higher Eviction Rates
-Lower Rental Income
-Property Damage/ Higher Maintenance Costs
-Higher Tenant Turnover Rate
Borelli Investment Company uses a proven screening process. We review our screening criteria and they compare it to the tenant’s information. This provides us with a complete evaluation of the tenant and informs us whether or not the tenant meets our standards. Also, as a landlord if you decline an applicant for credit reasons you must present them a letter informing them of their rights to investigate their credit issue with the contact information for the credit agency. We provide the form letter already addressed to the applicant.
If you are struggling to find quality tenant, let us help! We are experts in finding leasing these tenants into your available property.