After years of torrid growth, the Austin rental market is finally starting to cool off. Rent prices in the city are down more than 14% over the past year.
At the same time, the vacancy rate is up in Austin. Roughly 8% of rental properties are vacant. Landlords lose out on revenue when they cannot fill their vacancies.
As these conditions set in, landlords and property managers must get back to the fundamentals. It is essential to find high-quality tenants who care for the property and make on-time payments.
Read on to learn about the tenant criminal background check and explore professional tips for tenant screening in Austin, TX.
Why Is a Tenant Criminal Background Check Necessary?
There are many reasons why criminal background checks are necessary. First and foremost, you need to protect your assets.
A person with a criminal past is more likely to steal and break the lease agreement rules. They may decide to intentionally not pay the rent.
Also, a tenant with a checkered past may steal appliances or damage the property. They may bring a pet into the property because they lack regard for rules.
Besides asset protection, landlords and property managers have an obligation to the community at large. This is especially true for apartment complexes or duplexes.
Local residents, especially those with children, do not want to live next door to a criminal. Adding a tenant with a criminal background may fill a vacancy but lose another reliable tenant in the process.
What Are Other Screening Types?
Property management services perform a wide range of screenings in addition to criminal background checks. For example, employment verification is important for landlords.
They prefer the types of applicants who are gainfully employed and have a steady stream of income. These tenants are more likely to pay their rent on time each month.
Along these same lines, rental applications typically see a credit check. The objective here is to assess the applicant's creditworthiness.
Do they pay back their auto loans or credit cards on time each month? Looking into how a tenant treats their other accounts gives insight into whether they will be reliable.
Property managers also like to reach out to an applicant's prior landlords. Here, they receive first-hand knowledge about the applicant. They can ask questions about how the applicant treats the property and whether they follow the rules.
A thorough property manager will also investigate public records. They will see if the applicant has gone through the eviction process or filed for bankruptcy. These steps all provide clues as to whether the applicant will provide a steady stream of rental revenue.
Your Guide to the Tenant Screening Process
You now understand the benefits of a robust and thorough tenant screening process. Your goal is to find high-quality tenants that integrate well into the community. They take care of your property like it is their own and pay the rent on time.
Austin Property Management has the experience and resources to properly screen your tenants. If you need to run a tenant criminal background check, contact us at Austin Property Management to get the process started.
