Tenant screening is at the heart of risk management. Over one half of all rental applicants do not have low enough risk scores to meet our standards for tenancy.
All prospective tenants are thoroughly screened at no cost to the owner. We have online computer services to check credit history, bankruptcy likelihood, judgments, evictions and criminal record. Employment verification, income, savings and past tenancies are checked. Satisfactory ratios between earnings and expenses have to be met to be considered for tenancy.
The leasing agent that receives a commission for renting the home is not involved in the final decision of establishing the suitability for tenancy. Leasing agents are commissioned while property managers are salaried employees. The background check is reviewed with the owner of the property to allow their input and final decision. We will give you recommendations based on our experience and market conditions without the bias of an agent making a commission if you accept a tenant.
Rental rate and market demand analysis is constantly updated. With hundreds of homes under management, we know the market and its vicissitudes. Every time a lease comes up for renewal or goes vacant, we set the rent as high as we believe the market will support. This is done in consultation with the owner.
A full time in-house leasing staff is maintained. Our leasing department is open seven days a week. Most management companies and individual agents do not work on the weekends when nearly one third of our leases are written.
Thirty days prior to lease expiration, residents are contacted to explore renewal terms. If a lease is not renewed, then planning for re-rental begins. Our lease requires tenants to allow us to show the home during the last thirty days of tenancy. This way, many homes are re-rented before the owner incurs any vacancy.
Tenants must pay security deposits from one to one and half times the monthly rental amount before move-in. No exceptions. If tenants do not have adequate finances upon move-in, any little financial disruption in their lives could cause a payment problem.