Are you a property owner in Baton Rouge, LA? Are you struggling to find reliable tenants? There is a rental vacancy rate of 8.7%, which means you have to work hard to increase occupancy in your property.
While filling your vacancy is crucial, you don't want just anyone living on your property. Having a tenant screening process in place will prove beneficial in numerous ways.
We know there are a lot of factors to consider when you're renting your property. That's why we've put this guide together.
Keep reading to learn everything you need to know about Baton Rouge tenant screening.
Decrease Risk
No matter what type of property you own or where it's located, there are risks. To reduce and mitigate some of these potential issues, you'll need to set up a screening process.
By researching your potential tenants, you'll know if they are reliable or not.
Running tenant background checks isn't enough. You'll need to get references, proof of employment and income, and evaluate their rental history. Have they been evicted before?
This information will help you decide if you want them to live on your property.
Financial Security
Another reason to spend time screening tenants is to protect yourself financially.
A tenant that doesn't pay rent on time can be difficult to handle. It can also put you in a compromised position if you're relying on that income to pay other bills.
A thorough screening process will help you identify any red flags. It will reduce the risk of late payments and evictions.
Property Protection
As a property owner in Baton Rouge, you want your property values to stay as high as possible. If your renters don't take care of the property or damage it, it could hurt your investment.
A reliable tenant will be more likely to care for your property, which will make your unit and the neighborhood look better.
If you don't run a thorough background check, you have some issues with decreased property values.
Efficient Baton Rouge Property Management
When you have vacancies, you want to get them filled as quickly as possible. If you're spending days or weeks screening tenants, you're losing money,
Having an efficient process will allow you to streamline your workflow as a manager.
Once you have a tenant screening process in place, you'll be able to identify good candidates quickly. You can then focus on other management tasks.
Beyond the Lease: Tenant Screening Importance
An effective tenant screening process is key if you want to be a successful property investor in Baton Rouge. The more information you gather, the better prepared you'll be to make a decision.
Setting up a Louisiana tenant screening process alone is time-consuming and difficult. Having an expert help you will make finding the right renters much easier.
PMI Integrity Properties is locally owned and has over two decades of experience combined. Our team is knowledgeable about tenant screening in Baton Rouge, Louisiana, and ready to help you.
Don't wait to fill your rental vacancies. Get in touch with us today!
