According to census data, almost 200,000 tenant evictions took place in 2009. This is an increase of 127 percent from the previous census survey. Meanwhile, the number of tenants paying more rent than they could afford (defined as 30 percent or more of their income) rose to a record 50 percent by 2010, according to a study from Harvard’s Joint Center for Housing Studies.
A recent New York Times post, Evictions Soar in Hot Market, indicates that in many parts of the country, this trend has continued in the years since. Between 2010 and 2013, tenant evictions increase by 21% in Maine, 11% in Massachusetts, 8% in Kentucky and 9% in Georgia, this at a time when foreclosures have decreased by some 50%.
If you invest in a rental property, you want a reasonable return on your investment, and that means keeping your rental units filled. However, you also want tenants who will be respectful of your property and your landlord rights. A comprehensive tenant screening process for your tenants helps you achieve both goals.
Fortunately, there are tools to facilitate effective tenant screening and property management, as well as best-practice strategies and protocols to ensure you collect rent on time and minimize evictions.
Here are five steps recommended by the Landlord Protection Agency to effectively approach tenant screening.
Finding responsible tenants is imperative to gaining a return on your rental property investment. Evictions are both time consuming and costly. You can avoid the issues that lead to evictions by thoroughly screening tenants. By employing a few best-practices when screening, you can fill your rental properties tenants who will pay rent on time, as well as respect your rights and your property.
Comprehensive credit & criminal screening.
Get access to bankruptcies, employment history, medical records, past addresses, evictions and more.
State-specific legal forms.
Lease agreements, rental applications, lease termination, eviction forms and much more.
Our paid membership plans now include free tenant screenings! Greater access to all of our features and the membership pays for itself!
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