Selecting the right renters fosters a respectful, cooperative community. The right renters make rent payments on time, maintain the condition of the rental, and adhere to lease terms, all saving time and money. A strong community attracts other great renters, creating a home where residents feel secure, valued, and want to stay a long time. Getting the right renters all starts with the screening process. Here are four pro tips to help you nail the screening process:

1. Build A Custom Scoring Model

Develop custom scoring models tailored to your rental’s specific needs and risk tolerance. Incorporate factors like credit score, income, rental history, and employment stability. From there, you can build a weighted scoring system to standardize decision-making for compliance, consistency, and the best candidates.

2. Automate With Rental Screening Software

Specialized tenant screening software like RentPrep or Snappt streamlines credit checks, background checks, and rental history verification on one platform. You can screen applications faster to focus only on the best applicants. Also, consider automated services like The Work Number or Plaid to verify an applicant’s income and employment status quickly and accurately. Finally, use services like Experian RentBureau or RentTrack to access an applicant’s rent payment history.

3. Social Media And Online Presence Check:

Conduct a quick review of the applicant’s social media profiles and online presence to gain additional insights into their behavior and lifestyle. Look for red flags such as evidence of destructive behavior. Also, look for green flags like consistencies with their application. You’ll be able to get a feel if they will be a good renter.

4. Create A System Of Conditional Approvals

Offer conditional approvals for borderline applicants. For example, require a co-signer, a larger security deposit, or upfront payment of the first and last month’s rent. You’ll reduce risk while giving a chance to potentially great renters with minor issues. Sometimes, people who are new to renting, like recent college graduates, can be your ideal occupant if you give them a chance.

As with any rental application process, always make sure to regularly consult with a local legal expert so your screening process complies with the latest Fair Housing laws and regulations. The renter screening process is regulated but you can customize it to the unique needs of your community. For more advice on the regulations, rental screening processes, and how to increase your occupancy rates, contact Occupancy Solutions. Since 1986, we’ve helped rental managers grow with innovative tips and advice.