As a landlord in the Orlando market, you benefit from owning property in one of the most competitive rental markets in the country. With at least 12 people competing for each available rental, landlords can be selective. Tenant screening is necessary to help narrow your shortlist of applicants to the best fit for your rental.
Start your tenant screening by asking potential tenants these questions.
What's Your Current Income?
Asking about their current income level will tell you if the applicant can afford the monthly rent. Generally, the requirement is to have an income three times the monthly rent. However, this may not be realistic, with rental rates at an all-time high.
Working with a local Orlando property manager to assist with tenant placement can help you create an accurate income requirement for the market.
Can You Provide Details About Your Previous Rental Experiences?
This question tells you about their rental history and its stability or lack thereof. It also lets you ask for a landlord reference. You want to attract tenants, so talking to their previous landlords helps you determine how they are as tenants.
Look for signs that someone moves frequently, signaling they may not stay long-term in your rental. In addition, look for evictions from previous places.
How Long Have You Been With Your Current Employer?
Finding out about employment history tells you more about the applicant's stability. If they switch jobs often, they are at a higher risk of not affording the monthly rent. They may also be less likely to renew at the end of the lease term.
For example, if they switch jobs, they may want to move closer to their new employer.
Why Are You Moving?
The answer to this question will tell you a lot about how the applicant is as a tenant and their future plans. You can also use their answer to gauge their truthfulness by comparing it to what their previous landlord says.
Do You Have Pets?
If you do not allow pets in your rental, this question will automatically disqualify anyone with a pet. If you do allow pets, this question will start the conversation about them. You can then talk about the type and breed of pets.
You may choose to charge a pet security deposit or pet rent. Discussing this with a potential tenant will help them decide whether to proceed with their application.
Do You Smoke?
Asking about smoking habits will act as another screening question. Some landlords do not allow smoker tenants in their rentals. Other landlords require smoking to take place outside.
Ask Tenant Screening Questions
A thorough tenant screening will include these questions and more. Try to dive into the varied aspects of the potential tenant's life. This will give you a holistic understanding of their situation and plans.
At PMI Property Alliance, our team of experienced property managers digs deep by asking probing questions. We strive to uncover everything necessary to find high-quality tenants for our property owner clients.
Place high-quality tenants in your rental by letting PMI Property Alliance screen your applicants.