Stop trying to do everything yourself. You are fighting a losing battle.
Your time and energy are valuable assets that you shouldn't waste on the tenant screening process. Outsourcing your tenant screening gives you more free time and saves you money.
If this isn't enough, several other benefits will convince you that outsourcing your tenant screening in Orlando is a good idea.
Consistency
You need to have a set standard of criteria that you compare each applicant to when tenant screening. This can be challenging when Orlando has one of the most competitive rental markets in the country. You may be tempted to approve an applicant simply because you struggle to attract tenants.
However, a better strategy is considering tips to attract tenants in a tough market. Do not lower your standards to approve a less desirable tenant.
In addition, you do not want to accidentally discriminate, which would have you run afoul of the Fair Housing Act.
Finally, it ensures you do not allow your emotions or personal connections to influence your approval decision. You need to use the tenant background check, not the tenant's story or connection to you.
Time Saved
If you have a career and personal life, finding time to do tenant screening can get tricky. This could lead you to skip over some tasks, such as calling tenant references. This results in a less thorough tenant screening.
This is one of the signs it is time to hire a property management company. Outsourcing frees up your to-do list and gives you time to focus on your other responsibilities.
Money Saved
Doing everything yourself can result in expensive tenant screening costs. You would need to pay for every background, credit, and criminal report. If you screen multiple tenants, these costs can quickly multiply.
If you want to request a Florida criminal history record check, it starts at $24 for each search. There is also an additional $1 for credit card processing. So, screen four applicants, and you have spent $100 on criminal background checks.
Legal Compliance
You must follow Florida's landlord-tenant law and the Fair Housing Act. Otherwise, you risk facing expensive litigation. If found in violation, you could face civil penalties in the tens of thousands.
A professional property manager makes it their career to know the applicable laws. They also stay up to date on changes to ensure you stay compliant.
For example, you can't run a tenant credit check on anyone you want whenever you want. You need to notify the applicant, tell them the criteria, get their approval signature, and provide them a copy of the report if they request it.
Outsource Your Tenant Screening
In Orlando's competitive rental market, it is crucial to maintain consistency and uphold your tenant screening standards. Outsourcing tenant screening to a property management company not only saves you valuable time but also helps reduce screening costs, as doing it all by yourself can quickly add up. You can enjoy a smoother and more legally compliant process, ultimately benefiting your rental property management.
Outsource your tenant screening and save time, money, and legal headaches.
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