5 Most Common Issues Landlords Run Into During Tenant Screenings
The tenant screening process is an essential component of turning a rental property into a cash-producing machine. A landlord's earning potential could very well rest on whether a thorough screening has been conducted. For this reason, it is important to avoid these five mistakes when screening a potential tenant.
One of the biggest mistakes landlords can make is to forgo screening potential tenants. Since every new lease agreement carries a certain level of risk, skipping out on this process could deal a major blow. Not screening applicants potentially exposes the landlord to certain risks such as decreased cash flow, a short-term vacancy period, reletting costs, and court costs -- not to mention some unnecessary emotional toll.
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