Placing High Quality Tenants

Placing High Quality Tenants | 4-Step Verification

The key to placing high quality tenants is simple and complex. The principles behind our approach is simple, but the process requires follow through and a detail-oriented mind set. At Snipes Properties, we use a 4-Step Verification Process.

1.) We run credit via Trans Union, one of the largest and most reliable credit reporting agencies in the country. This report not only gives us the prospective tenants credit score, but it also show us what bills they pay late, if any, in addition to bankrupcy and judgements.

2.) The second step, and one of the most important is to research the prospective tenants Landlord History. We check the court record in Virginia to see if any previous landlords have filed for a judgement, eviction or warrant in debt. We will also ask the most recent landlord for a reference.

3.) The third step is to verify income and employment. We do this in several ways depending on the prospective tenant. Sometimes we will simply ask for their most recent pay stubs. But in the case of new employment we will ask for a letter from the new employer. Also, if the prospective tenant is self-employed then we ask for tax returns to verify their business income.

4.) The fourth and final step is a criminal background check. We screen all applicants against criminal and sex offender databases. This screening is not guaranteed, because some criminal records are not in the database, but we have found that it is fairly accurate.

If a prospective tenant checks out against all 4 of these verification, we have found that 80% of the time they turn out to be a good tenant. However, anytime you are renting a property there is a potential for unpredictable events like job loss or divorce.

Get a Free Quote for Property Management by emailing info@SnipesProperties.com or calling 804-482-4200.

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