Learn How to Effectively Screen for The Best Residential Property Management Tenants27 Aug 2018
Screening tenants is one of the most important processes of property management in Dubai, or anywhere else for that matter, be it commercial or residential property management. Having excellent tenants is the best thing that can happen to your rental business. With these kinds of tenants, you, the landlord, are assured that your property will be taken care of as if it was their own and there are next to no problems. And these wonderful tenants can be the next ones to live in your property if you and your property manager learn to effectively screen for them.
Screening for The Best Tenants
Why do you have to screen tenants when you can just take any applicant that agrees and signs your lease agreement? The screening process is a crucial part of any Dubai property management company. It helps you land the best tenants, and that lets you reap numerous benefits. Take these, for example:
- Screening tenants will help you find ones that will care for your properties.
- It will provide you with increased cash flow, by preventing property damage costs and other problems that may affect your revenue.
- It provides for longer tenancies.
So, how does one actually screen for the best tenants? Property management companies in Dubai, have different criteria and checklists when it comes to screening applicants. But they all have the same goal in this process, and that is finding the best tenant for your property. The normal screening process would involve:
- Tenant application, whether personal or not, which is a pre-qualifying process.
- Personal qualification process and presentation of the property.
- Analysis of the application and checking referrals.
- Running a credit report, financial standing, employment status and other background checks.
It is important that your screening process is thorough and reliable in order to find the best possible tenants. While the screening process does take time, which you don’t have the luxury of since you lose money with every day your property stays vacant, it is an investment that rewards you with responsible and long-term tenants. And this is exactly what you need to succeed with your rental business.
Now that you know how important screening applicants for your rental property is, let Zawaya Property help you with the process. Zawaya Property is Your Property Optimiser who will help you with all your property investments in order to achieve success in the real estate industry. Find out more about them now and visit their website.