In order to minimize the potential headaches that can come about from the putting the wrong tenant into a property, we’ve got a thorough screening process that we go to with all prospective tenants.
Our first step is to check the TICA database. TICA is a National Rental Defaulters Database Known as the “Blacklist”.
Provides a 3 year snapshot of the applicant’s rental history, and whether they’ve had any serious defaults in that time we will not engage with tenants that come up on the TICA database.
Further Background Checks
Once we’ve ensured a tenant’s details are on the TICA list we’ll move ahead to doing a;
- Rental Reference Checks with their current property manager
- Employments Checks to ensure that they are working with us where they say they’re working and that they’re earning what they say they earn.
100 points of I.D and ensure that tenants; Sign our terms and conditions, meaning that if there is an issue down the track we’re able to go through the appropriate course of action.
Google Checks to ensure that the employers that tenants have noted down actually exist and that phone numbers are correct. In the event that a tenant isn’t able to give us a rental reference because they’ve said that they have owned their own property, we’re able to run Property Ownership Checks to ensure that, that is actually because all of these checks are been compiled with information we’ve already collected through our own personal dealings with these tenants and inspections and that helps us to make what we think is an informed decision on who the best tenants are for our client.
Throughout our users property managers, we’ve also come to learn a few red flags that can pop up on tenant’s applications. For example, if a tenant needs to desperately move into a property within the next two days, there might be a negative reason that has led to that desperation to find anything. We try to identify these red flags and investigate them further so that we can give all 10 tenants the opportunity to put their best foot forward, but we’re also protecting our clients interest in their problems. If we identify red flag we do our best to investigate this and make sure that we get to the root cause of the tenants motivations.
Attracting and selecting high quality tenants is the most important role that we can play on behalf of our clients.
If you’d like to talk any further about our processes and our experiences in this area, please don’t hesitate to get in touch.