Bad news. Your tenants aren't paying rent, they are damaging your property, and evicting them requires a lot of time that you don't have.
You might be great at managing your investment property, but you don't know how to screen and find quality tenants. With your criteria in mind, tenant placement services in Eagan, MN can help you out.
Keep reading to learn what to look for when hiring tenant placement companies.
1. Look for Screening Expertise
A good tenant placement service will have tenant screening expertise. This means they can check:
- Credit histories
- Background check
- Rental histories
- References
The goal of tenant screening is to determine how reliable applicants are. When searching for tenant placement services, learn about the steps of their screening process.
Ask about the criteria they use to evaluate applicants. Make sure the screening process aligns with your expectations and standards as well. You can create a list of criteria for the tenant placement service to follow.
Eagan, MN property management with a strong focus on tenant screening increases the likelihood of renting to responsible tenants. This mitigates your risk of possible issues like late rent payments down the road.
2. Verify Their Real Estate Experience
Property managers in Eagan, MN who offer tenant placement services need to have an understanding of the local real estate market. This specific experience is essential because they will understand local laws and regulations.
Ask potential tenant placement services about their track record in a designated area. How long have they been operating there? How many successful tenant placements have they made?
The familiarity with the area not only helps with compliance but can aid in setting competitive rental rates. Overall, these services will help you make the right decisions for a successful investment.
3. Assess Fees and Agreement Terms
Before making a final decision, you need to understand the fees you are required to pay. A tenant placement service should create an agreement in writing. Read all of the terms of the agreement thoroughly.
The terms will vary from property management company. Make sure you understand the fee structure. Services will typically charge a one-time fee or a percentage of rental income.
Fees should be reasonable and align with your budget requirements. Visit your rental property accounting records to help you create a budget for these services.
Make sure you understand contract termination clauses. You need to be comfortable with the commitment and flexibility level of a tenant placement partnership.
Let Us Help With Tenant Placement
Tenant placement involves finding qualified renters for your investment property. If you struggle to screen tenants on your own, you don't have to!
With the tips in this guide, you can find a tenant placement service that is right for your needs.
At PMI TC Metro, we have years of experience placing quality tenants. With our help, you won't have to worry about bad tenants who damage your property or who don't pay rent.
Fill out our form today to learn more about our beneficial services.
