As a new real estate investor, I made a lot of mistakes. Hey, I still make mistakes although I’d like to imagine I make less of them now having four years of experience.
Looking back, though, one of the biggest colossal mistakes I made was not screening tenants well. If there are two things you get right in real estate investing let it be these two: carefully consider your rehab costs, and screen your tenants well.
What to look for in a tenant screening service for landlords?
There are a number of tenant screening products on the market which I’ve listed at the end of this post, but you really want to look beyond just the tenant screening portion of what these different software products offer.
You want to subscribe to a tenant screening service that handles all your property management needs.
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Needless to say, it can become frustrating to have to use a variety of software products to handle all your property management needs. Why not just use one? Below are some features you should look for in a property management software product:
- Monthly subscription price
- Ability to syndicate listings to major real estate sites
- Tenant screening report that includes credit report w/ score + criminal & eviction details
- Ability to receive online rent payments
What is the best tenant screening service for landlords?
I strongly recommend Buildium. I’ve been using Buildium from the very beginning. As a customer for the last four years, I can honestly say it’s a great software that you can grow with.
I started with Buildium when I only had two rental properties, and as I quickly scaled to nearly forty, Buildium scaled right along with me.
So, let’s discuss Buildium in light of the four features mentioned above.
You can try Buildium risk-free (no credit card required) by activating a 15-day free trial. After the trial ends, they’ve got plans starting at $45/mo. Trust me, the $45 will more than pay for itself.
Forget manually listing your rental property on different sites one-by-one. Create your listing once in Buildium, and Buildium will push your listing out to major real estate sites within minutes. For me, that’s all the marketing I do, and I’ve had no problem keeping my properties rented.
Getting back to the topic-at-hand. Buildium’s tenant screening is fantastic. Buildium works with Transunion Smartmove to ensure you get a full credit report (with credit score), criminal history, and any prior evictions.
Online Rent Payments
Collecting rent payments online with Buildium is completely hands-off for landlords. Tenants will get their own online portal where they can log in and make payments.
Other tenant screening services to consider
Although I love Buildium for the reasons I’ve already mentioned, there are other software vendors on the market that offer tenant screening services for landlords as well. Here are some of them you may want to look into:
Screening your prospective tenants well is vital to being a successful rental property owner. The good news is there is software that can help you screen your applicants and manage your rental properties with relative ease.