If you own a rental property renting out your property on your own, chances are you have dealt with tenants who had to be evicted. It isn’t an easy or pleasant process and you lose money every time you have to go through it. That loss is not just in the rent you don’t get paid but also in the fees you pay to get an eviction order and have it carried out.
Finding good tenants on your own is a bit like finding your way through a minefield. Doing background checks is easier now than it used to be but it does cost. Even then, someone who presents as a good potential tenant may prove to be a disaster. Your ability to vet potential renters is limited due to limited resources.
Even if you have tried one or two of the many Denver property management companies in an effort to avoid having to do evictions, you were probably disappointed. In spite of assurances that the property management companies give you, you still had to deal with having to evict tenants.
Though most Denver property management companies to basic background checks, they still miss a lot of indicators that could signal future problems.
When you want to find long term renters, you need to use a property management company that goes beyond the basics in vetting prospective tenants.
This kind of company will present applicants with a detailed list of requirements to even be considered plus a list of requirements if they are accepted as renters.
They don’t accept just anyone who can manage to pay the first and last month’s rent plus a deposit but can’t prove they have the ability to pay their rent every month.
When looking at the Denver property management companies, find out what the eviction rate is for each one you consider. This is possibly one of the best ways to know how well they vet tenants. The lower the eviction rate, the better the vetting process is likely to be. When you find one with a zero eviction rater over a period of several years, this may be the company you want to handle the rental of your property.
Pioneer Property Management is just such a company.
We have celebrated ten years with a zero eviction rate. You can be sure their tenant vetting process is a big part of the reason for this outstanding accomplishment.