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Why Pre-Approval is Required for Premium Rental Properties
As a property landlord, I can positively state that finding quality tenants for Las Vegas rental properties is a challenge. After years of practice, experience, and actual rentals, it has become very clear that pre-screening of tenants is as necessary as pre-approval when buying a house.
Successful landlords, and happy tenants both benefit from pre-screening. How many times has a landlord passed upon on a good tenant because a bad tenant got away with lies and deception before signing a lease agreement?
Whether you are renting a commercial aprtment complex with hundreds of apartments or your are renting a single home with 1 bedroom, pre-screening of tenants is crucial in running a successful rental business. Conducting rental showings, following up on rental leads, and facilitating in-person showings is time-consuming.
Any person who has detailed experience in being a landlord knows that finding quality tenants is a time-consuming process. Most landlords do have the budget or cash flow to hire a professional property management group.
Therefore, pre-screening helps to maximize time with the least output in dollars. Prospective tenants may answer your Las Vegas Craigslist and set-up an appointment. He/she may or may not show. Las Vegas, NV is well known for flakes and sketchy people.
Still, you must keep your rental appointment. Running to showings for applicants who are unqualified or not truly interested wastes valuable time for both the prospective tenant and the property owner. To combat this, it is now common for landlords to require rental applicant be pre-approved. ? Well, keep reading as we go over the benefits of rental application pre-approval and what this process looks like.
Benefits of Rental Pre-Approval and Background Checks
What Does Pre-approval Mean? Pre-approval for a rental property means that the prospective tenants have gone through a process that proves they may qualify to live there. The initial process may be as simple as a preliminary phone interview that covers basic questions such as: employment, pets, smoking/no-smoking, neighborhood demographics, etc.
It’s important to note that a pre-approval doesn’t mean that the tenancy is pre-guaranteed. Instead, pre-screening is a way for landlords to see which applicants have the best chance of qualifying to eventually occupy a particular property. In fact, tenants may not meet pre-screening for certain property but may qualify for a different property dependent upon the property owner(s).
When dealing with Las vegas roomshares, and shared bathrooms, pre-screening becomes even more important.
Would you like to share a home with a person(s) who has undergone and passed a pre-screening and background check or a person who failed or did not even committ to a pre-screening??
Safety is the #1 priority for tenants and landlords who use the lasvegas-rooms.com platform. We encourage both tenants and landlords to use the pre-screening procedures we have in place.
Is Rental Application Pre-approval Necessary Before Showing a Property?
Before showing any property, it is essential to have numerous photos, a detailed list of amenities that affect the listing property, as well as current demographic data.
Tenants are free to browse the nearby or adjacent neighborhoods.
Although it is not a legal requirement to pre-approve tenants before showing them a property, it’s a win-win strategy that many landlords use to save time and to ensure a high caliber tenant pool. After all, a lot of people may express an interest in your Las Vegas, NV rental property, and he/she may a strong desire to committ to a rommshare agreement. However, this desire for roomshare or raw emotions cannot replace an actual pre-screening.
Pre-screening a tenent will reduce or eliminate certain expenses relating to showing an available property.
Pre-screening covers many topics. Does the prosepctive tenant pay rent on time?? Will the prospective tenant clean-up after himself/herself? Will the prospective tenant obey house rules? Will the prospective tenant respect his/her roommates?
A rental pre-approval will address these type of questions and issues.
Next, let’s go over some of the biggest benefits of pre-approving tenants before showing a rental property.
Benefits of Las vegas Rental Application Pre-approval
Las Vegas, NV has a very transient rental applcation base. Many renters are coming from Californa. California renters tenants are very accusotmoed to rental pre-approval and background check applications.
As most Las Vegas landlords know, there are numerous benefits of pre-approving tenants. For example, asking prospective tenants certain screening questions and getting to know them a little better is crucial in finding a good fit for your rental property.
I have complied some other benefits of rental application pre-approval:
- Provides transparency to potential renters for tenant criteria
- Creates a guard against discrimination claims
- It gives landlords an idea of who will be living in the property
- Allows landlords to weed out people who may cause danger to the community
- Pre-screening helps separate the serious tenant vs. the non-serious tenant.
- Pre-screening saves time, and is better suited to finding quality tenents.
- Pre-screening is a safety net for both tenant and landlord.