Charleston property management companies all require applications for prospective tenants. Applications are a necessary part of the leasing process because they help property managers to screen tenants. Most applications will require renters to include their basic information as well as a copy of their photo ID, social security number, proof of income (usually one to two months) and references.
Charleston property management companies use the information they gather in the application to run a credit and background check on applicants and verify that they can afford the home they are applying for. A property manager will also call your references and even past landlords that come up on the background and credit checks.
Some tenant applications are denied, and the tenant may be left wondering why. There are many common reasons that Charleston property management companies may deny your rental request.
- The tenant does not make enough money to pay rent. Most Charleston property management companies require tenants to make three times the monthly rent amount in income.
- Past eviction filings.
- Monies owed to previous landlords or property management companies.
- Credit score too low. Many companies will require a minimum of 520 credit score.
- Bad references.
- Violent criminal history or felonies.
- Unsatisfactory history of paying a comparable amount for rent or a mortgage.
- Pets do not meet the requirements of the lease.
- Other occupants of the home do not meet lease requirements.
Charleston property management companies do thorough checks on tenants to make sure that the homes they manage are occupied by the best possible tenants. The type of tenants you have can make or break your rental business but hiring a property management company to manage the properties is one way you can ensure that your tenants are the most qualified.
If you are ready to let professionals manage your rental property, call Scott Properties of Charleston today!