Per the latest data from ZipRecruiter.com, the typical landlord in Minnesota earns an average annual salary of $85,483, with a small percentage (top 4%) making as much as $147 grand!
Wouldn't it be incredible if you, as a Brainerd, MN, landlord, can make that much, too? Of course, it would, and one of the most crucial steps to generating (and protecting!) rental income is finding the right renters with the help of reputable tenant screening services.
Keep reading as PMI Minnesota's professional property managers in Brainerd, MN, put together this guide with tips for hiring tenant placement and screening experts in town.
1. Evaluate Experience and Reputation
Research tenant screening providers' experience in property management in Brainerd, MN. Local companies often better understand the tenant market and regulations affecting rental properties.
Look for providers with a strong reputation by examining online reviews and testimonials from other landlords. Positive feedback can indicate a reliable and efficient tenant screening service. Check platforms like Google, Yelp, or specialized real estate forums for unbiased, honest assessments.
2. Understand Their Tenant Screening Process
Ask prospective tenant screening services providers about their specific criteria during the screening process. Reliable companies should, at the very least, assess the following:
- Credit score and history
- Rental history
- Eviction records
- Criminal background
- Employment status and income sources
You should also choose a company that provides transparent reporting on the screening results. A detailed report should cover all relevant aspects, allowing you to assess applicants thoroughly. Clear criteria ensure that you make informed decisions based on consistent evaluations, and transparency fosters trust and aids in making informed tenant placements.
3. Review Compliance With Fair Housing Laws
Ensure the screening service complies with federal and state fair housing laws. The company must implement non-discriminatory practices and treat all applicants equally.
Compliance with fair housing laws protects your business and income from potential legal trouble. It also enhances your reputation as a fair and legally abiding landlord in the Brainerd, MN, real estate community. The better your reputation, the more "in-demand" you and your property will be, helping you attract new residents and keep your existing tenants.
4. Consider Full-Service Property Management
Some tenant screening providers are full-service property management companies. A perfect example is our firm, PMI Minnesota. Our comprehensive suite of property management services includes the following:
- Conducting rental analyses
- Marketing and listing your property
- Acquiring or placing tenants after extensively and fairly screening them
- Enforcing the lease
- Collecting rent
- Overseeing property maintenance, repairs, and updates
- Assisting with accounting and financial reporting
- Eviction protection
You'll also be happy to learn that we back our management services with numerous residential guarantees.
Let PMI Minnesota Find You High-Quality Tenants
Investing in tenant screening can help you find qualified tenants most likely to adhere to the lease's terms and conditions and pay rent on time.
At PMI Minnesota, we aim to help our clients generate stable, on-time income by finding and placing highly qualified tenants in their rental properties in Brainerd, MN. We're a locally and independently owned and operated company and a proud PMI franchisee. PMI, the country's largest property management franchisor, has helped change and perfect the industry for over 20 years.
Call us today to request your free property consultation!
