You might wonder why you need a property manager for your Los Gatos property!? After all, what is so hard about finding good tenants!? Well, if that was the case, why would any company outsource their IT, HR or other non-core functions of their business. The fact, remains that most real estate investors and home owners underestimate the responsibilities of rental property ownership. They also underestimate the amount of legal trouble they could be inviting into their lives by screening the tenants themselves without proper education on the Federal, State and Local laws on discrimination.
Let’s take the case of Tenant Screening where we utilize the following database to find an ideal tenant for our investors:
1) Criminal search for any felony conviction or charges filed against the applicant
2) Search for Eviction of Litigation
3) FDLE sexual predators search to make sure we are not renting to a registered sex offender.
4) Terrorist Alert List: Since 911 the list has been growing and we want to inform our client if their potential tenants are on the goverment watch list.
5) Social Security number verification: Our Tenant Screening includes Social Security Verification which is part of the comprehensive Credit check on your potential tenants.
6) Credit check to determine how individual handles their obligations
7) Employment verification
8) Rental check for previous 5 years
We suspect that a typical investors will not perform such an exhaustive screening for tenant screening. And that’s might be reason enough to use a Property Manager for your Los Gatos rental.