Here at Nexus Property Management®, we pride ourselves on placing quality tenants in all our properties. Our rigorous 6 point background investigation gives our property owners the best chance of filling vacant properties with the right type of tenants. The most vital stage of the tenant screening process is to find out who the applicant is, where they’ve been, what they do and where they are likely headed. During our background investigation phase, the following 6 areas will be closely examined in order to provide our owners with as much information as possible in order to evaluate each application.
- CURRENT LIVING SITUATION This component examines the tenant’s current and past residences. The current landlord will receive a call from our leasing division to inquire about the current tenancy and to discover if there have been any notable issues (Nonpayment, damages, etc). Most landlords are very open during this conversation and will explain if they are a desirable/undesirable tenant. In addition, their prior landlord will also be contacted in order to hopefully establish a positive trend in tenancy.
- IDENTITY This component examines the tenant’s current and past residences. The current landlord will receive a call from our leasing division to inquire about the current tenancy and to discover if there have been any notable issues (Nonpayment, damages, etc). Most landlords are very open during this conversation and will explain if they are a desirable/undesirable tenant. In addition, their prior landlord will also be contacted in order to hopefully establish a positive trend in tenancy.
- EMPLOYMENT Our leasing division will contact current employment supervisors, obtain scanned copies of paystubs, and also require employment verification letters as well (if necessary). The most important part of renting is finding out whether or not they are likely to pay. Our standard guideline is that tenants collectively earn 3X (or more) the rent amount in monthly income in order to be considered.
- CREDIT HISTORY During our screening, we obtain records from all current creditors and uncover the prospective tenant’s current indebtedness (if any). Our software obtains all amounts owed and lists all creditor's names. In addition, bankruptcies and foreclosures will also appear in full detail.
- EVICTION CHECK Evictions are an immediate red flag, and typically if they appear on a prospective tenant’s record it is not recommended to approve their application. Some extenuating circumstances can apply, but generally, this is an automatic disqualification. An example of an exception was a gentleman who had cancer and did not have health insurance. He fell deep into his medical bills and was unable to pay his rent during that period of time.
- CRIMINAL CHECK A person’s criminal record says a great deal about their character traits. Generally, our staff will take a look at the severity of the charge to determine whether or not their application can move forward. Simple charges like driving with a suspended license can be overlooked, but evidence of robbery, car theft, assaults, etc. are an immediate red flag.
- TERRORIST International and Domestic terrorist databases are screened to verify that the prospective tenant is not wanted by any global agency and/or has not been arrested in the past for this type of crime. It is very rare to come across a prospective tenant with a red flag in this area, but we still check each prospective tenant for your safety
