I think at this point, it’s safe to say that all of our lives have been affected by Covid-19 one way or another. As the world continues to change, we are doing our part in making sure that our processes are aligned with.
So, what happens if you have a rental listing that you are actively seeking a tenant on? How are you properly screening your tenants right now? Unfortunately, many people have lost their jobs due to Covid-19, and because of this, heavy tenant screening is a must right now.
Fortunately, our 14 tenant screening process has alway been very vigorous, so our process on this has pretty much been the same. Here’s a few tips on what to be doing right now to make sure you are thoroughly vetting your tenant.
- First off, don’t just collect paycheck stubs. Even if someone can produce a recent paycheck stub, it doesn’t mean they are still currently employed. You have to talk to their employer, and I also recommend having that employer fill out an employment verification form as well.
- Again, don’t just collect pay stubs. I did an entire video on this alone. It’s so easy to buy a fake paystub online. Do a google search and you’ll see how easy it is. I bought one and it took me less than five minutes from start to finish to have a pdf of a legit looking paycheck stub.
- But, just because the tenant isn’t currently employed, doesn’t mean that it has to be a hard “no”. Collect proof of unemployment benefits if they have filed and are currently receiving unemployment compensation. You can also ask their previous employer if they will be offered their job back at the same pay rate once the Covid-19 distancing restrictions are lifted.
- And of course, continue to be diligent in getting landlord references. Make sure you are speaking with the current landlord and not just gathering reference letters. I did another entire video on this as well because it is so important.
Above all, make sure you are treating each tenant the same. And be empathetic. These are difficult times for everyone, but people still need to move.
I hope this video was helpful to you. Visit our website at Keyrenterstcharles.com for more info, and check out our youtube channel as well for more videos. As always, stay safe, and stay healthy.