A Quick View on Effective Tenant Screening in Anchorage, Alaska

We often get questions on what is the best way to screen a tenant. We have our entire ebook, Tenant Mastery: A Practical Guide for Finding Great Tenants in Alaska to help landlords succeed in Anchorage property management. In a short nut-shell, here is what we'd recommend:

1. Pre-screening: Setting Initial Criteria Pre-screening involves establishing basic eligibility criteria before formally accepting rental applications. DIY property owners can ask about smoking, pets, household size, number of people living in the property and other requirements to filter out unsuitable applicants upfront. By setting clear pre-screening criteria, owners can focus their efforts on applicants who are likely to meet their rental requirements before even showing them the property.

2. Credit Checks: Gauging Financial Responsibility Credit checks provide insight into a prospective tenant's financial responsibility by reviewing their credit history. A good credit score indicates a history of timely payments and responsible financial behavior, making the applicant more desirable. However, owners should be cautious and consider other factors, especially for applicants with no credit history, such as students and young professionals. A credit check often doesn't tell the entire story - and this needs to be remembered.

3. Background Checks: Uncovering Past Behavior Background checks, including searches for criminal records and eviction history, help owners understand a tenant's past behavior. By identifying potential red flags, especially eviction proceedings, owners can make informed decisions and minimize risks.

4. Rental History Verification: Assessing Past Performance Rental history verification involves contacting previous landlords to gather information about a tenant's past rental performance. It involves picking up the phone, or shooting a text, and reaching out. By assessing payment history, lease compliance, and maintenance habits, landlords can gain valuable insights into an applicant's reliability and suitability as a tenant. A lot of owners and property managers don't fully conduct this step.

5. Income Verification: Ensuring Financial Stability Income verification is crucial for assessing a tenant's ability to afford rent payments. DIY property owners typically request proof of income, such as pay stubs or tax returns, to confirm financial stability and mitigate the risk of non-payment. Most recommend an income requirement to be twice one month's rent.

6. Personal connection: This can often be done during the showing. Does something seem off or a bit suspicious? Is something not adding up? Did the potential tenant tell you they didn't smoke during pre-screening only to put out a cigarette on their way to the front door? There are many clues that can be revealed during an in person exchange. Keep in mind, that sometimes new or inexperienced owners can be too sensitive to factors that don't really have any relevance on being a good, paying tenant. It takes experience and knowing what to look when using a personal connection to help form a decision.

Also, keep in mind:

• You should obtain written consent from applicants for contacting references.

• It's best to prepare relevant questions for rental history and reference checks that you ask all and every applicant.

• Verify information provided by applicants and references. (like tax records for previous owners)

• Actively listen during reference checks and pay attention to details and what isn't said or brought up.

• Conduct employment verification to assess stability and income level.
  

Property management in Anchorage (and all of Alaska) relies upon effective screening methods which are essential for DIY property owners in finding reliable tenants and ensure a successful rental experience. By employing a combination of pre-screening, credit checks, background checks, rental history verification, income verification, personal interviews, and eviction history screening, landlords can make informed decisions and mitigate risks in the rental process.