As a successful landlord, you must have a thorough understanding of how to screen potential tenants for your Kansas rental property. Knowing the Missouri rental laws and how to browse through endless rental applications can help you weed out renters with a bad reputation. In the long run, by renting to high-quality renters you get to save time and money. Here’s how to screen potential tenants for your Kansas property.
Step 1: Understand Kansas’ Tenant Screening Laws
Just like any other state in the country, Kansas has its own laws regarding the screening of tenants. If you take some time to study the legislature, you’ll get a better grip on your business. In time, understanding the rental laws can make the difference between success and failure.
As a landlord in Kansas, you do not have restrictions on how much you can charge for an application fee. Also, these fees are non-refundable, whether you approve them or not. The state gives you an advantage in this matter and helps you receive applications from potential renters that are truly interested in your property.
Tenant Background Checks Require Written Permission
Kansas landlords cannot carry out a background check on potential tenants without their written consent.
A renter who refuses to give their signature on a tenant credit or background check may seem suspicious. On the other hand, it also gives them a bit of leverage in this business and allows them to protect their data against ill-intended landlords.
When renting real estate property owners must pay attention to the Kansas screening laws regarding the security deposit. The state law requires the renter to deposit no more than two months’ worth of rent into the landlord’s account.
Step 2: Kansas Tenant Screening Process
When you first go through Kansas’ tenant screening process you should already have some screening standards in place. To make it easier, write this list down and have it handy whenever sort through applications. This practice will save you precious time, and enable you to go through every deciding factor in your system of values.
Off the bat, you should include criteria like:
- Criminal Record
- Pet Ownership
- Credit Score Range and Financials
- Income to Rent Ratio
- Professional Status
If the prospects meet your requirements then you should be able to easily determine if the application you have in your hands deserves further study. Let’s break down some of these criteria to get a better understanding of them:
Tenant Credit Score Range and Financials
Your ideal tenant should be, above all, financially healthy. A credit check in the last five years of their financial life should give you a clue about how trustworthy that person is to pay his rent on time. Someone who often dwells on the edge of bankruptcy is probably not your best choice for a long-term renter.
Professional Status and Income
A background check with written consent from a potential renter gives you access to their employment status history. This information reveals if the possible future tenant has evolved professionally in the last few years if they can hold a steady job and if their salary covers the rent expenses.
Missouris’ landlord-tenant laws in regard to screening renters, allow you to investigate the prospective renter’s job position and if they have the possibility of moving up. Their current income should be enough to cover rent, basic needs, and savings.
Tenant Criminal Record
This criterion is pretty straightforward. You should always check the criminal record of every rental application you receive. Aside from acts of felony, you should also check for any sex offenses.
Step 3: Identify the Best Renter for your Property
For Kansas landlords that are in the rental business solely to make a profit, screening tenants may seem redundant.
If you want to maximize the profits of your Kansas City rental apartment, but you also want to have high-quality renters, then screening tenants is your best choice. It might seem like a difficult and time-consuming process but luckily there are specialists who can help. You can look into hiring a property manager in the Kansas, MO area to make the real estate investment run more smoothly.
Identifying the best renter for your property is simple if you know the Kansas state laws. Stay assured that the ideal tenant also shares the same knowledge. And just like you, he has his own list of criteria for the ideal landlord.