For prospective renters, the tenant screening process can often be a mystery. Some property management companies are not open to offering details about their tenant screening process. At Red Door Company, we believe in total transparency when it comes to the landlord and tenant relationship. Part of that transparency involves sharing how we evaluate prospective tenants who are looking to rent a home in Raleigh, Durham and Chapel Hill.
The content below offers insight into our tenant application screening process. We believe conducting a thorough tenant screening is not only beneficial for landlords but also helpful for tenants by making sure they are a good fit for a rental property. If you have any questions about the rental application or tenant screening process, please do not hesitate to contact us.
Evaluating Applicants on an Individual Basis
Prospective tenants often ask whether we have a minimum credit score or income ratio we require to approve an applicant. We don’t have any minimum requirements or automatic disqualifications. Each of our landlords has his or her idea of a suitable applicant. Every applicant is evaluated individually, and decisions are made based on the totality of the applicant’s circumstances.
After all, each prospective tenant’s application is as unique as the applicant, so why try to treat all applications the same? We all have strengths and weaknesses, and at Red Door Company, we don’t judge an application on just a few narrow criteria. We think that’s the Right Way to Rent®.
Credit Report
At Red Door Company, we evaluate a prospective tenant’s entire credit report, and not just a score, as part of our tenant screening process. Your credit report contains information detailing your credit history and paints a more accurate picture of your financial history than a score alone can offer. For example, a low credit score may be solely attributable to a catastrophic medical issue that has nothing to do with how an applicant is likely to perform his or her duties as a tenant.
To learn more about credit reports, visit the websites of three major credit-reporting agencies: Equifax, Experian and TransUnion. Prospective tenants should check their credit reports for inaccuracies prior to submitting a rental application and monitor their credit on a regular basis.
Criminal Background Check
Conducting a thorough criminal background check before renting a home to a prospective tenant is another important step in the tenant screening process. Criminal background checks are not performed solely to provide peace of mind to our landlord clients. We perform thorough criminal background checks on all of our prospective tenants to create safe communities. By screening tenants, we can do our part to ensure that landlords make positive contributions to their neighborhoods.
Check of Civil Records
When evaluating potential renters during the tenant application screening process, we search court records to learn whether an applicant has ever been party to an eviction. Your prospective landlord wants to understand any risk he or she may be taking on. However, we understand there are many reasons people file suit and will listen to applicants whose civil record reports warrants an explanation.
Late Payments and Security Deposit Deductions
Do you have a history of paying rent late? Is your rental history showing a long list of security deposit deductions? Red Door Company has access to a growing database of information regarding both late payments and security deposit deductions. Both of these factors come into play on our decision whether or not to approve a tenant’s rental application. We encourage applicants to be open and honest about any past troubles they may have had. We are just as interested in your future as we are in your past.
Check of Sex Offender Registry Under Megan’s Law
Megan’s Law is the common term for state laws that create and maintain a sex offender registry that makes information on registered sex offenders available to the public. Red Door Company checks the public sex offender registry in North Carolina when screening applicants. Landlords are entitled to know whether an applicant is a registered sex offender, and Red Door Company has a duty to investigate and report our findings to the landlord. If you are registered and are applying for one of our properties, please be prepared to provide a full disclosure of the events leading to your registration.
Other Tenant Screening Steps
There are times when evaluating an applicant requires more than our standard screening process. Our landlord may request additional information or documentation to help him or her make a decision. We may need lease verification from prior landlords, proof of income, proof of assets, and more. Obtaining a full understanding of an applicant’s situation helps a prospective tenant as much as it does a landlord by helping to frame clear expectations and establish trust.
It bears repeating that Red Door Company believes in total transparency when it comes to the landlord and tenant relationship. When you rent a home in North Carolina with us, you will have access to a set of clear policies and procedures to ensure a trouble-free tenancy without any unpleasant surprises. This transparency is one reason Red Door Company is The Right Way to Rent®. For questions about our tenant application screening process or any of our North Carolina homes for rent, please do not hesitate to contact us.
