Should You Trust Online Applications for Your Rental Property?

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Should You Trust Online Applications for Your Rental Property?

Should You Trust Online Applications for Your Rental Property?In today’s high-tech world, it seems like just about everything can be done online. So, as the owner of rental property, it is likely that potential tenants will be looking for a convenient way to complete online applications.

Yet, while you may want to provide an easy, fast way to get an empty unit rented (or re-rented), there are some things that you should consider before heading into the online world of screening and accepting your next tenant.

Although it may be more time-consuming, it is important that you ensure the identity of a potential tenant before you hand over the keys. This is most easily done by meeting with the individual face to face.

Today, one of the fastest growing “professions” is cyber crime. While this can take on many forms, a substantial risk that owners of investment property can become victim to is that of fraudsters “stealing” online listings and then using the address to forward mail such as bills for fraudulent purchases, fake loan applications, and other similar criminal activity. (Cyber criminals may also be able to use the information in ways that can trick potential renters out of their money – as well as for compromising their identities).

Once you have verified that a potential tenant is who they actually say they are – and that you have gone through the process of completing a background and a credit check – you’ll be in a better position to execute the lease. At that point, going the route of online rent payment and / or requests for property maintenance can be established.

While the passive income it provides can be beneficial, owning rental property can be fairly time consuming. If you would rather spend your time tending to other activities, hiring a property manager to take care of tenant and property issues could be the answer.

If you want more information on the advantages of working with an experienced property management team in Orlando and the surrounding Central Florida area, give CFL Property Management a call today.

2017-09-04T22:31:12+00:00 By |Advice, Tenant Screening|

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