Tenant screening is an essential practice in property management. It helps property owners find reliable tenants who will pay rent on time, maintain the property, and cause minimal damage. According to a survey conducted by property management company, NoBroker, over 56% of property owners in Mumbai have faced tenant issues like non-payment of rent, property damage, or violation of lease agreements.
To avoid such issues, property managers should conduct a thorough background check of potential tenants. This includes checking their credit score, employment history, and rental history. In Mumbai, tenants typically spend 30% to 40% of their income on rent, so it’s essential to ensure that they can afford the rent and are financially stable.