Screening potential tenants
Hello everyone,
I have recently started helping out a family member with their rental property and have found out that they have no screening process for tenants. This has obviously led to many issues in the past. I have currently been assisting with pre-screening the potential tenants, showing the property, and screening applications. The property is unfortunately in a low income and high crime area. I am finding it difficult to find applicants with an income of at least 3x the rent or applicants without a criminal background. Does anyone have any experience with properties in these types of areas and do you adjust your minimum requirements for tenants?
Thank you.