If you rent property, you know it is wise to do a credit check on a potential tenant to find out if it is likely that they will pay on time. Interpreting the report can be tricky and you may decide to overlook past issues that have been cleared or question the tenant about an issue to which they have a seemingly valid excuse. You may end up turning over the keys to a tenant that will destroy your property, skip out on the rent, or worse. I know owners who had a tenant that lied about their employment history, income, past eviction or even their identity and were able to stay in a home for months while the owner struggled to evict.
The criminals are working harder then ever! Identity theft is rampant, crime is high and we must go further and deeper into a tenant’s history and background to verify they are who they say they are. To protect your property and your sanity, today’s tenant screening should include much more then a credit check.
With my multiple level screening process, I can see not only the tenant’s payment history but their criminal history, if they are on any government watch lists, if they have been evicted and verify their identity. Plus, I receive a Rentwise score that tells me if they are a good rental candidate, need to collect additional security deposit, or if we need to say NO and issue the appropriate notice. We’ll discuss the report prior to acceptance and YOU decide.
As a landlord, you also need to be aware that there are requirements issued by the Federal Trade Commission that protect consumer information and certain procedures if you deny an application. Here’s a link to the FTC for more info on the notices that you must give to tenants and what you can do with their personal info. https://www.ftc.gov
Hire House 2 Rent for property management and you don’t have to worry about what you can or cannot do, say and ask, let me take care of that for you! My goal is to find you a great tenant in the beginning so we don’t have to go through an eviction or major repairs on the property. A little due diligence in the beginning can go a long way.