Evictions are one of the most complex tasks a landlord and/or property manager can undertake as a part of doing business in the rental market.  Adam Almeida, President and CEO of TenantScreeningUSA.com urges all landlords and property managers to utilize third-party tenant screening company’s and states: “As the rental properties remain in high demand, now, more than ever, is the time to work with tenant screening companies, if only to understand the complexities of evictions.”
Evictions are a complicated matter and for landlords and property managers evictions are a key indicator to the potential success of a long-term tenant.

Adam Almeida, President and CEO of TenantScreeningUSA.com states:  “Understanding the past is critical in predicting the future of a potential tenant and understanding evictions is at the core of all tenant screening.”

Tenant screening is a process in which a rental applicant’s past is correlated through various public records and available references.

From realtytoday.com (Nov. 25, 15):

Tenant screening is a process conducted by landlords and property managers to evaluate if prospective tenants can fulfill the terms of the lease, and if they can take care of the property in question. The process typically involves collecting personal identifying information, including employment, credit records, previous realty standing, and criminal history.  (1)

Almeida states:  “The rental housing market remains extremely advantageous to the landlord as vacancies remain relatively low.  But key in maintaining profitable long-term residents is tenant background checks. Evictions are important to understand but they can prove challenging.”

A woman moving to Washington State recently discovered that she “failed” an evictions check even though she had never legally been evicted.

From KIROTV.com (Nov. 17, 15):

… when she applied for an apartment after moving to Washington state, her tenant background screening gave her a “fail” for having a landlord-tenant court record. Some landlords immediately assume that was an eviction and deny housing, despite the fact that many tenants are never forcibly removed from their units. (2)

Tenant screening companies operate under the guidance of the Fair Credit Reporting Act (FRCA) and can only report evictions that occur up to seven years in the past. (3)

Almeida states:  “It is important to note that eviction reports may not necessarily report convictions.  Often times they will report eviction actions that are resolved without any additional court action.”

Utilizing a third-party tenant screening company not only has the access to all records pertaining to evictions but can save valuable time with the ability to check references, specifically those with previous landlords or property managers.

Experts suggest that contacting a previous landlord as the best course of action regarding a potential tenant.

From realtytoday.com (Nov. 25, 15):

…the best way to conduct tenant screening is still the old-fashioned way.  “A very effective practice is calling the last landlord, who has no ulterior motive to give you a false positive. But of course, the only landlords who can do that are those who have the time and don’t depend on volume…”  (4)

Almeida states:  “As the rental market stays hot it is critical that landlords and/or property managers utilize third-party tenant screening companies to conduct all their tenant checks, but, perhaps more importantly, to thoroughly investigate eviction reports and claims in order to present the most accurate information available.”

TenantScreeningUSA.com is a third-party tenant screening company whose highly trained staff can guide landlords and property managers through the various complexities of evictions and eviction reporting.  Well versed in all aspects on tenant screening, TenantScreeningUSA.com can provide a highly efficient and cost-effective tenant check package for properties large and small.

Notes:

(1)    realtytoday.com/articles/55374/20151125/tenant-screening-why-landlords-conduct-background-checks-before-accepting-offer.htm

(2)    kirotv.com/news/news/never-evicted-still-failing-tenant-background-chec/npPpg/

(3)    kirotv.com/news/news/never-evicted-still-failing-tenant-background-chec/npPpg/

(4)    realtytoday.com/articles/55374/20151125/tenant-screening-why-landlords-conduct-background-checks-before-accepting-offer.htm

In the United Kingdom there is movement that will, potentially, legally require landlords and property managers to deny rental property to illegal immigrants via the tenant screening process.  In the United States this practice remains illegal, however, the challenges in the United Kingdom should be closely watched, states TenantScreeningUSA.com’s President and CEO, Adam Almeida.
Recently the government in the United Kingdom debated a new measure being pursued in regarding rental properties and potential tenants.

It has proven highly contentious.

From TheGuardian.com (Oct. 11, 15):

Government plans to force landlords to carry out extra checks on a tenant’s immigration status risk “everyday racism” and could lead to widespread discrimination, Labour has said.

The immigration bill, which will be debated by MPs on Tuesday, would make renting out accommodation to illegal immigrants a criminal offence. (1)

This dramatic stance has caused considerable concern and will force landlords to check the legal status of renters.  Many potential challenges came to light during a trial of new policies.

From TheExpressAndStar.com (Oct 11, 15):

According to the Joint Council for the Welfare of Immigrants, more than 40% of landlords who took part in the pilot said the scheme had made them less likely to rent a property to someone who did not have a British passport, while more than a quarter said they were reluctant to engage with people with foreign names or accents. (2)

Adam Almeida, President and CEO of TenantScreeningUSA.com states:  “The challenges by this potential law in the UK are numerous.  Not only are landlords legally required to confirm immigration status, the potential for unwitting bias or disparate impact is significant.”

Ultimately the law could become a human rights challenge.

From LettingAgentToday.co.uk (Oct. 13, 15):

Government proposals forcing agents and landlords to check the immigration status of tenants risk a serious breach of human rights according to an official watchdog.

The Equality and Human Rights Commission is reported to have warned MPs ahead of today’s second reading of the Immigration Bill in the House of Commons that the Right To Rent proposals which may ultimately lead to the fast-tracked eviction of illegal immigrants and their children risk breaching human rights law. (3)

In the United States there are laws governing a lawful and legal right to work and, subsequently, rent.  Landlords and property managers can request I-9 documentation in many cases to prove lawful employment status.  An I-9 document ascertains an individual’s eligibility right to work under immigration law.  However, some states, such as New York and California, prohibit asking immigration status during the tenant background check application process. (4)

Almeida states:  “While the potential new law in the United Kingdom raises some challenging questions, just as the laws governing tenant screening in the United States remain challenging.  A continuing best practice for all property managers and landlords is to work with a third-party tenant screening company in order to remain compliant with all laws governing the fair and lawful use of public records as well as I-9 documentation.”

TenantScreeningUSA.com is a third-party tenant screening company versed in the legal and lawful use of public records as a tool of tenant checks.  A highly trained staff can provide guidance to property managers and landlords with properties large and small.

Notes:

(1)   theguardian.com/uk-news/2015/oct/11/immigration-checks-discrimination-labour

(2)   expressandstar.com/business/uk-money/2015/10/11/labour-warns-of-everyday-racism-in-tenant-check-proposals/

(3)   lettingagenttoday.co.uk/breaking-news/2015/10/mps-debate-right-to-rent-today-as-watchdog-issues-human-rights-warning

(4)   nolo.com/legal-encyclopedia/how-screen-select-tenants-faq-29137-7.html

Tenant screening is a critical component in vetting tenants for rental properties, large or small.  Good tenants remain key to a profitable relationship, protecting existing property and neighbors; and tenant screening is a primary tool toward obtaining that goal.
Property managers and landlords have one key goal:  Keeping rental properties occupied.  In an era where rental properties are at a premium one might suspect that gaining a renter to be a fairly simple task.  Certainly there are available individuals and families that can occupy a property but a long-term renter, one that produces predictable income, can be more of a challenge.

From RealtyToday.com (Sep. 18, 15):

“… as a property manager, you don’t want a ‘bad’ renter.” A bad renter is someone who is late on payments, someone who tears up the floorboards, or someone who has bad credit. Jefferson went on to describe that this type of renter can lead to increased turnover, costly maintenance repairs, and eviction headaches.  (1)

Screening a new tenant is more than reviewing public information as provided by a qualified third-party tenant screening company.

Adam Almeida, President and CEO of TenantScreeningUSA.com states:  “It is critical that a landlord or property manager has a complete and thorough process when vetting a potential tenant, something more than a simple review of information.”

From RealtyToday.com (Sep. 18, 15):

You should conduct a thorough credit and background check of the prospective renter, contact past employers, references and landlords, and then thoroughly assess the results… Ask the applicant many questions in your first meeting and compare the applicants’ answers with the ones you gathered during your background and reference check. If you find the applicant dishonest or inconsistent, then you might be up for a big risk…(2)

Understanding tenant/landlord laws can easily be overlooked by landlords and property managers.

Almeida states:  “A thorough tenant background check is the process toward a good tenant but it is really incumbent on the landlord or property manager to understand the legal environment they work within when conducting a tenant check.”

A number of laws protect landlords in varying degrees across the country with each state slightly different from the next.

From Ahwatukee.com (Oct. 10, 15):

Arizona has favorable landlord laws. However, you still need to follow and know the specific landlord-tenant provisions that cover security deposits, access to the property and notice required when you want to end their tenancy. There also are federal laws you need to know, such as habitability and fair housing laws. (3)

Going the lengths a thorough tenant check demands will reward landlords and property managers.  Understanding the financial capability of a potential tenant, combined with past information public records provide, is a first step.  A complete interview and verification of references adds greatly to the verification process.

Almeida states:  “As any landlord or property manager knows a good tenant is critical to the success of a property.  A thorough vetting of prospective tenant information will add greatly to the success in gaining a good tenant.”

TenantScreeningUSA.com is a third-party tenant screening company with operators well versed and trained with all laws and regulations governing the use of public records for tenant screening.  With the ability to pull information like credit and criminal checks, TenantScreeningUSA.com can provide all the information required to make an informed decision regarding perspective tenants.

Notes:

(1)   realtytoday.com/articles/36503/20150918/3-helpful-tips-when-screening-for-high-quality-tenants.htm

(2)   realtytoday.com/articles/36503/20150918/3-helpful-tips-when-screening-for-high-quality-tenants.htm

(3)   ahwatukee.com/real_estate/article_69de5d5a-6ee1-11e5-b339-bf7b7be27964.html

California’s rental market continues to heat up and the use of Ellis Act based evictions continues to rise. Subsequently, tenants and landlords continue to face off over the fair and legal use of evictions.

Adam Almeida, President and CEO of TenantScreeningUSA.com states: “The increased use of the Ellis Act in California highlights the rapidly changing rental market in that state, specifically in Los Angeles and San Francisco, and further politicizes tenants and maybe spark further change in the rental market in regards to evictions.”

The goal of any landlord is to gain long-term residence in order to create a predictable income. However, as rental values continue to rise long-term renters are displaced in order to take advantage of higher values and rental rates.

As reported in The San Francisco Chronicle (Jul. 27, 15):

 The number of rent-controlled San Francisco tenants receiving eviction notices is rising sharply, the latest evidence that the city’s economy continues to drive the displacement of long-term residents. (1)

A common tactic for eviction is the use of the Ellis Act. This law has been frequently used in San Francisco (2) and, increasingly, in Los Angeles.

From The Sacramento Bee (Jul. 31, 15):

Political and legal wars have erupted in both regions, and pressure is building on local officials to step in with tighter anti-eviction laws and on the Legislature to modify the Ellis Act, a three-decade-old state law that allows landlords to evict tenants to demolish units or convert them into condos. (3)

An additional challenge to renters is the so-called “gotcha eviction.” A “gotcha eviction” is based on a stringent interpretation of lease agreements.

From The San Francisco Chronicle (Jul. 29, 15):

… a “gotcha eviction” — a category of breach of contract or nuisance eviction that has doubled since the real estate market started taking off in 2011. According to the San Francisco Rent Board’s Annual Eviction report, there were 2,120 notices of evictions filed for the year ending Feb. 28, 2015 — a 54.7 percent increase over five years ago. The number of evictions targeting tenants accused of violating their lease or causing a nuisance has doubled since 2010. (4)

Adam Almeida states: “The challenges landlords and renters are going through in California may lead to a greater change in the rental landscape. As low-cost housing struggles continue governmental change may occur and that could create concern over the use of eviction records”

Eviction records contain critical information a landlord needs to make an informed decision regarding a potential tenant or tenants. As an integral part of the tenant screening package, eviction records combined with consumer credit reports provide invaluable background history for landlords and property managers.

Almeida states: “Ultimately landlords and property managers should utilize a well-qualified tenant screening company in order to remain compliant with existing laws that govern tenant background checks, as any change in law that may come about due to the developing battlefield between landlords and tenants in California.”

TenantScreeningUSA.com provides full service background screening to landlords and property managers of any size. TenantScreeningUSA.com offers tenant screening packages that include a national eviction search, national sex offender check and national criminal background check.

Notes:

(1) sfchronicle.com/politics/article/Why-S-F-evictions-are-on-the-rise-6408950.php

(2) sfchronicle.com/politics/article/Why-S-F-evictions-are-on-the-rise-6408950.php

(3) sacbee.com/news/politics-government/dan-walters/article29765722.html

(4) sfchronicle.com/bayarea/article/S-F-tenants-groups-fight-gotcha-evictions-6413712.php

With summer in full bloom and most of the kids out of school the moving season is in full effect. All across the United States thousands of families pack their bags and boxes and move.

Contrary to popular belief summer IS the key time to move.

From MultihousingNews.com (Jun. 15, 2015):

Summer tends to be a peak time of the year for relocation, driven by numerous factors: longer daylight hours, better weather, the arrival of tax refunds that can be used for rent deposits and down payments, and kids are out of school. (1)

Many transitional renters are finding the market difficult in terms of vacancies and available rental units.

In the Seattle area rental vacancies are down significantly and apartments fill just as quickly as they are built. (2)

Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Despite the advantage landlords and property managers currently hold regarding declining vacancies, there are still challenges.”

One key aspect of renting is landing a long-term resident, individuals or families that create predictable income for the property. During the busy summer months potential renters may base their buying decision on the appearance and condition of the property.

From FortuneBuilders.com (Oct. 23, 14):

Property condition is where most real estate investors sabotage themselves. (3)

Almeida states: “Keeping a property in top shape and well maintained will draw in those potential long-term renters.”

Another important factor in the fast-paced summer rental season is speed to acceptance.

From MultiHousingNews.com (Jun. 15, 15):

If you have access to e-applications, online tenant screening, and digital signature options, your new resident can sign the lease as soon as they find the home of their dreams. (4)

TenantScreeningUSA.com offers a tool to landlords and property managers that greatly increases speed to acceptance.

Almeida states: “In partnering with TransUnion, TenantScreeningUSA.com can help landlord and property managers greatly streamline the rental application process.”

When speed to approval is a high priority TenantScreeningUSA.com has the solution. Key elements of the tenant screening services are:

• Immediate access—no waiting for approval, no documentation necessary
• Pay only when you use—no set-up fees, no minimums
• Prompt results—custom report and leasing recommendation in minutes
• Choice of who pays—landlord or renter
• Joint-tenant recommendations—single recommendation for a group of joint renters

Tenant screening packages can be customized to the unique requirements of any landlord or property manager. Typical tenant background check reports include:

• Consumer Credit Report
• Eviction Records
• Criminal History
• Sex Offender Registry

Further, it is critical that a landlord or property manager utilize a third-party tenant screening company.

Almeida states: “Regardless who one chooses it is very important that a third-party tenant screening company be engaged as they are charged with staying compliant and operating legally under all state and federal laws.”

TenantScreeningUSA.com is a third party tenant screening company serving the small to mid-size rental community. With a highly trained and dedicated staff, TenantScreeningUSA.com can create a low-cost and fully compliant tenant screening package to fit ones needs. Understanding that speed to acceptance and return of accurate information is critical, TenantScreeningUSA.com is there to help.

Notes:

(1) multihousingnews.com/features/summer-leasing-craze/1004121956.html

(2) kirotv.com/news/news/report-apartment-availability-lowest-decade/nmkqD/

(3) fortunebuilders.com/7-things-look-profitable-rental-property-investment/

(4) multihousingnews.com/features/summer-leasing-craze/1004121956.html

Landlords and property managers have a tough enough job keeping track of repair and maintenance on a property, and when one considers the task of dealing with new and existing tenants, the role becomes increasingly complex.

But it need not be. Once a landlord has the right tools and knowledge managing a property can become relatively easy.

First and foremost a landlord must attract the right tenant.

One of the key tools a landlord can utilize in vetting a new tenant is a background. Often times a tenant background check will include a wide variety of public and private data points. When combined together these key pieces of information provide a landlord an important resource in making a rental decision.

Besides a consumer credit report, a criminal history can be one of the more common public records a landlord reviews.

From American-Apartment-Owners-Association.org:

It’s a fact that employing strong tenant screening practices help identify tenants who will end up being a good fit for your rental property, and ‘weeds out’ many of the applicants who would cause you problems. A tenant criminal history check is a key piece of any solid tenant screening process. (1)

Criminal history reports are documents drawn from county courthouses and are the most current and accurate public record available.

Adam Almeida, President and CEO of TenantScreeningUSA.com states: “The Criminal History report is an important document utilized in background screening, both for pre-employment purposes and rental agreements. Understanding an individual’s criminal history is extremely important.”

A best practice for tenant screening is to utilize a third-party tenant screening company, one that is up-to-date and conversant on all current local, state, and federal laws governing the use of public records.

From American-Apartment-Owners-Association.org:

A tenant criminal history check conducted by a third party company (your tenant screening company) is considered an investigative report by the FCRA. The FCRA requires that landlords follow certain procedures in ordering and utilizing an investigative report. These regulations include getting the applicant’s consent to agree to a search, as well as following adverse action procedures. Basically, if a landlord decides to not rent to a person based on information they find in the investigative report, the landlord must notify the applicant by mail (with a document called an adverse action letter). The applicant then has a chance to dispute the information with the tenant screening company. (2)

Once a tenant is in place it is critical to deal with any issues quickly and efficiently. It is important to have a dispute resolution program in place and document all issues. (3)

Unfortunately, not every dispute will have a resolution that is mutually agreeable. This may lead to the eviction process. And evictions can be very challenging.

From Nolo.com:

A landlord can’t begin an eviction lawsuit without first legally terminating the tenancy. This means giving the tenant written notice, as specified in the state’s termination statute. If the tenant doesn’t move (or reform — for example, by paying the rent or finding a new home for the dog), you can then file a lawsuit to evict. (4)

Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Evictions are a tricky process and a landlord must follow very specific state mandated procedures. Failure to comply to the letter of the law may create a legal quagmire. It may be beneficial to a landlord to work with a lawyer specializing in evictions.”

Being a landlord has a great many challenges. When one has a solid tenant screening policy in place, one that includes a thorough tenant check, avoiding dispute and potential eviction is possible.

TenantScreeningUSA.com is a third party tenant screening company serving the small to mid-size rental community. With a highly trained and dedicated staff, TenantScreeningUSA.com can create a low-cost and fully compliant tenant screening package to fit ones needs.

Notes:

1. american-apartment-owners-association.org/property-management/tenant-screening/best-practices-use-tenant-criminal-history-to-screen-tenants/
2. american-apartment-owners-association.org/property-management/tenant-screening/best-practices-use-tenant-criminal-history-to-screen-tenants/
3.  lpmmags.com/6-easy-ways-to-handle-tenant-disputes/
4.  nolo.com/legal-encyclopedia/evictions-landlord-rules-29740.html

Recent attacks by in-home contractors highlight the urgent need for background checks for any working professional conducting in-home repairs or installations. Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Tenants have the right to know who is entering their homes and landlords and/or property managers, as well as tenants, must have the ability to review background screening policies of all contractors.

Whether or not one owns or rents the right to safety and security while in the home or apartment is paramount. Everyday people allow contractors into their homes to provide installations or repairs. Often these contractors are complete strangers and very little is known about their background. A commonplace situation could become a tragic situation very quickly.

Home owners, as well as landlords and/or property managers, should have the right to request and review any background history on an individual(s) entering the home.

Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Regardless if the landlord utilizes their own maintenance people or outside contractors it is critical these individuals have been vetted prior to entry.”

An incident in St. Louis, Missouri highlights the potential threat to a tenant.

From www.StLouisToday.com (Mar. 06, 15):

 A woman who was sexually assaulted by a cable repairman is suing her attacker and three companies, claiming the crime could have been prevented if they had done better background checks. (1)

Tenant background checks are commonly conducted on all perspective tenants. These checks review many of the same public documents one might utilize in checking a contractor’s background.

Almeida states: “Utilizing a third-party background screening company would be critical in conducting a tenant check. Often times these same companies conduct contractor background checks but it is important the background check is thorough.”

Just as a landlord would want a tenant check to cover all possible aspects of a perspective tenant, utilizing criminal history, sex offender, evictions, personal references, and other related reports; a tenant would expect the same thoroughness conducted on contractors.

Almeida states: “In the St. Louis case the thoroughness of the contractor’s background check is called into question.”

From www.StLouisToday.com (Mar. 06, 15):

 “…none of the companies checked … previous employers or personal references before hiring him, and the limited criminal background check that was performed was inadequate …” (2)

In Franklin, NY a woman claims theft by a contractor.

From www.7OnLine.com (Apr. 27, 15):

 “One woman had thousands in jewelry stolen from her home while workers were there, and when she learned about the employee’s criminal history, she was shocked.”

“… has a rap sheet that goes back a decade and includes theft, drugs and resisting arrest. Servpro’s owner admitted he did a background check and decided to hire … anyway.” (3)

Ultimately a thorough background check can greatly assist in making a decision as to who one might allow entry to a rental or owned property.

Almeida states: “The issue of contractor malfeasance is one not commonly discussed, but it is critical that landlords and property managers, as well as home owners understand who they let past the front door. Tenant checks protect the landlord/property manager and contractor background checks protect the tenant and property owner.”

TenantScreeningUSA.com is a third-party tenant screening company that provides tenant checks to landlords and property managers for all sizes and types of rental complexes. From the single-unit to the large community, TenantScreeningUSA.com has the ability to customize a tenant screening package specific to a managers unique requirements. For more information on Contractor Background Checks contact CriminalBackgroundRecords.com.

Notes:

1.  stltoday.com/news/local/crime-and-courts/cable-repairman-s-past-should-have-been-caught-in-background/article_045909f3-6488-50a9-9770-165d53390dc7.html
2. stltoday.com/news/local/crime-and-courts/cable-repairman-s-past-should-have-been-caught-in-background/article_045909f3-6488-50a9-9770-165d53390dc7.html
3. 7online.com/society/7-on-your-side-customer-says-contractor-stole-her-jewelry/684110/

Tenant screening is a complex task conducted by landlords and/or property managers as a part of the new tenant vetting process. A tenant check is a collection of data that allows a landlord or property manager to make a well-informed decision. There are a number of public records utilized as a part of this process as well as a variety of reference checks and verifications.

Wikipedia describes tenant screening as follows:

Tenant screening is a process used primarily by residential landlords and property managers to evaluate prospective tenants. The purpose is to assess the likelihood the tenant will fulfill the terms of the lease or rental agreement and will also take great care of the rental property in question. The process culminates in a decision as to whether to approve the applicant, approve the applicant conditionally (such as requiring an increased deposit or cosigner) or deny tenancy. (1)

Reports commonly used are:

1. Consumer Credit Report – Used to verify financial wherewithal.
2. Evictions – Used to verify an applicant’s rental history.
3. Criminal History/Sexual Offender Registry – Used to verify an applicant’s legal history.

Verifications commonly used are:

1. Rental History Verification – Past landlords and/or property manager’s reference.
2. Personal – Friends, Family, and/or work colleagues contact as character reference.

Ultimately, tenant screening has a variety of laws and regulations that control the fair, legal, and lawful use of public records in the context of a tenant background check. The Department of Housing and Urban Development (HUD) retains a responsibility to regulating tenant screening as does the Fair Credit Reporting Act.

However, it is important to note that recent changes with the use of Criminal History Records as a part of pre-employment screening may eventually affect the use of Criminal History Records as part of tenant screening.

Recently, the Equal Employment Opportunity Commission released guidance as to the fair and legal use of criminal histories as part of pre-employment. Also, ban-the-box legislation across the country has changed when and where the question of a criminal past can be asked as part of the application process. In a very general sense, the legal and lawful use of criminal records has changed.

Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Tenant screening, on the surface, is remarkably simple, but the changes in the legal and lawful use of criminal history will eventually affect tenant screening and create a more complex legal environment. Just as the laws governing employment background screening have changed, laws governing tenant screening or those specific to tenant screening will change.”

Over 16 states and numerous cities have enacted legislation specific to the use of criminal histories with employment screening. These laws are generally similar but not uniform and, to date, there is no federal law creating a uniformed mandate. Subsequently the legal climate over the use of criminal histories remains challenging.

Almeida states: “As the laws governing the use of criminal history records, and public records in general, evolve it should eventually become uniform. This holds true for tenant screening. Subsequently it becomes incredibly important to utilize a third-party tenant screening company to maintain compliancy with local, state, and any federal law governing the use of public records.”

TenantScreeningUSA.com is a third party tenant screening company serving the small to mid-size rental community. With a highly trained and dedicated staff, TenantScreeningUSA.com can create a low-cost and fully compliant tenant screening package to fit ones needs.

Notes:

(1) en.wikipedia.org/wiki/Tenant_screening

The conversion from primary property to rental property continues to expand in the single-family housing market. As more and more homeowners become landlords there are three “P’s” commonly referred to in order to have a successful investment: Property, People, and Perception. One must have an enticing property in order to attract potential long-term tenants (people) and, subsequently, maintain a positive perception of the property to ensure success.

But there are three additional concepts that lead to a successful and profitable rental arrangement: Persistence, Patience, and Payoff.

1. Persistence. Finding that perfect single-family dwelling can be challenging. Landlords search for well-maintained properties in prime locations that can be easily converted onto the rental market. Even if one is converting an existing property to a rental, there is a high degree of persistence in getting the property into an attractive and desirable rental property.

Another form of persistence is in finding tenants that can provide financial surety to a landlord or property manager’s investment. Subsequently, one of the most important steps in the persistent search for a long-term, financially secure tenant is a thorough tenant background check which should include credit check, criminal history and sexual registry reports, evictions, and personal references.

2. Patience.

“The investment opportunity that single-family rentals offer today is more attractive to investors with patient money – those who have an investment horizon of more than three-to-five years and are focused on making their return on monthly rental income rather than property appreciation…” (1)

Patience can involve the near and long-term. When investing in property one must be prepared to wait for the investment to payoff. But patience involves more than the wait for payoff but the wait for the perfect tenant. Landlords and property managers often feel the pressure to keep units filled and earning income, but a single-family dwelling landlord might wait a little longer as there may be more at stake, certainly if it is only a single property in a portfolio.

3. Payoff. Individuals renting out a single-family dwelling can certainly achieve a stable income. By being persistent in creating a clean and desirable home as well as pursuing potential successful tenants, and utilizing patience in the pursuit of those tenants, a landlord can get to the payoff.

Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Renting out a single-family dwelling can be extraordinarily different but there is certainly a payoff assuming one takes the right steps. One step that should never be skipped or shortchanged is a tenant check.”

10News.com (Mar. 02, 15) highlights some of the key elements included in tenant screening:

You don’t want just anyone renting from you. It’s important to take the time to create an application with the basics like full name, employer, salary, any previous rentals and landlords in addition to references. You will also need prospective tenants’ Social Security numbers to conduct a background check and get their authorization to run a credit check. (2)

A tenant check remains an integral part in vetting a potential long-term tenant.

• Persistence in conducting thorough tenant checks
• Patience in not jumping at the first tenant to pass through tenant screening
• Payoff in selecting the most fiscally able individual(s) or family based on interviews and data pulled from a tenant check.

TenantScreeningUSA.com is a third-party tenant screening company that works with landlords and property managers in creating low-cost, thorough tenant screening packages. Persistence and patience are key but the payoff is in having the right information for the right cost in the right amount of time.

Notes:

(1) nreionline.com/single-family-housing/patient-money-enters-single-family-rental-market

(2) 10news.com/financial-fitness/6-tips-for-renting-out-your-home