In tough economic times more and more families are looking to rental properties as a means to making housing affordable.  And now more than ever there are greater options available to rent.  Single family dwellings, condominiums and apartments are a few rental options available on today’s market.  While selecting the right property to rent can be a significant challenge for a renter, selecting the right renter can be an equal challenge to any landlord or property manager.

There are two key considerations landlords and property managers consider in regards to rental property:  Time and money.

Time is obviously important as empty properties earn no income.  Additionally, an empty property requires upkeep and maintenance and, in some cases, can reduce the value of adjacent units.  Empty rental houses are prime candidates for theft and vandalism.  They can create a significant burden not only to landlords and owners but the community they exist within.  Filling an empty unit is critical.  Returning a unit to a profitable status is a fundamental task of any rental manager.  Money, or cost, is a significant consideration as well.  Keeping costs low is elementary to increasing profits but often the consideration of cost may lead to short cuts in critical components of the rental process.  Most landlords realize that background checks are important but not always essential.  They may run a credit check to ensure a potential tenant can fulfill the obligation of a leasing contract but often that is the only step.

Conducting a background check, or tenant check, need not be an arduous process, or expensive.  Most complete tenant screenings can be fulfilled for around $25.  They are conducted on-line and often provide information within hours on a safe and secure web based portal.

Today’s tenant checks should include the following reports:

• National criminal check – provides information on a criminal past on a national basis.  In most states this information is reportable for the past seven years.
• Credit report with score – provides information on a potential tenant’s fiscal capability.
• National sex offender check – provides information on an individual’s past that may preclude them from living in an environment filled with children and young adults.
• Rental fraud warning – rental fraud is a growing trend in most major metropolitan areas of the United States.
• Detailed rental address history – provides information on the transitory disposition of a potential tenant.
• Leasing recommendation – tells you whether or not you should lease to a potential applicant and under what circumstances such as “accept with a qualified guarantor”

A leasing recommendation takes into account pre-set parameters a leasing agent or landlord sets in place and subsequently makes a recommendation based on the information retrieved through the background screening process.

Vetting a tenant is critical to the success of any rental unit.  Creating a safe environment for new tenants as well as existing tenants can often be achieved through an interview as well as a thorough tenant check.  Renting to the right tenant can reduce exposure to risk as well as potential loss.  Tenant checks conducted online are safe, inexpensive and provide the information any landlord needs to make an informed decision.

Sign up today and get a credit report, credit score, national criminal check, renter fraud warnings and detailed rental address history for only $25!  Go to the following link to create an account today:

https://tsusa.mysmartmove.com/Presentationlayer/Views/CreateAccount.aspx?Role=Undefined

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Property owners can avoid numerous issues that can occur with negligent leasing. Demanding landlords or property management companies conduct tenant screening for all tenants will potentially protect against property damage, theft and violence against others thereby potentially reducing the owner’s risk of financial loss.

As the number of renters in the United States continues to increase the need for reliable tenant screening increases as well. While a credit check will certainly indicate an individual or individual’s ability to be fiscally responsible, a simple background check will go the extra step to provide additional assurances for the rental agency as well as the property owner.

Tenant Screening can consist of several components:
• Credit History – As mentioned, a credit history will show the wherewithal of a renter in their ability to be fiscally viable for the property of inquiry.
• Evictions – Reporting on an individual’s eviction history not only informs on a person’s responsibility to forming a legal contract, but their availability in becoming a long-term asset to a property. The goal of any landlord or property manager is reduced churn in occupancy. The more time a property sits empty the greater the cost.
• Bankruptcies, Liens & Judgments – These reports will reveal any potential “hidden” risk to renting a property.
• County Criminal Records Search – will report any activity in a specific county. A county criminal records check is the most reliable and up-to-date report available.
• National Criminal Search – Crime does not always occur close to home and this report will show activity not only in the state of residence but other states as well.
Essentially, running a background check is a tool to reduce risk and manage potential risk. And risk can come in many forms: Property, Personal, and Environmental. Without managing risk a property owner may open themselves to significant liability.

The advantages of tenant background screening that eliminates negligent leasing are numerous:

• Property is protected. Theft and property destruction can be greatly reduced if not eliminated entirely.
• People are protected. A rental property that has a high turnover can destroy the value of the property.
• Investment is protected. Rental properties should command a level of return that meets the needs and goals of an owner. The opportunity to meet that return on investment is greatly increased through the proper vetting of tenants. Reliable, long-term tenants will allow greater profitability than riskier, more transient renters.

In the end it may come down to the cost of conducting tenant background screening for a property owner. While running a credit check has always been a part of the tenant vetting process and often charged to the potential tenant, running a complete background check may be a new experience and a new cost. But consider the cost of one bad tenant. A bad tenant can drive away long-term tenants, those that pay on time and renew leases year-after-year, as well as destroy property. Additionally, the potential for negligent activity on the part of a bad tenant may ultimately result in a significant cost to the property owner, in the form of law suits or other legal activity.

Take the risk out of leasing a property. Tenant screening checks are fast, affordable and reliable. Contact TenantScreeningUSA.com for more information.

This has been a TenantScreeningUSA.com News Publication – All rights reserved
TenantScreeningUSA.com is “An Information Enterprises Solution”