Tenant background checks can be an enormous task and is not always the easiest task to complete. First and foremost, a tenant check takes time. Diligent landlords need to check all facts and verify all data. This includes running the appropriate tenant screening reports drawn from public databases or county courthouses. And then the landlord must complete verification of references.
Time, time, and more time.
It is critical to pick a good tenant and for good reason.
A tenant must have the capacity to fulfill the financial agreement entered upon. Further, a tenant must also have the ability to maintain a property and not cause grievous damage to property as well as to other tenants. One bad tenant can ruin pre-existing long-term financially successful relationships of other tenants.
Certainly a significant portion of landlords and property managers conduct tenant checks. These reports are used as tools to confirm income, criminal history, and related. However, the thoroughness and completeness of these vetting tools is open to debate.
Consider the following:
If a tenant is particularly bad, or a landlord is in a hurry, it’s likely they might not tell you the complete truth on the phone. This is particularly true for if the tenant is currently in situ and hasn’t been fantastic – they might want to move them on as quickly as possible. http://www.propertyobserver.com.au/news/five-things-you-need-to-know-about-tenant-background-checks/2014022568035
Yikes! What is a landlord or property manager vetting new tenants to do?
Compounding the situation is the desire to keep a property occupied. An unoccupied property makes no income and making an income on a rental property is the eventual point.
The urge to rent to the first warm body that comes along can be overwhelming, especially if a property lay empty for an extended period of time, but that snap decision may cause more harm, and more cost, than one might expect.
In this economy, the draw to rent an unoccupied residence can be especially alluring. The added rental income, alone, is nothing to sneeze at nor is the peace of mind provided by having an empty home inhabited. Taking both benefits into account, it is easy to understand why overlooking the downside of renting a single family dwelling happens on more than one occasion. Unfortunately, it also explains why so many novice landlords become ensnared in rental nightmares that end up costing them — in blood, time and money — much more than these unfortunate folks could have ever anticipated in the onset. http://www.huffingtonpost.com/laura-wellington-/the-wolf-at-your-door-wha_b_4849425.html
Adam Almeida, President and CEO of TenantScreeningUSA.com, suggests a potential solution for new landlords or property managers for properties of any size.
“Working with a third-party tenant background screening company is the answer for new managers, new landlords, and property managers overwhelmed with the complexities of tenant screening.”
Almeida continues: “A third-party screener stays current with laws governing tenant screening and can provide all the reports a landlord might require to make an informed decision. But the most important reason might be a third-party understands the nuance of personal information, specifically the ability to understand a reliable reference versus something less reliable.”
Make a hard task easier and contact a third-party tenant screening company today to resolve specific needs in vetting potential rental candidates.
TenantScreeningUSA.com is a third-party tenant screening company well versed in the nuance of tenant screening. Not only can they make a hard task simple TenantScreeningUSA.com can provide fast, reliable, and thorough results in a timely manner and at a cost-point any new or existing landlord or property manager can afford.
