As the days get longer, the nights get shorter, and kids are out of school and thoughts of the summer vacation arise and important decisions will be made. Where to go? What to do? How long should a family get away?
In many parts of the United States families take long-term vacations. In order to save money these families may turn to vacation rental properties.
Long-term vacation rentals offer a great many amenities that a standard hotel may not: A kitchen to prepare meals in, larger living space to spread out, and more bedrooms for the bigger families or those that invite friends along for the getaway. The affordability of a long-term vacation rental often outweighs daily maid service, an on-site pool, or room service.
Every year owners of vacation rental properties work tirelessly to attract long-term vacationers. The profit of a fully booked summer can pay an entire year’s property mortgage or, if the property is wholly owned, create significant profit.
But landlords and property managers must take the same care with long-term vacation rentals as they might with a traditional rental situation. Thorough tenant checks should be standard.
Adam Almeida, President and CEO of TenantScreeningUSA.com states: “It is important for a landlord to treat any landlord-tenant relationship in a similar manner. Even though a rental relationship that lasts only a month or two, and may be paid in full in advance, one should take care to protect property.”
A tenant background check offers three types of protections: Person, Property, and Perception.
Person: This protection is for neighbors or other tenants of a property. Running a criminal history and sexual predator registry can afford a degree of security.
Property: Perhaps the most important protection for a vacation rental, protecting property from loss could be critical to a single unit landlord. Understanding the financial status of a rental could go a long way in protecting property, but a thorough tenant check, one that utilizes public records as well as a complete vetting interview provides a barrier to individuals with nefarious intent.
Perception: Not as important, perhaps, with vacation rentals, but protecting the perception of a given property goes a long way in ensuring the desirability of a property. No one wants to rent a property that has a history of police calls and related challenges.
Almeida adds: “The correct and proper use of public records combined with a thorough tenant vetting interview goes a long way in protecting a property.”
A long-term vacation tenant check may include:
- Consumer Credit Report – Verify financial capability to fulfill a tenant agreement
- Eviction Records – Verify any previous challenges a tenant may have had in a rental agreement
- Criminal History – Provide greater protection for neighbors and other tenants
- Sexual Predator Registry – Additional surety for neighbors and other tenants
Almeida states: “Often time’s individuals with ill intent are stopped cold if they know a landlord conducts a thorough vetting process of all tenants. A tenant screening that utilizes public records and verification.”
In the end a best practice for landlords of long-term vacation rentals is to conduct a thorough tenant check in order to provide protection to their financial investment.
TenantScreeningUSA.com is a third-party tenant screening company available to provide all the data and information a property manager requires in making a sound decision on a potential tenant, both traditional and vacation. With a well-trained and highly dedicated staff, TenantScreeningUSA.com can compile data required to make a well-informed decision.
