An effective tenant background check
In order for property owners or landlords to make informed tenant decisions, proper tenant screening tools are required in order to avoid rental nightmares that will cost you thousands of dollars in rent and property damage. Without proper tenant screening tools, you might as well flip a coin in making your tenant selection.
Make sure every rental application is completed in full, especially previous addresses, employment, and references. Confirm the applicant's identity with a picture ID, preferably a valid drivers license. Pay attention to any discrepancies between the application information and your interview with the applicant.
A fully completed rental application will you give you the data you need to begin your tenant screening process.
With the use of our internet tenant screening service, you can retrieve a tenant credit report within no time. A tenant screen will show you all the credit-trade data, public records, social security verification, previous addresses, death certification, and eviction history.
Take a good look at the report, paying attention to their payment patterns and their credit balances. This will tell you if your applicant is over extended or whether he can afford your rent. Additionally, you may check to see if the tenant credit report data matches the information on the rental application.
Good or Bad Credit
Credit reports allow for you to view a persons financial history by examining their open and closed tradelines, bankruptcy history, fico score, tax liens, etc…A quick scan will let you know whether or not your applicant is reliable and has "good credit" if he or she has made payments on time, has avoided such things as tax liens, judgements, bk's etc… Credit reports also include job information, address information and account dates. You should always choose a tenant who has more positive credit than negative.
An Informed Decision
After you have carefully reviewed your application and your tenant screening information, you will be ready to make an informed decision on your applicant whether or not to do business with them. A tenant screening is vital for landlords and property owners to avoid any risk while managing financial figures in a real estate investment. It's simple, do your homework by running a tenant screening. It's a small price to pay to make sure your applicant will bring no headaches for years to come.