Considering Renting Your Property? Have a Tenant Background Check Done First!

BY: HOUSERIE 05/31/2018

You want to make sure you have the best tenant possible for your property, and you can’t just rely on word of mouth. Instead, you need an extensive tenant background check conducted. Here are some good reasons why that’s necessary:

It Keeps You and Your Community Safe

It’s incredibly important to make sure that you know exactly who you will be renting out your property to.  The last thing you want is having neighbors and other tenants at serious risk of harm.

Background checks matter a lot. It helps you answer certain important questions you have about your prospective tenant. You will discover if the person has any record of felony convictions. You also can find out if the person is listed in the sex offender registry.Bad Tenants

Lastly, you also can discover if the person has any other convictions that indicate if they can put the neighborhood at risk. Having confirmed information regarding matters like this is important to give you and your property’s neighborhood peace of mind.

It Discourages Tenants from Trying to Hide Something from You

Your prospective tenant may be nice during the initial interview, but you can never be too sure if they’ve told you everything you need to know. Luckily, telling them you’re conducting a background check can help discourage anyone from being dishonest. If they stop replying to you or they refuse to authorize a background check, think of this as a red flag and discontinue processing their application.

It Verifies Any Application Claims

Having a proper background check done also allows you to verify all information provided by the applicant during the initial screening. This way you are not forced to take the applicant at their word. You would know if there is something that would raise a red flag in their history. It may not be as serious as an arrest but something like a conviction may still matter.

It Reduces Tenant Turnover

Telling prospective tenants that you require a thorough background check lets them know that you have a rigorous tenant screening process. High quality tenants would see this as a premium in your standards and would therefore be more attracted to staying in your property for the long-term or simply continue to renew their lease. In turn, this would save you a good amount of time and money as you don’t have to keep looking for new tenants as frequently.

For all these reasons, be sure to get a background check done on every prospective tenant. Making informed decisions in accepting tenants will save you from a lot of headaches down the road.

Sources:

Renting an apartment? Be prepared for a background check, consumer.ftc.gov

Using Consumer Reports: What Landlords Need to Know, ftc.gov

 
  1. It’s definitely important to run a tenant background check. You want to make sure they have no criminal history and have a good history of paying their rent.

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