Doing a Background Check on Tenants
Managing a rental property is no easy task, but what makes it even worse is when tenants that you think are going to pay their rent, keep the property in good condition and adhere to their lease decide to do otherwise. This is why it is absolutely essential to do a tenant credit and background check before you allow anyone to move into your rental property.
It is absolutely legal and permissible to check on your potential tenants. Renting any property brings some risks to you as the owner, so you need to mitigate your risk before you rack up large legal bills and bills related to the condition of the property you are renting. To run a check you must have the prospective renters fill out a rental application that clearly states you require their social security number in order to run a tenant credit and background check.
This information will show you many things about the prospective client. First and foremost it will show you their history of payments with their own bills. If you find that they have bad credit history then it shows that they are not reliable in their payments. You will also be able to find out about their criminal records and if they are a liability to other tenants or to you as a landlord. Finally, you can find out if they have had any evictions so you know if they have reliable rental history.
Remember that if you do deny a tenant for any reason, you must inform them by writing, and you may under no circumstances share this information with any third party. By qualifying your prospect renters you can assure yourself that the tenant you are renting to will be on time with their rental payments, take care of your property and respect other tenants that live there.
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