It goes without saying that most landlords rarely run a background check on their tenants before letting them reside in their property. A few factors may have contributed to this type of hesitancy from Landlords. One major factor being the recent Legislation attacking the need for a tenant screening.
Yet, protecting our property and those in it remains to a vital factor. One can only do this by ensuring that tenant screening is a vital part of your leasing process. Of course, you need to ensure that you are operating within the Fair Housing Guidelines.
For the purposes of this article, we shall be focusing on the importance of tenant screening. However, let us first start by defining what tenant screening is.
Tenant Screening Defined
Tenant screening often involves checking a number of documents such as eviction records, criminal records, rental history and tenant credit checks among others. This way, a landlord, a real estate agent and property managers can be knowledgeable about the type of tenant they are letting into their property.
Please note, that tenant screening is a service provided by Consumer Reporting Agencies (CRA). These agencies that provide such services usually perform a background check on the tenant in question. From the tenant screening process that they perform, they can unearth information such as criminal history, bankruptcies, eviction history, eviction checks, judgements and so forth. This is what is known as the tenant screening report.
This information, as a tenant can help guide you in making an informed decision. However, before hiring a Consumer Reporting Agency (CRA), it is imperative that you do your research first. Ensure that you hire a reputable and reliable company. Ask around for any recommendations from friends and family.
Now, let us take a look at why you ought to hire tenant screening services.
As a landlord and realtor, you naturally want to protect your investments. Knowing how much it cost, you want to sustain and maintain the investment in its pristine state. Moreover, owning property allows you to garner profit as well.
A tenant screening test allows you to protect what you value. The company should be able to find criminal records or any property offenses the tenant may have been involved in. This way, you can simply turn the applicant down. It’s not worth the damage and liability that the potential tenant may cause in the long run.
Protects Your Tenants
One thing that makes a business thrive is good customer care and relationship. In a business, you need to ensure that you are providing value for value. Otherwise, your business is likely to fail and experience huge amounts of losses.
Tenant screening allows you to run a much-needed background check on your applicants. This way, you can ensure the tenant you are allowing in your property is safe for the other tenants as well. Providing protection and quality security services to your tenants is one way of providing value.
Safeguard Your Reputation
Nothing can damage a company’s growth and status as a bad reputation. If by chance you let a criminal or a drug user into your property, it might cause a lot of damage. The new tenant might cause havoc in your community, or even start giving out drugs to people.
This could potentially ruin the healthy environment that you’ve worked so hard to establish. It could encourage an outburst of unhealthy habits in the community, or cause tenants to leave.
If by chance, you end up having to deal with a tenant like that, you have the right to issue an eviction notice.
To Protect You As The Landlord
Tenant screening not only allows you to protect your property and your tenants, it also allows you to protect yourself. The main objective of owning a property is earning a profit. You can only earn a profit when and if your tenants pay their rent as per requirement.
However, there have been cases in which tenants have failed to pay their rent for months. This may end up affecting you financially, creating a liability for your business. Hence, the reason the tenant scanning services always check eviction history. This will let you know whether or not your new applicant has ever been issued with an eviction check.
If the applicant has an eviction history, it is best that you turn the applicant down.
From the above-mentioned facts, it is obvious that tenant screening services are imperative, They help you safeguard the property you’ve invested so much money and time in. Moreover, such services allow you as the Landlord to protect the tenants that you value. Such information allows you to protect yourself from plunging into financial crisis or debt.
Wise decisions often help steer and guide a business toward clear waters. The information provided by tenant screening services will provide you with enough information to guide towards making an informed decision. The tenant screening report will help you find out every single detail the applicant may have not highlighted in his application.
In conclusion, tenant screening services is never a bad idea. However, ensure that you have a reputable and reliable company do this for you. This way, you can be assured that the information they provide you is credible and trustworthy. Moreover, reputable companies and services tend to work and operate within the Fair Housing Guidelines.
Here at Secure Background check, we can help you safeguard your property by providing a reliable tenant screening report. Let us do the work for you.