Are You Background Screening Your Tenants?
No matter if you own one small rental property or an entire complex, tenant screening is highly important. Finding out about the background of potential tenants will help you avoid many of the pitfalls of being a landlord.
Here Are Four Benefits of Tenant Screening
- Verify Tenant Income: Verifying potential tenant income will give you the peace of mind knowing they will be able to pay their rent when the time comes. If your tenant has a job, it also means that they are a productive member of society.
- Keep Your Neighborhood Safe: Tenant screenings can help you rule out violent offenders and those who are sexual predators. Keeping your neighborhood safe is part of the job of being a good landlord.
- Limit Your Liability: You are responsible for who you allow to take up residence in your property. If you fail to screen out those who could do other people in the community harm, you just might be held liable. Being sued is a sure way to lose everything you have worked hard for.
- Discourage Fraud: By conducting tenant screenings, you will discourage those who are potentially trying to hide something. When those who commit fraud find out that your run background checks, they will often move on.