The best way to earn from your properties is to give it on rent. But, in today’s world, crime is at its best and there are several instances of landlords spending sleepless nights over damage to their properties, unpaid rent and even undergoes harrowing experience to evict tenants. Tenant background search by landlords himself or by any property management company ensure credit worthiness as well as correct identity of tenant with detailed tenant background check report. The bottom line is to have clearer picture about your tenant so that you get your monthly rent and there is no damage to your property on the course of staying.
What are the steps involved in going for Tenant Background Check?
o Get detailed information from your prospective tenant: The first step towards landlord tenant check is to get a tenant application form filled up by the prospective renter including full name, prior residential address, employment record and even social security number. The application form should also include contact numbers, salary information and bank account details. Try to acquire identification proof such a driving license, birth certificate or passport for all the members who would stay. Minimum of two references should accompany the application form to carry out proper tenant background search.
o Assign the job to tenant background check agency: It is always not possible for a landlord to verify the complete information given by the tenant so it is better to engage professionals who are in the field of this particular service by paying up nominal fees. The landlord can recover the fees from potential renters as rental application screening fee.
What are the authentic sources of tenant report?
Mostly the report on tenant background check is based on data from:
o Experian Consumer Credit
o Equifax Locate Services
o International Credit Reference Agencies
o Bankers’ Reference
o Dun & Bradstreet
o Call Credit Consumer Scoring Systems
o RSA High Risk Tenant Repository.
What are the must checks on screening Tenant credit report?
It so happens that it is not possible for everyone to have high credit scores as because on some occasions there might be miss payment. So, it becomes essential to check on certain issues on a tenant report such as prior record on eviction, default on rental payment or any other major delinquencies such as criminal record and job status.
What are the different kinds of Tenant Check reports?
Different agencies provide with different packages of reports tailor made to the requirement of the landlord and charges of the same varies in accordance.
What is the time required in getting a detailed tenant check report?
In most of the tenant credit check agencies, each report is handled by a specified analyst and they aim to deliver a detailed report to its client by the next working day. However, in cases of advanced report there might be an additional day required besides delay by referees if any.