WARNING: CHECK YOUR TENANT’S CREDIT REPORT, CRIMINAL HISTORY AND BACKGROUND – HERE’S WHAT YOU NEED TO KNOW

WARNING:  CHECK YOUR TENANT’S CREDIT REPORT, CRIMINAL HISTORY AND BACKGROUND – HERE’S WHAT YOU NEED TO KNOW

A bad tenant is like a mother-in-law who just won’t leave – only worse!  Evictions are a slow, painful process, and the damage may be done before you can undo your bad decision.

 Don’t hand over those keys until you have checked:

A Credit Report is not the only way to judge a tenant, but it does show, at a minimum, the applicant’s ability and willingness to commit to financial obligations.

Eviction History shows you what a current landlord reference might not – especially if they are eager to unload their problem tenant on you.

Criminal Background Checks protect you, your other tenants, and neighboring property owners.  Nothing lowers your property’s rental appeal faster than giving the keys to a known at-risk tenant.

Avoiding Identity Fraud is a huge challenge today.  Verify the information on the application – check employment and banking references, talk to the current landlord.

Go with your gut!  Look for signs your applicant isn’t on the up-and-up:

• Wants to pay in cash
• Is in a hurry to move in
• Doesn’t provide documents
• Fails to complete sections of the application

Sign up now for tenant screening services – credit checks, criminal background checks, eviction history.  Join American Apartment Owners Association today for deals on tenant screening, bad rent collection, legal forms and directories, and so much more!

What advice to you have for screening applicants?  Share your stories with other landlords here.

Posted by Jeff on 09.24.2007. 2 Comments »

Filed under: AAOA Forum, Credit Screening