Tenant Background Checks

Tenant Screening - 5 Important Things To Do Before Signing Lease Agreements

Being a rental property owner can produce extra or even full-time income and is a way for many people to gain financial independence. In the beginning it can be an overwhelming experience with a house that may sit on the market for months without rental applicants, perhaps because the house is overpriced for the market it is in. Landlords may have issues with tenants being late or even refusing to pay rent or tenants that have damaged the property and is costing the landlord thousands. Costly repairs and tedious eviction proceedings can make a landlord question being in the rental market.

There are some ways to help reduce the risk and avoid these bad experiences associated with renting out property. Below are five things to do ahead of signing a lease agreement that can help prevent these problems.

Landlord & Property Manager Checklist:

1. Include Photographs in your Advertisement of the Rental Property

Taking photographs of the property can be helpful for multiple reasons. Visualization of the available property for rent is essential for online advertising, without photos, people will pass by advertising if they cannot ascertain whether they may like the property before scheduling a home tour. Photographs are also important as a tool to keep track of the condition of the property before the tenant moved in and can be compared to the condition of the home when the tenant moves out. This can be used to determine whether a tenant is entitled to the return of their full security deposit.

2. Determine Fair Market Rental Price

Landlords and property owners often purchase homes that need a little attention and investing money on upgrades and repairs can lead to a desire to charge higher rental prices. Unfortunately, that could place the property out of the market price for the area. It is imperative to do market research and see what other homes in the area are renting for. There are a variety of resources that can be used including online rental websites, local papers, other landlords in the area, realtors or even property management companies.

3. Comprehensive Rental Applications

It is imperative to gather as much information about your prospective tenant as possible so that this information can be used during the tenant screening process. Important information to gather during the application process are:

• Applicant's Full Name

• Birthdate

• SSN / Social Security Number

• Phone Number

• Previous (7 years) and Current Address including landlord's name and contact information

• Current Employer (Company Name, Address, Contact Information, Hire Date and Income)

• Authorization to run credit reports and criminal background checks

• Applicant's Signature

AAA Credit Screening Services has a free, easy to use rental application available that landlords can use, just click on . RENTAL APPLICATION.

Tenant Screening Articles

• 5 Things to do before renting out your house

• Eviction Records

• What to expect from "free" background check sites

• Landlords & Property Managers: Using Credit Reports

• Major Credit Bureaus Removing Tax Liens from Credit Reports

• How far back does a criminal record check go?

• Online Background Checks - Do Online Databases Provide Accurate Information?

• How can a candidate's current or past income be verified if the employer won't release salary information?

• Background Checks & Social Media - Using Court Records & not Search Engines or Social Media.

• Key Differences between In-House and Outsourced Background Checks

• Restore your credit rating

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