Wednesday, November 8, 2017
The Tenant Screening Interview: What to Ask and What Not to
Running credit and criminal background checks, as well as following up on references, can help you determine who could be a responsible renter. But while these checks are essential parts of the tenant screening process, there is another component you should not take for granted: the tenant interview.
When and Why
Landlords should conduct an initial interview the moment they hear from an applicant. They can also pursue further questioning once they’ve met the interested party at a showing.
When you do the interview yourself, you’ll find that preliminary queries can give you a good sense of whether you should let someone continue an application – and, if the applicant makes it to the latter stages of tenant screening, you can recall and use your early impressions to reach a decision. Read more from this article: http://bit.ly/2AoCl2N
Monday, October 30, 2017
Tenant Background Check: Beware of the Five Red Flags That Can Indicate a Bad Tenant
Renting out a property can be a lucrative business, but only if you have good tenants. Every landlord who has been in the industry long enough has one (or sometimes more) nightmare tenant stories to tell. So as not to risk history repeating itself, you better have a very thorough screening process in place. Conducting a comprehensive tenant background check should help you single out the bad tenants. Keep an eye out for these five red flags.
Unsettled Debts
One or two late payments is hardly an indicator that one will be a bad tenant. If you’re feeling generous, you can let that slide but one thing you should never neglect is a problematic debt history. You should think twice about taking in an applicant who has hefty loans, maxed out credit cards and unpaid balances. Look out for serious signs of financial trouble such as bankruptcies, liens, or a history of unpaid rent with a previous landlord. This kind of tenant will most certainly fail to keep up on paying rent. Read more from this article: http://bit.ly/2AgjdnD
Friday, October 27, 2017
The Red Flags You Should Watch Out for Following a Tenant Credit Check
A tenant credit check gives landlords information about a prospective tenant’s borrowing history and indicators of their financial responsibility. Depending on the agency that runs one for you, it will show you a person’s outstanding debt, loan requests, payment patterns, and public records. It could even inform you about other parties that have recently requested credit checks on that person.
The tenant credit check is one of the most significant tools for deciding whom to rent out your property to. But once you get that comprehensive credit history, which details should you focus on? Read more from this article: http://bit.ly/2hYnZiM
Wednesday, October 4, 2017
Got Some Prospective Renters? It's Best to Have Them Go Through Tenant Screening First
Before you even give a prospective tenant any consideration, it's always better to have them undergo rigorous tenant screening first. It goes a long way in making sure you accept the appropriate renter for your property. Here's what the screening process can do for you.
It Gives You All the Information You Need
When you get a tenant screening done on your prospective renter, you can expect to get important background information on this person. This includes the tenant's credit history. A credit history with no late payments, collections and bankruptcies is a good sign and often results in a high credit score for that tenant. A favorable credit history serves as a good indication that this tenant will pay the rent on time. On the other hand, a tenant’s credit history with many late payments and collections should be a warning that there is a high likelihood that this tenant will not pay the rent on time. Read more on this article: http://bit.ly/2fQzdbm
Wednesday, September 13, 2017
Considering a New Tenant for Your Rental Property? You Best Conduct a Tenant Credit Check
Renting out apartments, rooms, houses or other dwellings can be a lucrative business, but only if you accept tenants who are financially capable and willing to pay the rent on time and who will be respectful of your property. Among all screening procedures, a tenant credit check should top your list as the results of such screening will give you a good indication if the prospective tenant will pay their rent on time and has the means to afford the rent.
A credit check includes examination of a person’s identification data, credit history and public records. Such background information should help you make a well-informed decision on whether to accept a prospective tenant or not.
Additionally, credit checks offer a landlord many other advantages related to ensuring the reliability of his or her potential tenants. Read more from this article: http://bit.ly/2g9Xgie
Wednesday, August 30, 2017
Considering a Prospective Tenant for Your Property? Have a Tenant Background Check Done First
When you want to be certain that you’ve got the best tenant possible for your property, you can’t simply rely on your gut instinct. Instead, the more sensible thing to do is to have an extensive tenant background check conducted. Here are some good reasons why that’s necessary:
It Keeps You, and the Entire Community Safe
It’s incredibly important to make sure that you know exactly who you will be renting out your property to. The safety of the community around your property may depend on it. The last thing you want is having someone neighbors and other tenants at serious risk of harm.
Background checks matter a lot. It helps you answer certain important questions you have about your prospective tenant. You get to discover if the person has any record of felony conviction. You also get to find out if the person is listed in the sex offender registry. Read more from this article: http://bit.ly/2g7l2v1
Thursday, August 24, 2017
Why Landlords Should Include a Credit Tenant Check When Screening Applicants
Being a landlord can be tough. You’re expected to be on top of a million things relating to the safety, security, and comfort of your tenants all at the same time. From plumbing and electrical problems, broken steps, regular maintenance and inspections, and making sure that tenants follow the rules, all these things fall within the purview of the landlord’s management tasks.
And then there’s the matter of collecting rent and making sure that everyone pays on time. Sometimes, there will be a tenant who will forget to pay the rent on time, or even worse doesn’t have enough money to pay the rent. This can be a problem for the landlord in the overall scheme of things because the rent money is what will be used for the maintenance and other expenses of the property. This is why it’s crucial for landlords to do a tenant credit check before accepting any applicant. Here are some ways that will show how doing a credit check can benefit your property business. Read more from this blog: http://bit.ly/2vnckTL