There are warning signs to look for when renting or leasing a Rental Property to a potential tenant. Getting the right tenant will make your rental property profitable and less of a headache. Some problem tenants are good and masking their problems so you can’t always rely on your instincts.
Prospective Tenants Must Fill Out a Rental Application
Make sure to get a completed rental application so you can get all important information in one place. A written code of conduct should be included in the rental application that states what’s expected of you and your tenant so everyone knows where they stand. Enlist the help of an attorney to look a a sample application or create one from scratch.
Identify Your Prospective Tenants – Get Proof
Make sure to look at and check a valid photo identification card from your potential tenants. Take a photo of the ID with your phone and file it with the application. Make sure you can see the Driver’s License number in the photo and that you ask for the Driver’s License number on the application.
Get a Background Check Done
A good background check will look for any preexisting problems that could affect you in the long run. Certain types of Background Checks will show if your potential tenant has a history of skipping rent or destroying property or worse.
Get a Credit Check Done
A credit check will uncover information. Many times renters won’t have great credit but it’s more about getting answers from your tenants about why they have certain problems that matter most. The more info you have the better your decision will be. You will need to get permission in writing as well as Social Security number(s) to perform a credit check.
Get Previous Landlord Information
Get the name and contact information of past landlords and follow up.
Get Character References
Ask for references and check them out. Get a feel for honesty of their references. You will also have these references to check if something goes bad and you can’t contact your tenants.
Meet Prospective Tenants in Person
Meet your prospective tenants in person to get a feeling about their personalities and meeting someone in person helps to build a lasting and trusting relationship.
Don’t Discriminate – Follow the Fair Housing Act (FHA)
The Fair Housing Act ensures that landlords are not denying someone the ability to rent property based on race, religion, etc. Knowing and following the Fair Housing Act can keep you out of hot water down the line if someone makes a claim against you.
Contact us (800-854-3990) for more information!
Background Bureau provides comprehensive background checks, drug tests, and tenant screenings to clients who want to reduce the amount of time, money and paperwork it takes to protect themselves from potential employees, tenants, or partners who have had troubled histories.
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