45% of landlords manage their own properties. When managing a property, filling vacancies is one of the most important tasks to ensure you're receiving a steady income on your investment. Choosing the wrong tenants, however, can also be detrimental.
If you want a way to help you narrow down prospective tenants, don't skip the tenant criminal background checks. Keep reading to learn why it's an important step for every landlord.
1. Confirm Tenant's Information
Running a background check on potential tenants is one of the best ways to verify that information they gave you is true. Sometimes someone might omit information from their application to appear more favorable to the landlord.
Things that might be omitted or changed in an application that shows up in a background check are previous evictions, employment history, or criminal history.
2. Safety Precaution
A criminal background check is a safety precaution that protects both you and your tenants. Your tenants trust you to provide as safe of an environment as possible for them to live.
If unchecked tenants were to commit a crime on your property, you could be held responsible and sued for negligence. While you cannot discriminate based on race, gender, or nationality, it is your right to deny a tenant with a criminal history that might endanger your other tenants. This does not apply to every conviction, but violent crimes and serious drug offenses may qualify.
3. Attract Better Applicants
Performing a thorough tenant screening on your applicants is one of the most effective ways to find tenants that meet your criteria and are a good fit for your rental. When you have an involved application process, those serious about renting with you will see it through.
By weeding out those who aren't a good fit, you reduce the risk of high tenant turnover, disruptive tenants, or rent not being paid on time.
4. Protect Your Property
A tenant background check is another precaution to protect your property from damages or criminal activity. By viewing a detailed history of your prospective tenant, you'll be able to identify their previous rental history and any past problems they may have posed to previous landlords.
Tenants without a good history of taking care of properties can leave you with hefty cleaning bills or repairs.
Interested in future help with your property? Learn more about property management.
5. Reduce the Risk of Eviction
The eviction process is expensive and time-consuming for landlords. When a tenant cannot pay for their rent, it's unlikely you'll ever receive back pay from them.
By running a background check, you confirm that they have stable employment and income to pay their rent. You can also explore their rental history to identify any past evictions and determine whether they have a history of paying rent on time.
Don't Skip Your Tenant Criminal Background Check
The tenant criminal background check is a vital step for any landlord looking for tenants. Rental properties are a big investment that takes time and care to maintain.
If you're interested in discovering more resources to maintain your property investments, check out our owner's resources and get a free rental analysis.
