Do you know how to determine if a tenant will be a good or bad one? If the answer is no, it's time to take control of the tenant selection process.
A tenant background check is the best way to ensure your property is in excellent hands. It's a quick and easy way to verify the information on an applicant's application.
It can also help you spot red flags, which could save you time and money in the long run. If you are wondering about the reasons to do a background check on your tenants, this guide is for you.
1. Avoid Getting Scammed
Even if a prospective tenant provides you with a seemingly valid ID, it doesn't mean they are who they say they are. You could still rent your Phoenix area property out to a scam artist who steals everything in sight.
It's important to do a background check on your tenants to ensure they give accurate information. A background check can reveal past addresses, criminal history, and more. This will prevent you from renting to someone who doesn't have good intentions.
2. Protect Your Current Tenants
Keeping your current tenants happy is just as important as finding new ones. You, or your property management company, don't want to lose great tenants because they are tired of dealing with problem neighbors.
A background check can reveal certain things that make a tenant unsuitable to rent your property, such as theft or violence. In this way, it protects your current tenants and helps them feel safe in their homes.
3. Prevent Legal Issues
Running a background check on Phoenix area tenants can give you liability protection from legal issues that may arise. If the potential tenant has a sketchy employment history or a history of lawsuits, you need to know. You do not want to risk legal issues if you can help it.
A quick look into a potential tenant's background can help you avoid such problems. This can help you avert legal issues and save you a lot of time and money spent in court.
4. Find Applicants With the Most Potential
By eliminating those who are not qualified, you will have a higher chance of finding someone who is. You can find someone who has a stable job, excellent credit history, and strong references.
You want to find the best candidate for the rental unit and you can weed out those who will not be a good fit. The more qualified an applicant is, the better they will be as a tenant.
Tenant Background Check: Find the Best Residents for Your Properties
A tenant background check is a great way to find out if someone is qualified to rent your home. You can find out if they have complaints, unpaid debts, and more. This helps ensure you are renting your property to someone who will be responsible and stable.
PMI Real Estate Services is part of a larger franchise that's been helping property owners like you for over 20 years. If you're looking for a way to find the best tenants for your rental property, contact us today!