Owning a vacation rental property can present a wealth of benefits, including the ability to enjoy your own getaway whenever you are ready as well as financial benefits. Even so, there can also be numerous risks associated with owning a vacation rental property, including the potential of renting to criminals. Far too many times, vacation property owners rely on their intuition and trusting that an applicant will tell the truth on a rental application. Unfortunately, this is simply not enough when you are entrusting an investment as large as a vacation home to complete strangers. The reality is that applicants will often lie and cover up the truth. While asking for a hefty deposit is one way to deter guests from damaging your property, even that may not be enough to protect your property. Damages from an irresponsible guest can quickly exceed the amount of the security deposit. Furthermore, more beyond damages, you could also be left facing significant liabilities.
When screening prospective renters for your vacation rental property, it is imperative that you take the time to run not only a background check but also a criminal check. Doing so can help you to understand precisely to whom you are renting while reducing the level of risk that you might incur and protecting your vacation rental property investment. According to data derived from the US Census, the growth rate of renters is increasing at a daily growth rate of 2,654 renters per day. There are now more than 108 million renters in the country and not all of those renters are responsible.
The last thing that you want to have happen is for your property to be trashed by an irresponsible guest or to receive a phone call from the police because a guest has used your property for illegal activity. The potential for renting to criminals is even greater with a vacation rental property than a standard rental because you will oftentimes be renting to out-of-state renters. Without a proper criminal check, you have absolutely no way of knowing what kind of individual might be renting your property.
While both HomeAway.com and AirBNB.com have become popular options for renting vacation properties, the problem with each of these services is that they do not screen applicants for criminal activity. This leaves you and your property vulnerable to numerous types of risks and liabilities. The level of risk that could incur by not properly screening tenants is simply too great to leave up to chance.
A better solution is to ensure that each applicant is screened using VerticalRent's Quick Screen feature. Within just a few minutes, you will have all of the information you need to make an informed leasing decision. You receive a credit report with score, an eviction report, and a criminal report. As a result, you have complete peace of mind in knowing that your vacation rental property is fully protected.
Screening prospective tenants for your vacation rental property is a duty that you owe to yourself as well as your property. It is the only way you can be certain that your renters will be good guests and will not trash your home, disturb your neighbors, or steal items from your property during their stay.