Criminal and eviction checks on your tenants.
Sometimes a landlord needs to screen potential tenants who happen to be foreign nationals. However, it makes a difference whether the applicant is an individual or a business.
If you are listing a rental property and want to move through the process quickly, one thing you shouldn’t take off of your list is background screenings for new tenants. While this might seem like a hassle and is an extra expense, this can actually save you money in the long run.
As a landlord, it is only natural for you to want to know more about an applicant before deciding to rent your property to that person.
Requirements for landlord’s running credit reports on prospective tenants continue to evolve. Credentialing is now required for all end users (landlords).
While the rental market may be stronger than ever, it is still important for landlords to exercise caution. Many people have been hurt by the economy and their credit scores have suffered the consequences.
Collecting rents is an important function as a landlord, but that process does not begin on the due date. It actually begins on the day that your tenant completes a rental application.