Conduct your own online research on prospective tenants/tenants
In both commercial and residential leases, there is always a risk of loss of income if a tenant breaks a lease and vacates suddenly, or because of time spent completing extensive repairs during which the property is unrentable. These are nightmare risk scenarios that can be minimized by conducting background checks before renting an apartment, condo, home, or commercial space to a prospective tenant.
The steps presented here will drastically reduce the risks you face at a later stage, be it eviction of tenants or expensive repairs. You can perform a Tenant Background Check online right now, simply by searching our extensive network of Public Records and Property Databases.
(see chart below).
You’ll get high-quality search results for your potential tenants in a matter of minutes.
Implementing a tenant screening process will minimize future issues with your tenant.
By checking a potential tenant’s background and thereby profiling your prospective tenant, the risks of experiencing the above mentioned scenarios become much lower.
The first contact with a potential tenant is very often made by phone, especially if the property to be rented has been advertised in a local newspaper. This is the right time for the property owner (or manager) to start asking the right questions about the qualification process.
Commercial or residential tenants should be questioned about the following topics:
- Prospective tenant name
- Telephone contact
- Date the prospective tenant wishes to occupy the property
- Does the prospective tenant have references from previous landlords?
The landlord (or manager) should also inform the prospective tenant of the monthly rent, security deposit, or other charges in advance (if applicable), as this will often eliminate the need for further assessment if the person is unable to pay. the rent being paid. aforementioned.
If both parties are satisfied with the initial phone interview, the prospective tenant will probably like to come and view the property. This also gives the owner/manager the opportunity to meet the prospective tenant in person.
The rental application form must include the following information:
- Applicant’s full name, social security number, date of birth, and current address
- Addresses of the applicant for the last 10 years.
- Names of owners for the last 10 years (if rented during that period)
- Applicant’s business/professional licenses (No required for rentals of residential spaces)
- Applicant’s current job and annual salary
- Applicant job description or business occupation
- Applicant’s previous employment within the last 5 years
- The applicant’s highest level of academic education
- Credit references and bankruptcy issues
- Misdemeanor or felony records for prospective tenants
- Full names of all occupants/co-tenants
- Two personal references, with complete addresses and telephone numbers
- Next of kin, i.e., name of a relative who does not live with the tenant, with full address and phone number
- Driver’s license number and state of issue
- License plate number and vehicle
All information provided by the prospective tenant must be confirmed by using the people lookup in the database.
Previous owners and personal references are very important sources of information about the prospective tenant and their past relationship with personal property. You can ask them how long they have known the applicant and whether they consider them trustworthy, their relationship with the neighbors, any noise they (or pets) have made that disturb the neighbors, and whether the rental property was left in good repair, in the recent past.
If the applicant is self-employed or owns a business, they should request copies of the latest business bank statement and prior year’s tax returns. Then you can also run a business background check to confirm the potential tenant’s creditworthiness.
The signed application must include a Release of Information Statement, which will allow you to do background checks on the tenant to determine if they have answered all questions truthfully.
This final verification is essential to determine the general characteristics of a potential tenant. In addition, a comprehensive background check will also determine your financial stability.
If a decision is made to deny the rental, your request, along with the information collected through the assessment, must be disclosed to the prospective tenant as the reason for the denial.
When searching the various databases, keep in mind that previous addresses, landlords, and roommates are often revealed in your Tenant Background Check search.