by Brenton Hayden
Tenant background checks are critical to ensure you are getting a qualified tenant in your rental property. This is one of the most important steps when it comes to renting. You do not want to be too strict or too lax when it comes to approving tenants but knowing what to look for will make the difference in approving the right tenant. Below are the 5 things to look for on a background check to help you.
Financial capacity: You want to make sure you are selecting a tenant that has a stable source of income. You will also want to make sure they make enough money to reasonable afford the rental property.
Rental history: This refers to your tenant’s record of renting from other landlords or property management companies other than yourself. You may ask for previous landlord contact phone numbers as another way to verify this.
Credit history: This is designed to show if the tenant has a history of meeting his financial obligations in a timely, or if they have a history of failing to pay bills. Credit history needs to be viewed with some discretion because some tenants have missed a bill her and there but may always pay their rent on time and be a great tenant.
Family size: This is an important standard in that it will keep the amount of wear and tear on your rental property. You should always set a limit on the number of persons you will permit in a unit of given size.
Criminal background: This information should be an important part of your background check. Although your background check you run may not provide the most up to date information depending on if a crime occurred in a specific county or state. If someone has a criminal background review what the offense was before automatically declining them.
This article was written by Brenton Hayden and originally published on findpropertymanage