You have a property that is going to be vacant in the very near future so saying you need a new tenant as soon as possible would be an understatement. Without a new tenant all of the costs involved in paying for the property falls squarely on your shoulders. But before you make a rash decision on the next occupant who will call your property home you should consider conducting a thorough, reliable background check.
Why perform a background check on potential renters? Obviously you want your property off the rental market as quickly as possible but if you choose a tenant that pays rent late, or not at all, you will be back to square one. Screening your potentials before they sign on the dotted line can save you a major headache in the future.
Additionally, individuals with a less than acceptable background can eventually become an issue for neighbors. As a property owner you fully understand many of those complaints will ultimately fall into your lap. Let’s not forget about your checking account, those tenants who have a checkered past are more likely to damage your property.
Tenants who do not pay rent or break too many rules will force you to make the dreaded eviction decision. No property owner wants the hassle of suffering through time consuming and money draining process of an eviction. Dealing with unruly occupants, who were not screened, will have you wishing you had conducted a time- and money-saving background check.
The first thought that might have crossed your mind: “Sure I understand that backgrounds checks are important but I don’t have time to wait around for a lengthy screening process.” The longer the property remains on the market the more money you lose. No one wants to lose incoming cash flow so when choosing a screening service make sure it is not only effective but also offers a quick turnaround.
That’s why it is paramount to choose a service that not only offers reliable results but provides them in a timely manner.
One last thing before you make that all-important decision. Have a list of criteria that potential tenants must meet that do not fall dangerously close to discrimination. Use the same methods for all of your renters to sidestep any legal ramifications.
