As a landlord, you must check tenant credit in order to ensure that you have the best tenants possible under your current rental situation. Therefore, having a definite and concise understanding of your prospective tenants credit history can assist you in making a logical decision in regards to their suitability to you, but can also help you in the event that things go south.
If your prospective tenant abandons the property without payment, you can always turn to their rental agreement that is on file to locate them quickly. Locating tenants who have vanished can be easily accessed as long as you have the information stored away.
The best time to acquire this information is when a prospective tenant desires to rent something from you like a flat, room or a house; at this point the odds are put in your favor in the event of default.
Here is the information that you need to get before or after you check tenant credit:
- Previous Residences
- Credit score and rating
- Parents residential address( especially for college students)
- Date of Birth
- Employment history and details about current company
This information can assist you in attempting to find someone in the event that they leave without payment.
Here is another list that you should request from them before or after you check tenant credit:
- Bank Statements
- Employer and Personal References
- A signed release to check their credit report
- Bankruptcy Proof
Upon retrieval of these important things when conducting your check tenant credit process, you should purchase a report that will give you confirmation and clarification concerning the information provided.
There are agencies that would attain this information for you in a full report. These reports are called Tenant Check. They usually cost about thirty dollars and will hopefully be hidden away in the file cabinet never to be used again, but if a situation does occur, its value far outweighs its original cost in that it will server you repeatedly.
It is imperative that you follow the first steps very carefully so that you can locate a tenant through tenant check efficiently and without difficulty.
Now, to be fair, most prospective tenants are usually honest and just want a place to live; they are good and timely about rental payments and wish to cause no disturbances to you as their landlord.
However, there are a selective few out there who do not abide by these same principles, so this is your method of stating that you will not tolerate it, period.
Finally, just remember that if you want to go as far as taking it to court and having their wages attached to pay off the balance, you first need to know where they are located before you proceed forward with these actions. By using check Tenant Credit measures, you should be able to do this, effectually.