We usually look at Background screening or checking as a tool only used by big companies or organization. Most small businesses, property managers or landlords would somehow see it as unnecessary and may cost them too much extra time. As someone who owns either a small or big property, tenant screening is really important. Usually what possible tenants do is provide a full month’s deposit and adds up an advance to reflect that they are good and on-time payers. They would also proudly showcase their credit history proving they have no pending bank debts. Without a thorough background screening, you wouldn’t be able to determine if the tenant who paid the advance deposit are really on-time payers. Property landlords should also know that credit history does not provide the rental history, thus they can be good credit card payers but not as tenants. Tenant screening and background checks are vital to a good tenant community and the landlord business.
Minimizing Income Loss
As someone who owns a business either big or a small property, of course you would not want to spend a day or two in court filing a non-collectable debt not to mention the money you would have to pay just to chase your tenant who was not able to pay rent. With Background screening, you would be able to check the credit and rental history of the tenant before signing him a lease. Not only that, it will also help a landlord or owner not to spend money on eviction process and repairing willful damages
Reduce Risk of Fraud
Effective tenant screening is imperative to ensure the property manager, landlord or owner are fully safeguarded against potential fraud.
Reduce Risk of Harm
Think about this: Would like it if someone who is renting your space has a record of Physical abuse, theft, or the likes? Would you risk it? Would you risk your own family’s safety? With proper screening, it will give you a thorough background check of your tenant’s previous and past work and personal activities. This will help you assess if you can manage or work wit is attitude or personality.
Avoid Insurance Liabilities
We are living in a world where there are a lot forgery happening around. Forging an insurance certificate is far too easy. Background Tenant screening would help you collect, verify and manage your tenant’s submitted insurance coverage thus you can avoid insurance liabilities or non-existent insurance coverage issues.
Impact to the Community
If a thorough tenant screening has been made, you would be able to get to know your tenants more; if he/she has a criminal record or financial issues that would give a bad impact to your neighborhood or on the other hand, if he/she would have a good impact or a better addition to your community specially if you are living in an area where there are lots of adult and kids activities and organizations.
A win-win situation
Through screening, it will help you avoid the embarrassment of leasing your property to someone who is not financially sound or with a criminal background. You would be able to assess if the tenant fits the profile you would want renting your place. A happy landlord mean a happy tenant and a good business relationship.