A tenant background check tells you a lot about a person. It reveals important factors, such as credit. It also tells you a person's criminal history.
You might be surprised to learn that nearly one in three people have criminal records. Of course, you'll discover this if you start running tenant background checks.
Running these are important for protecting your rental properties. But there are different types.
Keep reading to learn the different types you can perform.
Credit Check
There is one rule of thumb to know: Good tenants often have good credit scores. A credit score reveals how well a person manages their money and credit.
You'll discover a person's credit score when you run a credit background check. People with high scores will likely pay their rent on time. These individuals work hard to have good credit and want to keep it.
One of the best ways to protect credit is by paying bills on time. Therefore, you might look for tenants with high credit for apartments or vacation rentals.
Another thing to consider is that people with great credit might be able to afford to pay more for the rentals. Keep this in mind as you price vacation rentals and apartments.
Employment Background
You can also perform an employment history check. A person's job reveals several things about them.
For example, it tells you how consistent they are with their jobs. It also helps you determine if they can afford the rent. Finally, it verifies they have a job.
Public Record Check
Public records include things such as:
- Real estate records
- Bankruptcy filings
- Immigration records
- Driving records
Learning these things can help you choose the best tenants.
Criminal Record Check
Most landlords view background and criminal checks synonymously. Every criminal background check is a background check. But not every background check contains a person's criminal history.
Checking a person's criminal record is vital. However, check your local landlord-tenant laws before denying a rental to someone with a criminal record. There are laws pertaining to how to handle this event.
Of course, you'll want to protect other tenants when choosing tenants for your rentals. This includes renting apartments or vacation rentals.
By avoiding people with criminal records, you might improve your vacation rental experience for those who rent from you.
Previous Landlord Check
One additional background check you can perform is a previous landlord check. This background check tells you who the person rented from in the past.
It can reveal previous landlord names. It also tells you the dates of when they rented from the listed landlords.
Get Assistance With a Tenant Background Check
Running a tenant background check helps you screen every applicant. The purpose is to find higher-quality tenants for every rental property you manage.
Do you need help running these?
PMI Vegas Properties can help. Our firm specializes in great communication, integrity, and excellence. We're experts in running background checks and other property management services.
Ready to learn more? Call us today to speak to a real estate expert.
