Landlord Tenant Screening

If you're a landlord and looking to rent out a space in your building or home, it is crucial to your peace of mind and investment to acquire a tenant screening service. There are many websites that perform basic tenant background checks, and they can provide such information as your potential renter's criminal record, driving record, employment history, and credit score. All of these factors are very important for a landlord to be aware of because you want to ensure you're renting your space to a reliable, trustworthy, and financially stable tenant. At Tenant Background Search, we perform incredibly thorough and detailed screenings of your potential tenants. There are many benefits of acquiring an online report, with these four being the biggest advantages:

1. It Provides The Fastest Results No longer do you need to wait for days or even weeks to receive the results of a tenant screening. With an online report, you can have the results in hand in a matter of minutes. In this busy world, your time is your most precious commodity and that is why choosing an online background check for potential renters is the most convenient way to go.

2. It Is All-Inclusive Online tenant screening reports are very comprehensive and employ the hundreds of official databases online. They comb through the information provided by National Records and the FBI to give you all of the information you need to know. This can include the most wanted list, national terrorist database, and the national sex offender list, as well as any other relevant information. In one easy click of a button, you will have all of this information and more!

3. It Is Easy To Understand An online tenant screening website will provide you with focused, easy to understand information, all in one place. It is also easy to use and won't require any complicated information on your part. All you need is some basic information on your potential renter, and the site will do the rest for you. You will be able to easily locate and read the information that pops up after the search.

4. It Is Trustworthy You can count on the information being provided during a tenant screening to be reliable and accurate. The information being pulled is typically younger than one month old and comes from many online databases. The reports are also 100% FCRA compliant. Information provided by an online background check comes from many different official sources that compile it together and compares records to confirm it is correct. You want to be sure you're renting to a reliable person, and that is why you need the most accurate information.

As a landlord, your rental space is often your largest investment and most valuable asset, and that is why you need to perform an online tenant screening on all of your potential renters. It is the most reliable, accurate, easy to use, and quickest way of determining if they'll make a great tenant and if you should choose to rent to them or not.

This entry was posted on July 8, 2015 at 5:26 PM and has received 6205 views. There are currently 0 comments. Print this entry.

In order to prevent damage to your property or avoid a month's unpaid rent, it is crucial to get a tenant screening done to prevent any such catastrophes. A legal tenant screening report will ensure that you're renting your property to someone who has a clean background, is financially responsible, and who will treat your space respectfully. Read on for the 4 things that should always be included in a tenant screening. 1. Eviction History A tenant that has a history of evictions means that there have been serious problems with previous landlords. They either did not pay their rent on time, did not follow the landlord's rules, or inflicted damage on the property. County and federal databases contain information on evictions, although it can take a lot of time for a property owner to obtain this information on their own. That is why many choose to outsource their background checks to a tenant screening service.

2. Criminal History A tenant screening will be able to tell you whether your potential renter has been convicted of any crimes. Databases from state, federal, and county sources are combined into one convenient report. You will also have access to sex offender lists, court records, prison history, most wanted lists, and more, so that you can make the most educated decision possible. Make sure the screening includes records from the past seven years, so that you can get as much information as possible.

3. Credit History Being able to see the credit history of a potential tenant will be extremely helpful in making a smart decision towards renting out your space. A thorough credit history will give you information about the tenant in regards to financial liens, payment history, accounts in collections, debt to income ratio, FICO credit score, and more. It can be hard to acquire this information on your own or even with a basic credit history report, but a tenant screening report service will help you attain all the necessary information about credit history to make an informed decision.

4. Employment History Most landlords start their tenant screening process with a renter's application. This is a pretty standard format and will ask the tenant for personal references, as well as their rental and employment history. This is an important step because a landlord will need to know that their employment position is in fact legitimate, and that they have a strong financial standing. By reviewing their place and type of employment, you can determine whether they'll be able to realistically afford the rent each month.

Acquiring a tenant screening on a potential renter is critical to your business and well-being as a landlord. You want to make sure you are making the best decision possible and are renting your most valuable asset to a responsible, financially able, and trustworthy person. There are many ways to obtain this necessary information outlined above, but a tenant screening through a professional service is the most accurate, comprehensive, and easiest way to go.

This entry was posted on July 8, 2015 at 5:25 PM and has received 4827 views. There are currently 0 comments. Print this entry.

In becoming a landlord, you capture a tiny slice of the American dream. After all, real estate ownership remains one of the best investments a person can make. Still, this privilege also carries tremendous responsibilities as well. As a property owner, you're responsible for the overall upkeep of your property. One important part of this upkeep is finding the right tenants to occupy your property. You would certainly want to engage in thorough tenant screening: conduct a background check and credit check, obtain reliable references (including from former landlords), and learn about current incomes and overall financial situations of potential tenants. Although you weigh each of these considerations and then carefully select your tenants, there are bound to be times when tenants don't quite live up to the expectations that you've set. Even if you use a tenant screening service, every landlord will invariably face a tenant that doesn't pay rent on time, or at all, each month.

It's incredibly distressing as a landlord when you don't receive a tenant's rent regularly each month. You meticulously set up your lease and property rules based on the understanding that you'll be compensated monthly as agreed upon by you and your tenants. Still, for whatever reason, some tenants miss the rent due date. You might be inclined to let it go if it's a one-time occurrence. But what happens if someone consistently misses the due date month after month? Here are a few ideas on how to get your tenants to pay their rent on time.

1) Early bird discounts:

Your tenants might be more motivated to pay their rent on time if you set up an early bird discount program. Under this program, they'll receive a discount on their rent if they pay early or on time. After all, who doesn't appreciate a good discount?

2) Auto pay:

By having your tenants sign up with an electronic auto pay program for their rent, you know that you'll receive the rent money every month as expected. Plus, it helps those tenants that lose track of dates easily.

3) Prizes:

You can reward those residents who consistently pay their rent on time with prizes. You might hold a community raffle and randomly pick out the name of one of your more conscientious tenants and present them with some type of reward. While these ideas may encourage some tenants to be timely with their rent checks, they may not be sufficient for others. In that case, your lease should clearly spell out the penalties for missing the due date. These penalties generally come in the form of late fees and other miscellaneous charges. Keeping in constant communication with a tardy tenant can sometimes help the situation. You should only consider eviction as a last resort when all other options have failed.

Being a landlord can sometimes feel like riding a roller coaster. Having a tenant that doesn't pay rent on time can make this ride seem even bumpier. Still, with some creativity and tact, you can get even the most troublesome tenant to pay rent by the due date. This will not only make the relationship with your residents better, but it will also help smooth your nerves--and your wallet.

This entry was posted on May 26, 2015 at 7:32 PM and has received 48601 views. There are currently 0 comments. Print this entry.

When looking to fill vacancies at your property, there are a number of factors that need to be considered that impact how much you should charge for rent:

1. Competition The quickest way to get an average range of rent that you will be able to demand is to look at your competition in the local area. Search through the local newspaper's classifieds, on websites like Craigslist, or simply by using a search engine to look for homes to rent or apartments in your town. Once you identify the companies you're competing with, you can analyze their services, prices, and reviews. This shouldn't be the only indicator of what you can price your property at, but you can use this to get a starting point.

2. Demand The current economy can make a big difference in whether or not you'll be able to get tenants to fill vacancies. If there are not many people looking for a place to live, then charging a higher rent will not be feasible. On the other hand, if you are filling up quickly and there are still people looking for a room to rent, then it is a good time to bump up the rates.

3. Location Where your property is located can be of significant value to certain tenants. Being close to certain shops, parks, sources of entertainment, food, and city life can impact the value of your property. As a result, you have the opportunity to charge a little more than distant competitors. However, if you charge too much, a potential tenant may be willing to live further away to save money.

4. Season The seasons and the time of the year can also impact your pricing. Avoid keeping a "fixed" rate as desirability will go up for individuals or families looking to move during certain parts of the year. Even if your apartments are smaller, they can still be of value to anyone that is going through a hard financial time and needs to downsize into a smaller apartment.

5. Desirability The incentives that you or your competitors offer can be the difference between a tenant landing in a vacant home on your property or not. If your competitors are offering better incentives, like free cable or utilities, to their tenants in order to draw them in, then you may not be able to set a higher price for your apartments. An alternative is to keep the rent slightly below average and then offer paid services to your tenants to make up for the lost monthly income.

6. Test the Market The quickest way to see where your prices fall is to test the market yourself. You could begin by putting in an advertisement with a local newspaper or on Craigslist where your pricing is on par with other competitors. If you are filling open spaces quickly, then you may have set your pricing too low. If they are filling up slowly, then you will want to lower your prices instead. While there is no perfect formula to determine the exact rent that you should charge new tenants, the only way you can know is to come to a decision by considering some of the above ideas, testing the market, and readjusting throughout the year based on what works and what doesn't.

This entry was posted on January 28, 2015 at 5:09 PM and has received 4856 views. There are currently 0 comments. Print this entry.

If you have a rental property, you might have asked yourself a question that seems to be hard to answer for others: Should I do it myself or should I hire a property management company? There are a lot of factors to consider before making a decision. Will your income be sufficient to pay for such company while still earning? Do you have the time, knowledge, and interest to handle it yourself? Can you give your tenants the attention they need if you take full responsibility?

Regardless of if you are renting out a single-family home or multiple apartment units, your main goal is to satisfy your tenant while making your investment work for you. But how can you do both if you're also the one who manages it? Your tenant will definitely call you at the most inconvenient times with complaints, emergencies, and repairs. If you have a full-time job, you will likely struggle to get everything done in a timely manner both at work, at home, and at your property. Here at Tenant Background Search, we strongly recommend hiring a property management company to take care of your property and make sure everything is being handled properly. Here are the top four benefits of hiring a property management company instead of handling it alone.

Time is Money

Tim Ferris mentioned in his book The Four Hour Work Week that the new rich do not depend on money alone. Wealth depends on money, time, and mobility. If you are handling the maintenance, rent collections, complaints, etc., then you are working for money and your money or investment is not working for you. If you have a property management company to depend on, you can use that extra time for travel, your family, or other business, while still making a profit.

Assistance with Legal Needs

Property management companies know a lot about federal laws regarding the industry, taxes, and other legal documents and agreements you might need for your property and for your contract with your tenant. Their expertise helps to make sure every detail is in order.

Finding the Right Tenant

You don't need to be a marketing expert to get a tenant. However, finding the right tenant is an important issue to consider. You should always run a background and credit check on a potential tenant. Tenant Background Search can help you discover if he or she has any criminal records nationwide, a good moral character, and a clean renter's history from past addresses. Another important thing is to do a tenant credit check. This can be time consuming and a lot of work to do alone, but assistance from a property management company can make it much easier.

Lower Maintenance and Repair Costs with Wider Network

Your property will definitely need repairs at some point. Proper maintenance, in addition to repairs, is important to satisfy your existing tenants or to attract prospects, as well as to protect your investment property. Property management companies deal with trustworthy, licensed, and insured contractors for these types of services and more, and you will save money due to bulk orders and discounts. They also have a wider network that they can use for contingency plans. This makes the process risk-free for you and for your tenants, all the while saving you money.

This entry was posted on January 7, 2015 at 2:08 PM and has received 5367 views. There are currently 0 comments. Print this entry.

Most landlords suggest renter's insurance to tenants. It's one of those things that everyone "should have," but few people actually do. In fact, only about 35% of renters have insurance, while about 96% of homeowners have it. You may be thinking that as long as you have insurance on your rental properties that you'll be covered should a situation arise. While this may be true sometimes, it really is in your best interest for your tenants to have renter's insurance. Here are some possible situations that could arise where having renter's insurance will be a huge help to you as the landlord.

Theft

If a tenant's property is broken into and they don't have renter's insurance, they will be forced to pay for everything that was stolen or damaged. They may not have the money to pay for both replacement items and rent, so you may not get paid for a while. Or even worse, the tenant could choose to move out and leave the property vacant. In addition, if you didn't provide the security measures that you promised in the lease, the tenant could hold you responsible out of frustration for the situation, and your entire business and income will be severely disrupted.

Fire or Storm Damage

Thankfully, in the case of fire or storm damage, your landlord insurance policy should pay for any repairs that need to be made to the property, and you should be reimbursed for the missed income while repairs are being done. If your tenants have renter's insurance, they will be reimbursed for temporary living costs while they wait for their home to be fixed. If a tenant has renter's insurance, they are more likely to make only temporary arrangements during repairs, and they are more likely to move back into the property once it's fixed. However, if a tenant does not have insurance and cannot afford temporary living arrangements plus replacing damaged items, they are more likely to leave your property before the repairs are complete.

Liability

In the case of one tenant disputing with another due to an injury of some sort, you are likely to become involved in the situation. Renter's insurance provides tenants with personal liability so that legal expenses and possible damages will be covered. While a tenant-tenant dispute may not directly affect you if you avoid involvement, your name or business could become associated with the issue which could hurt your reputation and income.

There are enough possible issues that could arise between landlords and tenants without the added stress of insurance problems. Save yourself the hassle, the stress, and money by simply requiring your tenants to purchase renter's insurance before they even sign a lease. It is truly in their best interest as well as your own, and if you ensure that all of your tenants are covered by insurance, you will breathe more easily should any of the above issues arise.

This entry was posted on October 6, 2014 at 1:02 PM and has received 3981 views. There are currently 0 comments. Print this entry.

There has never been a better time to be a landlord. With so many short sales and foreclosures on the market, there are plenty of great properties to be had at low prices. The first thing you need to do is find a quality investment property that suits your needs and your budget, but you'll need to take a few things into consideration first.

How Many Tenants Do You Want To Manage?

Do you want to be a landlord to just one tenant or do you want to be a landlord to several tenants? If it is just one tenant, you can find a single-family dwelling or a condo to purchase as your investment property. It is commonly known that condos do not appreciate as well as single-family dwellings so this is something you might want to keep in mind. With a condo you also have to pay maintenance fees monthly and you would need to add that to the monthly rental payments to cover the additional expenses. If you want to manage several tenants, you can look for a duplex or a small apartment building. If you have never been a landlord before, it is probably a good idea to start out just having one or two tenants.

Finding the Right Property

Have you heard the phrase, "location, location, location?" This is just as important for rental properties as it is for buying a new home, so thoroughly research the neighborhoods before you buy a rental property. If you wouldn't want to live there, chances are that potential tenants are not going to want to live there either.

Finding the Right Tenants

Finding the right tenants is not always an easy thing to do. You want someone who will take care of your property. You certainly don't expect them to make improvements to your property, but you absolutely don't want them to cause destruction that will bring down the value. How do you go about finding the right tenant that is going to take care of your property? You can start with a background search. There are a few different kinds of searches that can be done so you can determine if these prospective tenants are right for you. Other options include criminal records checks and credit reports. You'll also want to check the sex offender registry and check for bankruptcies, foreclosures, aliases and employment verification.

Once you know how many tenants you can handle and how you will find the best applicants, it's time to look for the investment property that meets your needs. A prepared and educated landlord can see a handsome secondary revenue stream from rental property.

This entry was posted on August 1, 2014 at 6:48 AM and has received 4182 views. There are currently 0 comments. Print this entry.

Watch our YouTube video at: www.youtube.com/watch?v=rEY2TVe28fI

If you like the video, please press the thumbs up button and leave a comment!

This entry was posted on March 11, 2014 at 6:14 PM and has received 4500 views. There are currently 0 comments. Print this entry.

When you rent out your property you want to rent it to someone you can rely on for the duration of the lease. Most of the time all you really have to worry about is whether or not they are going to pay the rent on time or if your property is going to be destroyed while they stay there, but in some cases you may have more than that to worry about and you need to know how to avoid it. Fortunately, there are background check packages available that allow you to assess the entire situation so that you can avoid renting to a dangerous tenant.

Financial Status

It's easy enough for a potential tenant to declare that they have a solid rental history. Technology even makes it easy for them to print fake employment forms and offer you fake addresses to send reference requests to, but credit reports and FICO scores tell the real tale. In some cases, the FICO scores and credit report may not be the greatest, but your potential tenant may have just gone through a rough patch. Look for patterns in the report and talk to your potential tenant about what you found as necessary. You might even consider overlooking things like past medical bills as they don't necessarily apply to how the tenant would handle rent.

Criminal Records

Criminal records can be obtained as part of a tenant background check package and they can be very revealing. You can learn a lot about a person by reviewing their criminal history while still being able to keep in mind that some people had a wild streak when they are younger, but grow out of it as they age. Some things are not even an issue. For example, a tenant who has a list of speeding tickets may be an irresponsible driver, but that doesn't make him or her an irresponsible tenant. Then again, a tenant who has multiple felonies for things like criminal confinement or assault with a deadly weapon are not really the kind of person you want to rent to, no matter how good they are about paying rent. Nothing quite changes the way people see your property as crime scene tape across the door.

Serious Criminal Concerns

There are two specific areas which are going to be cause for concern and are probably the best reason to invest in a complete background check package. One is sexual misconduct and the other deals with the Patriot Act. As a landlord, all you should really have to concern yourself with when it comes to your tenants is when the rent is paid and how your property is treated. However, when it comes to offenses concerning sexual misconduct or the Patriot Act, you don't really want your name involved at all. Yes, there may be instances where your renter is actually the victim, such as sexual misconduct that occurs when the other party lies about their age, but your best bet is to avoid the situation altogether because your name is at stake. When it comes to the Patriot Act, new laws mean that you really don't want your name associated with any violations in this arena because you could eventually become the target for future scrutiny and even if you had the best intentions in mind, you just don't want that kind of attention to affect your reputation. Use background checks to protect yourself and your company from potential issues with problem tenants down the road.

This entry was posted on February 17, 2014 at 5:39 PM and has received 5618 views. There are currently 1 comments. Print this entry.

Everyone wants to avoid the situation in which a tenant finds a loophole in your rental agreement and takes advantage of you or your property. Below are 8 guidelines that were developed by seasoned real estate investors to help make sure you've covered all the bases and are protected against any major liabilities.

1. Always run background checks on new tenants – Tenant Background Search handles tenant credit checks so you can make an informed decision about who has the ability to actually pay you rent each month.

2. Online payments are easiest – Always set up a way for your tenants to pay online, whether it's through your bank or using PayPal. Having easy options to send money make tenants much more likely to pay on time.

3. Move-In Contingency – Define clearly the financial ramifications of a tenant not moving in on the agreed upon date, as well as specific instructions on the move-out process as well.

4. Security Deposit – Make your security deposit a higher amount than the monthly rent so your tenant doesn't try to move out early saying they've already paid you for the remaining time period.

5. Move-In Checklist – Always provide a full checklist of household items and their current condition and ensure that your new tenant agrees with your assessment. Things like; there are doorstops in each of the bedrooms, there are no punctures or holes in any of the drywall and no stains or noticeable marks on any of the floors/carpeting. This will need to be re-visited when the lease ends or the tenant decides to vacate.

6. Building Maintenance – Spell out in very specific terms which party has the responsibility of maintaining the premises. If the tenant is responsible, dictate a list of duties or items that should be attended to and at what frequency. Also include a clause that states that if the tenant is unwilling or unable to continue these duties, you will take over for a specified fee that will be added onto the monthly rent.

7. Visit Your Properties – If you cannot personally check in on your property once every couple of months you should find someone who can do it on your behalf. You don't want any surprises at the end of the lease when you are trying to find new tenants.

8. Decorations – Make specific instructions for what you will and will not tolerate in terms of interior decorating. Any major projects like hanging flat screen televisions or excessively large pictures should be discussed before being undertaken.

By protecting yourself against simple misunderstandings with your current or future tenants, you put yourself in a position to create much more rewarding relationships with your tenants. You need to be diligent when it comes to your property, but a lot of headaches can be avoided by creating very clear and understandable rental guidelines.

This entry was posted on August 26, 2013 at 4:18 PM and has received 4963 views. There are currently 0 comments. Print this entry.