Owning rental property gets more fun when you know your tenants well. But it seems like swimming within pile of papers and investing lot of time while screening your tenants.
As an owner, it is your responsibility to know who you are renting your house to. Checking tenant’s background before renting the property can expose problematic issues and save you from evicting a tenant afterwards due to any problem or invest in repairs after they have left.
With proper and detailed information in hand, you can make the rightful decision while choosing an appropriate tenant for your property.
Let us show you some easy and smart tips for screening your tenant before renting the property:
- Ask the person to fill a Rental application form which contains all mandatory information required for a detailed background check of a tenant. One can download an online sample rental application form or get it from any local real estate association.
The rental application will be having questions regarding:
- Applicant’s full name, date of birth, contact information, and driving license number.
- Present and past addresses, residence dates, contact information of present and past landlords.
- Income details, dates of present and past employment, names and contact information of present and past employers.
- Get his credit report which consist information related any credit such as history of loan payments and the credit account status. But you must also keep in mind before checking the report that according to the section 604 Fair Credit Reporting Act (FCRA), landlords need to seek permission from the tenant to perform a credit check. So, you need to fill a credit report authorization form before obtaining your tenant’s credit report.
- Interview the candidate in person and get all his possible information.
During the interview you must ask these questions:
- Why they are shifting?
- Do they have any pets with them?
- Do they smoke or consume alcohol, indoors or outside both?
- Who will be living along with them?
- Contact the past and present employer of the candidate to check that the employment and income details submitted are true or not.
- Contact his/her present and past landlords, so that you can assure that the person is good as a tenant.
- Get the police verification done by downloading the verification form through police department website. Submit the same after filling at your nearest police station with the candidate’s identity proof.
For more tips and property advices contact our real estate experts at multiflats.com – Where stress is divided and your happiness is multiplied!