Why it’s a big secret that landlords who tenant screen are more successful with their properties than landlords who don’t is beyond me.  A quick but thorough review and verification of facts provided on rental applications makes everyone (both landlords and tenants) rest easier at night.  It’s always been my experience that people who wish to live peacefully with their neighbors are usually willing to give up a small amount of their privacy to do so – and don’t mind if I tenant screen – so long as they know everyone else goes through the same process.

I usually present my background check consent form prior to giving out any applications.  If the prospect hands me back a completed and signed consent form, they get to fill out a renter application form.  If they don’t fill out the consent form, no rental application, no exceptions.  There is nothing more disruptive to your peaceful investment property than trying to evict a stubborn, deadbeat tenant – so don’t let them in the door in the first place.  Get the signed consent form, tenant screen them with your renter credit check service, and if they’re no good – don’t rent to them…. even if the bank is screaming at you for money.  Believe me – it’s easier to find a new applicant than to evict a non-payer AND find a new applicant. 

When times are hard and units are empty you have to hold your nerve and keep advertising until a good tenant comes along.  How do you know when you’ve got a decent applicant?  Simple.  Clean credit history (but at least some history), good prior landlord relations (if any), and verified source of stable employment.  Remember… you’re not just checking out the renter at this point.  If he works for a seasonal employer – like construction – you need to ask what he or she does during the off season.

Have some faith, and do your homework.  Tenant screen.  Investigate people who turn in renter applications.  Do not let your guard down, and keep your rates low.  You’ll attract good, stable tenants and keep them a long time.  That… is the secret to running a successful investment property.

Read More on the Tenant Screening Process:
Renter Credit Check – Sample Search Documents from Landlord Tenant Credit Checks
Using A Credit Report Background Check Service – How to Keep It Cheap But Legal
The Tenant Credit and Background Check – What to Ask Your Applicants