Archive for category Real Estate

Check Applicant Work History – Lying Is a Sign of the Need for Greed

I’ve found it a must to check applicant work history when reviewing my top candidates for an open position within the company. The bottom line is that the need for greed amongst some applicants is so high that inevitably they’ll fabricate entire sections of resumes in order to try to dupe you into hiring them. They figure (and rightly so honestly) that they don’t have to know everything about the job they’re going for – they just need to know more than you.

So don’t let them know more than you!

When I’m filling a maintenance position I do not go down to the department and study every wrench in the toolbox. I’m not a mechanic and I’m not all that big on grease. On the other hand what I DO know is that if someone was hired to do a mechanic’s job at a manufacturing plant his job title probably would not include the title “Janitor” or “Custodial Engineer”. So I check applicant work history. Many times just the threat of such a background check will make (bad or suspect) applicants simply evaporate.

Some try me anyway but I always catch them. I figure my job is to give the department manager a selection of candidates to choose from that meet the minimum qualifications he or she provided. If that slate of candidates doesn’t fill the position I drop down a rung and see who is left. I NEVER send the fraudulent resumes to the hiring manager. Those get returned with a copy of the results of my check applicant work history search and a canned (but polite) rejection letter. In truth they really don’t deserve it but I’m still representing my company when I write to applicants, so I play nice.

This is especially true in the case of doing executive background checks. I still dislike the liars, but sometimes these same frauds end up in executive positions elsewhere – and believe me once in a position of power those folks willing to lie to get a job can be equally ruthless in keeping it. So I make sure to play nice, even when they don’t.

Read more about checking applicant work history and employment background checks in general:
Executive Background Checks and the Employment History Background Check – Do It, Do It, Do It!
Pre-Employment Criminal Background Check Companies – They’ll Save Your Bacon

, , ,

No Comments updated July 26, 2013

Landlords Who Tenant Screen Always Come Out Ahead

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

, ,

No Comments updated July 26, 2013

Tenant Credit and Background Checks Pay Huge Dividends

If you’re not doing tenant credit and background checks but are in the investment real estate or property management business, why aren’t you?  The most important thing you can do to protect your investment is to properly and thoroughly screen potential tenants before you ever hand over the keys.

Doing a cursory background check to verify the basic information obtained on your application will go a long way toward sorting out who the real candidates are.  Once you have it narrowed down to one or two potential new tenants, then do a full FCRA compliant credit check to be absolutely certain the person you’re renting to is credit worthy.  A rental credit background check is your best defense against bad credit tenants.

, , ,

No Comments updated July 26, 2013