Conducting Background Checks
The key to finding responsible and reliable long-term residents begins at the outset. Having a thorough screening process will help you reduce the likelihood of potential short-term renters as well as avoiding long-term headaches. Real Property Management Investment Solutions can help guide you through screenings to find the best fit for your property while also keeping in mind discrimination and other laws you must adhere to.
Rental Application Form
The first step towards getting your preferred candidate is the rental application form which can either be created on your own or utilize an application that asks the necessary information you need to best evaluate future residents. Whichever option you choose, take care to include questions about financial means, employment, and past residence information. Beyond asking them to provide their own information, be sure that they fill out the proper release forms to authorize background, criminal, and credit checks. When reviewing their documentation you should look for patterns of turnover of employment or frequent moves. Also, any areas left blank on the form could be a red flag for information the resident is trying to hide. Give them the benefit of the doubt and ask if they had left it intentionally blank or if it might have perhaps been an oversight.
Contact all references listed. The application should request references from previous landlords, employers, as well as character references. Real Property Management Investment Solutions looks for gaps in landlord history that might raise suspicions or not being provided with contact information for landlords at all. In addition to asking previous landlords if a resident has timely paid rent, additional questioning can offer insight into what renting to that resident might actually play out as. In speaking with previous landlords, ask questions like: Was the property damaged at any time? Was the security deposit collected? Were there any conflicts with neighbors? Would they rent to them again? All these questions help Real Property Management Investment Solutions avoid risky renters.
Criminal Background Checks
While credit checks are vital to assessing a potential resident’s ability to pay rent, credit checks do not tell you about a person’s criminal background. While you are seeking to run a profitable business, you must also take into consideration that it is your responsibility to ensure the safety of the community by performing due diligence of legal investigation. As it’s difficult for law offenders to become homeowners, the likelihood that an eventual applicant will be a repeat criminal offenders is fairly high. In the past, criminal checks took weeks to process but now you can get the results immediately making them convenient and well worth the effort. Other registered lists such as terrorist watch lists and sex offender lists may also be checked.
If you are interested in having your property managed by Real Property Management Investment Solutions, have more questions, or just want to speak to one of our team members, then contact us online or call us directly at 616-419-8880 today!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.