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Did you know that crimes related to rental scams caused an estimated $350,328,166 in losses for property owners? In a perfect world, we'd be able to trust every new tenant interested in renting.
Sadly, this isn't a perfect world. That's why it's so important to conduct a tenant criminal background check on any potential renters. In this guide, we'll be going over exactly what these background checks are and how to screen them properly.
That way, you can keep your real estate investment safe from potential scammers.
What is a Tenant Criminal Background Check?
A criminal background check is a tool that's typically used by property managers and landlords. This tool is implemented before parties enter a rental agreement together.
Criminal background checks provide these parties with a complete picture of who they're renting to. Typical tenant screening will usually only look at a renter's income, employment, and credit history.
However, criminal backgrounds expand that to include any criminal convictions or evictions from their past. A criminal conviction will not always exclude someone from renting.
This is especially true if it was for a minor crime that was long ago. But certain convictions that can't be explained can raise red flags for property owners. This is especially true if they're related to real estate scams or not paying rent on time.
Why Are They Important?
These types of background checks are important because they help prevent evictions. And, in a day and age when eviction filings are up by 50%, this is especially vital.
Remember that evictions aren't just tough on new tenants. They're expensive and time-consuming for residential property owners as well. Getting involved in one will inevitably cause you to lose money on the deal.
In some cases, background checks can prevent more insidious threats, like renter scams. Remember that it's not just enough to confirm employment. You need to look into their criminal past.
How to Conduct Tenant Screening
Before you begin a tenant background check, you will need to get written consent from your potential tenant. This is especially true if you're looking into their criminal history.
After that, you should pick a tenant screening service. Look for a property management company that offers a comprehensive list of areas.
For example, our background checks not only confirm identification and income but also things like:
- Credit Score
- Previous Address Tenant History
- Public Records SearchNational Eviction Search
- Previous Landlord Verification
- National Criminal Search
- National Sex Offender Search
- International Terrorism Database Search
That way you get a complete picture of the tenant you're letting into your property.
Need Help Choosing Your Tenants? Contact PMI Brewder Realty
Ideally, you now know about the importance of a tenant criminal background check in the Lynnwood, Washington area. Just because tenant screening is vital doesn't mean it needs to be a headache.
This is especially true when you go with a professional like PMI Brewder Realty. We not only check credit but also conduct a thorough background check.
Best of all, we do it quickly and painlessly. So if you're ready for the tenant screening you deserve, contact us today.
