Tenant screening reports can serve as a guide for you to find the right tenant for your property. Comprising a detailed analysis of applicants' credit reports, criminal records, references, and other important criteria, tenant screening reports help you in gaining a good idea about your applicants. Let us see what each criterion in the tenant screening report would mean to you.
Credit Report:
A detailed credit report, generated by database search through secure Websites, are a good indicator of the applicant's finances. A good credit score ensures that the applicant's finances are stable and that they would be able to make rent on time.
Rental References:
To get a better perspective of the applicant's attitude during tenancy, it is wise to enquire their previous landlords. Has the applicant been a good neighbour? Have they maintained their previous property properly? These are some of the questions that need affirmative answers for the applicant to be considered optimal. Any previous evictions are a strict no!
Eviction Records Search:
As stated in the previous section, any evidence of the applicant being evicted previously needs to be taken seriously. The reasons for eviction may vary, right from irregular rental payments to improper maintenance of property, but the very record of eviction must get your alarm ringing. You don't want to be stuck with a tenant with a track record of being unpleasant.
Criminal Records Search:
This is an essential part of the tenant screening process, as it ensures that neither you nor the neighbours of your property need to deal with a tenant with a criminal record. Of course, people change, but a search of criminal records can help you know if the applicant is hiding a dark past from you.
Sex Offender Registry Search:
The importance of this search cannot be ignored, as a tenant who is on the sex offender registry would be objectionable for neighbours, especially families with children.
Employment Verification:
Sometimes, applicants don't state their employment details on the application form truthfully, to stand a better chance of qualifying for renting/leasing your property. A thorough verification with the applicant's employer is vital in knowing if the applicant is in a solid employment bracket. Also, some applicants may overstate their income in the application, so it is prudent to verify it with the employer, along with the applicant's attitude at the workplace and the term of their job; if the applicant is in a trial/notice period or is working on a contract basis, issues may arise in the future with rental payments.
Based on the above criteria, as you can see, a tenant screening report can give you a good idea of the applicants' trustworthiness and character, thereby ensuring that you select the applicant who suitable for your property.