After months of renovating, you finally have a rent-ready property. Now, all you need is a tenant you can trust to pay their dues on time and treat your property respectfully as if it were theirs.
Achieving those goals begins with a comprehensive tenant background check. Without this, you're more likely to go through an eviction, the rates of which have increased throughout the country. Some cities have even seen a jump of over 50%!
To minimize those risks, consider the following factors during tenant screening.
1. Criminal History
Without criminal background checks, you could make the mistake of renting out to a tenant who has committed a serious crime. The chances of this happening are high in California, where one in five residents have a criminal record.
So, unless your rental property is in Alameda County, where these checks are no longer allowed, please don't skip this step. It can help prevent your property from becoming a site of criminal activities. Most importantly, it can help keep your community and neighborhood safe.
2. Eviction History
Inland Empire landlords can evict tenants who fail to pay their rent on time, damage the property (and choose not to fix it), or break the lease. However, they can only legally do this by filing a case in court, which can cost thousands of dollars.
Evictions don't appear on credit history checks, either.
The good news is that tenant screening services in Inland Empire can help. Part of their process is conducting a thorough national eviction search on prospective tenants.
3. Income
An ideal tenant has enough income to pay their rent, even if they face sudden expenses, such as medical emergencies. You may have trouble getting them to pay their rent if they don't make enough. The likelihood of this is high, especially in California, the second most expensive state to live in the U.S.
4. References From Employers
References can help you verify the employment information applicants provide. They can tell you if an applicant indeed works or worked for the companies they listed on their application.
References can also help you determine a prospective tenant's moral character. For example, you may learn that a previous employer fired them due to their poor work ethic. The latter can indicate a person's lack of concern for deadlines, which can translate to them not paying their rent on time.
5. Landlord References
As with employer references, those from previous landlords can tell you a lot about your prospective tenants' behavior. You want to learn that they always paid rent on time and didn't break any part of the lease. Be wary of applicants whose prior landlords only have negative things to say.
Successfully Conduct a Tenant Background Check
From criminal histories to income and references, these are all vital factors to look for in a tenant background check. Please don't skip any of them, as doing so can raise your risks of renting out to the wrong person.
If you don't have the time to conduct comprehensive tenant checks, PMI Inland Empire can help. Our full-service property management company uses state-of-the-art technology to find clients the best possible tenants.
Schedule your consultation with us today! We'll be happy to discuss how we can help you maximize your Inland Empire property investment.
