Did you know that more than 36 percent of American households are renters? That's more than a quarter of the population.
So, what does that mean for you as a property owner and landlord? You have a sea of potential at your fingertips when it comes to choosing tenants.
There's just one catch -- not all tenants are good tenants. Here's why you should always run a tenant criminal background check.
Protect Your Assets
Buying your first property is a huge milestone. It's only natural that you'd want to keep it in good condition by renting it out to reliable tenants.
Sure, some wear and tear is completely normal as the years (and tenants) come and go. But the last thing you want is to house a criminal on your property or a tenant that destroys your precious asset.
Tenant screening is the best way to sort the reliable, house-proud tenants that pay rent on time, from the ones that jeopardize your investment.
Make sure you look for tenants that have no previous criminal record or history of property damage, and decent references.
Protect Yourself from Future Liability
Due to the Fair Housing Act, you cannot deny an applicant based on race, sex, age, disability, and more. But when it comes to a criminal background check, you have the right to turn down an applicant.
Conducting a background check is also important to protect yourself from future liability, i.e. should a tenant file a lawsuit against you for any such reason.
In short, conducting tenant screening proves that you took all the necessary steps to protect your property and other tenants as well.
Keep Tenant Turnover to a Minimum
One of the most stressful aspects of being a landlord is finding a tenant that's not only reliable and trustworthy but someone that honors the lease agreement.
The last thing you want as a landlord is tenants coming and going because you failed to do a background check on their tenancy history. Conducting tenant screening means you can learn a bit more about any red flags that are concerning.
As such, you can minimize your tenant turnover and the stress that goes with it.
Keep Your Other Tenants Happy and Safe
If you're a property owner that houses multiple tenants who live in a condominium, for example, tenant screening is even more important.
It's your responsibility as a landlord to ensure all of your tenants are safe and happy while living on your property. Running a background check for every tenant that you accept allows for this.
Not only this, but bad tenants may cause other tenants to become disgruntled. You then run the risk of losing good tenants and that's something you want to avoid at all costs.
Let Us Handle Your Tenant Criminal Background Check
Whether you're new to property ownership or a well-seasoned pro, there's always plenty to think of regarding property maintenance.
If you're looking for expert property management, including professionals who can take care of a tenant criminal background check, you're in the right place!
Learn more about our property management services, here.