Facts About Tenant Screening

As the owner of high demand expensive rental property, you are required to maintain high standards and cannot afford to rent out to any Tom, Dick or Harry walking off the street. To keep the rest of your tenants happy, a landlord must screen prospective tenants thoroughly, getting extensive background checks carried out, before getting them to sign on the dotted line.

If you are still not convinced it is necessary to vet and screen tenants, then the following tenant screening and employment screening facts should drill home the point about how essential they are, not only to protect business interests, but your property, as well.

Facts on Tenant Screening

1. Legal costs for evicting one bad tenant are rising every day and can amount to $4,000 or more.
2. Thousands of landlords have been compelled to go to court, either to evict a tenant or get back unpaid rent.
3. On an average, landlords or property mangers lose 3 to 6-months in unpaid rent, while they are legally trying to evict a bad tenant or trying to fill the vacancy.
4. It is, rather unfortunate, but it seems the legal system is favouring tenants, even if they are bad ones.
5. However, in most states landlords can charge a prospective tenant an application fee to cover screening costs.
6. What a landlord should also know is that none of the major credit bureaus will provide complete tenant payment histories on credit reports issued.
7. Again, eviction records or filings are not to be found on credit reports. If you ask the courts to send civil judgements, it will be many months down the line before you receive them, too late for your purposes.

If nothing has, the above should convince you completely on the benefits of tenant screening and background checks, a very important aspect of the rental business. By vetting each potential tenant thoroughly, a landlord reduces his / her rental income loss, risk liability and, most importantly, assures himself / herself peace of mind!

To avoid any mishaps or unwanted tenants, visit www.e-renter.com for help with tenant screening and background checks, the best and only way to prevent expensive litigation or penalty charges later on.