Good tenants, that pay their rent on time and keep your property in good condition, are worth their weight in gold, but finding them can seem like an uphill struggle. To help ensure that you have reliable and honest tenants in your properties, there are a number of checks that can be completed, and PDF Estates’ landlord tenant screening services can be used to conduct these checks and put your mind at rest.
While no check is infallible, completing reference checks, tenant credit screening, and even employer checks can whittle your list of prospective tenants down to lower risk potential tenants. Some of the information used for screening will need to be collected from the tenant, but checks can also be run
Changes to regulations mean that it is not only a good idea, but a legal requirement, to ensure that tenants are who they say they are. Regulations have been introduced to try and cut down on the number of illegal immigrants that live in the country, and you could be asked to produce ID for your tenants. If you can’t show this information, or it can be shown that you didn’t do enough to check, you could face a substantial fine. Ask for a passport, driving licence, or other official ID document and check the details are correct according to the tenancy application form.
Tenant Credit Screening
A tenant with good credit is more likely to make their rent payments on time. A perfect credit history suggests that a person gives priority to their most important bills. Get permission from your tenant and obtain a credit check as part of your tenant screening process.
As well as running a credit check, you should consider an affordability test as part of your tenant credit screening. This determine income and expenditure, and it enables you to determine whether the individual can really afford to pay rent when taking other bills into account. This will need to be done as part of the application process, and you will have to rely on prospective tenants giving you accurate and reliable answers.
A reference from an employer not only proves that a person does have a job, but it can give an insight into that person. Employers are heavily restricted with regards to the information that they can provide, but they can tell you how long a person has been employed and the position that they work in. Combine this with information gathered during the application process, and during any interview, to get a clearer picture of your tenants.
It is commonplace for prospective landlords to ask for and receive references from previous landlords. You can find out how long a person lived at a previous address and even the reason that they left that property.
By running these tenant screening checks, you can build up a picture of a person, determine how reliable they are, and ascertain whether they will be able to afford the rent on your property. The checks should also raise any red flags that might exist, enabling you to ask appropriate questions or move on to the next candidate.
PDF Estates Landlord Tenant Screening Services
PDF Estates offers tenant screening as part of our landlord services . Contact us today and we can check the financial, credit, and employment history of your prospective tenants. Get more reliable and trustworthy tenants for your properties.