Tenant Screening is just as important as buying house insurance. Every house owner has insurance to protect against major loss. It makes good business sense then to obtain a tenant credit check and to conduct a tenant background check that includes calling the current landlord to minimize risk of income loss owing to high risk tenants. When you eliminate the tenant screening process, you are playing the rental income loss odds. When you turn the key over to a tenant whom you know nothing about... you can bank on late rent payments, tenant hassles, damaged rental property and many other frustrating elements that bad renters create. Conducting a thorough tenant background check by having an effective tenant screening process, eliminates risk and makes the renting experience a much more pleasant one. Your tenant background check should include a checklist which can be found in the forms section after log-in. Where your tenant screening process is the same for each applicant, you minimize the risk of being seen as discriminatory.
In many instances landlords and property managers risk much to gain a little. They forego the tenant credit check and the rest of the tenant screening process that includes a tenant background check to save a few dollars. The ten thousand dollar question(s) for any landlord should be, is the applicant credit worthy and tenant worthy? If the answer is unknown then there is a potential for huge income loss.
So if the same principle is applied to tenant screening as it is to buying house insurance, then every applicant needs to have a thorough tenant background check.
Why take a risk? Seriously, why take a risk? Would you hire a babysitter for a child whom you nothing about? Right...then you should know who is getting the key to your rental unit.
The difference between credit worthiness and tenant worthiness? Credit worthiness is self-explanatory. Tenant worthiness includes things such as >determining if rent is paid on time>never having been evicted>not having a criminal record for violent offences, for drug trafficking, for sexual offences etc. etc. the list goes on. Make a list of criteria that you want each applicant to meet, then implement it for each applicant. Remember to have a checklist. So you can point to it and say...this is what I use for every applicant.
ATS has one of the best tenant screening processes in the business. It has deterrent and incentive forms which you will learn more about when you obtain a NO COST membership. ATS is a risk free service with a Satisfaction Guaranteed or Money back policy.