RENT Magazine Q4 '21

SIGNING A GREAT TENANT IS MORE THAN JUST LUCK Are you a landlord or property manager who can be confident you are renting to the best tenant available, or do you rely on a combination of minimal information, intuition, and luck?

BASIC CREDIT REPORTS ARE FINE, BUT ARE THEY ENOUGH? Of course, you want to know a prospective tenant’s credit history. It is a good gauge of how conscientious they are about their financial commitments. You’ll learn how much credit they have, if they are approaching their credit limits and if they pay off their debts as agreed. You’ll also see if they have filed for bankruptcy during the last seven years. You’ll also want to know whether they have been evicted in the past. These are certainly details you want to be aware of before you allow someone to move into your property.

When faced with approving a new tenant, many property owners believe they are covered if they only order credit, criminal, and eviction reports. They don’t realize how much additional, vital data is available for making a truly informed decision, one that could prevent renting to a “nightmare” tenant. One that could jeopardize their investment. Isn’t it better to know before you rent to them whether your applicant has been identified as a sex offender or a terrorist? Don’t you want to be assured that they’ve been straightforward about their education, are using their own Social Security number, and are not abusing or selling drugs?

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