Thursday, November 6, 2014

Guidelines For Tenant Verification - vFacts

Tenant verification ensures a landlord that their tenants are capable of paying rent on time and they are not criminals or troublesome. Tenant Verification plays important and vital role in finding the best tenants for your rental property. Successful Landlords know that tenant verification is the most important task when letting property. Tenant Verification can be either done by landlord himself or he can hire a professional service provider. Today renting a property is one of the important sources of income for landlords and tenant verification ensures that the aspiring tenants are not criminals or troublesome for which the landlord would be answerable for.

Tenant Verification Service

In case you cannot undertake tenant verification process your own, there are many different agencies and services that provide credit checks for landlords. It also offers background and criminal history reports. If you have a large rental complex or a large number of applicants, you may be able to save money by selecting a membership service that offers bulk discounts. Fees or service charges vary as some require only a membership fee, while others charge per report. Tenant verification companies collect pertinent information from credit reports, court records of evictions, bad check reports, state courts, utility companies etc for information about potential tenants.
Tenant Verification is not a difficult task but you need to check references, reason for moving and background before you renting out your property. If you’re a new landlord and are unsure of how to verify potential tenants, there are a few guidelines. Always ask for references, especially from the last place the person lived. Ensure that the aspiring tenants are not criminals or troublesome. It’s also a good idea to know in advance how the tenant will be paying the rent. If the potential tenant has poor credit or is not making enough to afford rent comfortably, you should consider finding a different tenant.
Disclaimer: The article  contains data collected from various sources and the use of same is at readers discretion.

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