Landlord credit/reference check
In the past I have always used brokers to rent out the vacant apartments in my building, but I always felt bad about the hefty (15%) broker’s fee the tenants had to pay. Now that Craigslist has made it so easy, I am renting the apt. on my own. My question–how do other landlords run…
In the past I have always used brokers to rent out the vacant apartments in my building, but I always felt bad about the hefty (15%) broker’s fee the tenants had to pay. Now that Craigslist has made it so easy, I am renting the apt. on my own. My question–how do other landlords run credit checks on prospective tenants? Thanks, in advance, for the advice.
We offer reports so that you can determine nationwide data from every court in all 50 states including all judgments, evictions, liens, bankruptcies, foreclosures, and criminal records. The key to doing a good background check is to ask your prospective tenant to complete a rental application – there is a free rental application available at http://tenantscreeningbackgroundcheck.com and then compare the data that you receive in your tenant background check. A comprehensive tenant screening report will provide you with a complete and detailed address history. A good quality tenant background check will help you eliminate the vast majority of bad tenants.
I think is a big investment when you buy a property. Wich most of tenants dont care. Is very important that when you are deciding who’s is going to be in your apartment to be realy sure of who is going to live there.
I just think If a tenant wont open the door to a stranger why should I give him access to my apartment. Court in New York takes 2 months to take them out of your apartment if you are agresive in court other than that is can go 6 ,7 months to finish the case.
When I am checking for a tenant, I prefer to do all the work my self. Why? Realtors are ready for the commision, after they dont care no more, must of the time.
So the first thing I let the applicants know, that I going to check the housing court Records, Credict check, Landlord referall.
I elliminate a lot of people this way, Working people are 20 Points in my application. Working people are more responsible and they have less time to be messing around in the house.
You can check for company that give this services on people backgrounds, on the internet.
So Landlords i sugest to do your work up front for better results in your investments.
Thanks, ribant4.
Mopar,
If I may jump in and give my 2 cents on your questions to slopefarm
As a LL I like when someone carefully inspects and asks questions about the unit, building, and myself as a landlord/handyman. It means they are making a careful decision and will be satisfyed when they move in. But a prospect who:
Is aggresive
Announces the great ways he is going to modify the apartment
Offers to babysit my kids or wants to be my new BF
Has a “I’m the greatest tenant alive, you are lucky if you get me” attitude
Negotiates the rent or pushes for concessions
Is dinged.
Demand in Brownstone Bklyn is great enough that if you are fairly priced your apt. will rent to a good tenant in a few days.
Never rent to someone who is not here legally, on any type of visa, or with an embassy. If they don’t pay the rent or cause damage you will never collect the debt. Either their money is across a border where you won’t be able to touch it, or diplomnaticly immune. If you think a person representing a foreign gov’t will be sure to pay debts you are very wrong. I have friends who made that mistake.
Ribant
Also, are there liability issues relating to renting to tenants who may be here illegally? Are landlords supposed to check that or is it none of their business?
Slopefarm, interesting post. What do you conclude from the behavior you describe? Is it a positive or a negative if the prospective tenant notices faults, carefully inspects to see if the space works for them, and discusses out loud or whispers?
Sometimes people have no credit because they have only just arrived in the USA. If this is the case, they’ll be able to produce a passport with an I-95 that shows a recent date, it will also indicate the type of visa they have. If the person is here on say a H-1B or an L1 visa, they’re working for a company in a reasonably senior position and the company will probably guarantee the rent. They also may not have received their social security number yet. In my experience, a lot of landlords and rental agents can’t be bothered with these people, which is a real shame because they can be ideal tenants as they’ll pay on time and are less likely to get fired from their jobs.
Slopefarm
I agree with you, the best thing about showing an aprtment yourself is getting a feel for the prospective renter
But in my opinion you are taking an unneccasry risk by not running your own credit reports. There are a lot of scammers out there and I think it is a good idea to cover yourself just in case.
thanks what. for actually giving me slight hope! haha crazytown
-rob