rental questions

I am renting the ground floor unit of my building for the first time in 5 years.  Realize that things have changed.  Can anyone please recommend the best way to do a credit check and is there anything else I should be thinking of when I consider prospective tenants.Thanks

southsloper

in Real Estate - Rentals 13 years and 10 months ago

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Crownlfc | 13 years and 10 months ago

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I can’t think of anything that have changed the past 5 years with regards to background checks. You may want to check for crimminal and housing court as well.

landlord | 13 years and 10 months ago

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To pull reports you have to use an external company and get approved for handling sensitive personal data. I recently switched to a new company (Kroll Factual Data) so i just went trough the setup process. It involves authenticating you, prove the ownership of the buildings and undergo a site inspection of the actual space from where you will be pulling the reports and keeping the paper files (in your case, this is probably your home office).All in all, it’s not too complicated, but it takes time and usually you might get charged for the site inspection. A paper shredder and and file cabinet with a lock must be present in the “office”. (it doesn’t matter if you plan to do all electronically, the federal rules require locks and paper shredder)I dealt with Dana and she was very responsive and efficient. Contact info below. Dana Nelson, Account Specialist Kroll Factual Data | 5200 Hahns Peak Drive | Loveland, CO 80538 800-929-3400 ext 7612 | Fax: 866-516-3505dnelson@krollfactualdata.com www.krollfactualdata.com

slopegirl | 13 years and 10 months ago

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We used an online service called “Tenant Verification Service” to do background checks on tenants. As I recall it took a bit to get it set up as they wanted to authenticate me first, which makes sense. I remember it being a bit of a pain. Once we had an account set up, it worked fine.Alternatively, if you find a realtor you like, they will take care of all of that for you. And the fee is paid by tenant. We just used Temple Morrow for our last vacancy and place was rented to great tenants and only needed to be shown once. Plus we got $300/month rent increase which I was frankly not expecting given the still weak market. Temple/Morrow handled the landlord reference check, income check (this one is important, you need to make sure that they really can afford the rent), credit check, etc.Temple Morrow Group1214 8th AvenueBrooklyn, NY 11215(718) 233-2619