Kitchens by Riland

When you decide to lease your property to a tenant, you are getting into a financial arrangement which calls for honesty and character on the side of the tenant. The tenant you allow into your premise is expected to promptly pay for using the premise while the landlord provides the necessary amenities to make the tenant’s stay comfortable. When getting into an agreement with a tenant, the landlord must take time to understand what kind of person he or she is. Top on the list is the credit past of the potential tenant. Rent is a source of income for landlords. Therefore when you let your premises to a tenant, you want to be sure you will get your monthly earnings without fail. The best way to achieve this is by carrying out a tenant credit check or tenant screening.

The following are the steps that every landlord should use to credit check tenants

a) Potential tenants should fill a rent commitment form. This form must give details of official names, address and reliable contact details like telephone. In addition the form asks for current and former employments as well as details of why one shifted jobs. The tenant must also disclose former landlords and reasons why they moved. These questions seek to establish the character of the potential tenant.

b) A tenant credit check means an extra expense on the side of the landlord. He should therefore consider charging a fee which will be included in the initial rent to cover for this cost. Credit past reports from credit bureaus are not free. Other expenses include contacting former landlords as well as employers.

c) The next step is getting into contact with the potential tenant’s banker and other financial institutions to establish his or her ability to service the rent. Most financial institutions will not disclose the financial status of their clients unless instructed through a written authorization

d) Obtain criminal record reports that involve past convictions and lawsuits on the potential tenant.

Tenant screening services are now being offered online. There are online tenant screening agencies that give these reports for a fee. Online tenant screening is easy as downloading the report does not take a lot of time. Tenant screening can save the landlord many problems in future. Even though it comes at a cost it is very vital in safeguarding your rent property while protecting other tenants also.