Recently, we have been discussing the importance of using a high-quality online rental application. However, beyond just implementing the use of an online rental application, it is also critical that you screen potential tenants properly. If you are new to the world of landlording, you may have little to no idea about what a tenant screening report should include. Before you hand over the keys to your beautiful property, check out these tips about completing a tenant check and find out exactly what a screening report looks like.
The Importance Of Screening Reports & Tenant Checks
Perhaps you have been renting out your home for years, or perhaps you are brand new to the experience of being a landlord, either way, it is critically important that you screen applicants before you finalize a lease. Screening reports provide you with invaluable information that can help you determine the likelihood that the potential tenant will uphold their end of the lease and rental agreement. Not only do you want someone who will fulfill their commitment, you want someone who is reliable and won’t leave your home trashed and in need of costly repairs. So how exactly does a screening report help you accomplish all of this?
A Snapshot Of Your Tenant’s Life
Although it is, of course, impossible to guarantee that any applicant will turn into the ideal tenant, there are some factors that will help you make the wisest decision possible. When you use a tenant verification service, you will be able to see a snapshot of your tenant’s life, and each item on the screening report should provide you with valuable, insightful information about the applicant.
What is included on a tenant screening report will have a lot to do with what resident screening service you use. As a landlord, you should seek a tenant screening report that includes some critically important information. The following are all included in the tenant screening report, free through TurboTenant.
- A full credit report with a corresponding score from TransUnion
- A history of payment
- Indicators of fraud
- A credit screening recommendation, including accept, conditional, or deny
- A full criminal background check
- A collection history
- Any civil records
For landlords who are interested in even more comprehensive information about a potential tenant, the TurboReport Plus includes everything in the list above, as well as an eviction report. This eviction report will help landlords dive even deeper into the background of a potential tenant by providing the following information:
- A complete eviction check, comparing over 25 million eviction records
- Listings of any failures to pay rent
- Judgments for rent, possession, and money
- Unlawful detainers
- Writs and warrants of eviction
Precaution is better than cure. – Johann Wolfgang von Goethe
Deciding On A Background Check For Renters
If you are placing a property on the rental market, you should have a plan in place for how you will implement a tenant background check. Free services exist that allow you to avoid the financial burden of running the credit and criminal background checks, while still providing you with the peace of mind that you have verified a tenant before they move in. When you are looking for a tenant screening report, keep the following in mind.
Keeping The Ball Rolling
As a landlord, the number one goal you have is to keep your units occupied with trustworthy tenants. This task can seem more daunting than it needs to be. The key is to implement tools that will speed up the process for you and keep the ball rolling. When you use an online landlord software, you can build out your marketing, application process, screening process, and rent payments all in one location. This is ideal, as it frees up your time and allows you to potentially manage multiple properties down the road without getting lost in paperwork.
The beauty of using TurboTenant for tenant screening is that once you reach the bottom of the above flow, you can start again without needing to rewrite or recreate your online listing. Your property will be saved in your account and the moment one tenant is moving out, you can relist the property and start the simple process again.