Houses in the United States cost over $350,000 on average as of 2022. As a result, it's become more difficult than ever before for first-time homebuyers to find a place of their own.
Although this has made it difficult for some people to buy a home, many people have leveraged this as an investment opportunity.
As you might guess, though, it's imperative that you run a tenant criminal background check before renting out your property. In combination with proof of employment, proof of income, and tenant references, you can ensure that you choose the best possible candidate.
Let's take a closer look at what you need to know.
1. It Is Your Responsibility to Keep Your Community Safe
Making sure your tenant is not a criminal or has any history of criminal activity should be a top priority. A thorough background check will include a complete look into the applicant's past, including any current or prior felony convictions, misdemeanors, sexual offenses, and any other relevant information.
Additionally, doing so will allow you to verify that the person is who they say they are and has no false identities.
2. You Can Minimize Turnover
As a landlord, you want to make sure that your tenants stay for the duration of their lease. Conducting a criminal background check can help prevent unnecessary turnover and ensure that those entrusted with residing on your property are trustworthy and dependable.
With this information, you can also determine if they have had any issues with previous landlords or evictions. Even a brief period of vacancy can cost you a substantial amount of money, so this is an important step that shouldn't be overlooked.
3. You Can Avoid Damage to Your Property
No one wants to have their property damaged or stolen, and a criminal background check can help protect you from these risks.
By knowing more about the person who will be occupying your rental unit, you can make an informed decision that is in your best interest. This may even provide peace of mind knowing that there will be fewer chances of any incidents taking place.
4. You Can Minimize Liability
Having a thorough understanding of your tenant's criminal history is essential to minimizing liability.
If anything were to happen while they are residing on your property, you may be held liable if the person had not been adequately screened. In most cases, conducting a background check before signing off on the lease agreement can help provide additional protection and minimize any potential legal issues you may face in the future.
You Should Never Overlook a Tenant Criminal Background Check
Running a tenant criminal background check is an important step when it comes to renting out your property. By conducting this type of screening, you can make sure that only trustworthy tenants are approved and that you are doing everything possible to protect your investment.
Just be sure to keep the above information in mind so you can make the decision that is best for you. Want to learn more about what we can do? Be sure to reach out to us today and see how we can help you.