I use a company called Accurate Credit (www.accuratecredit.com) but there are lots more out there. Starting at $19.95 you can get credit and background information on your candidate; this is a good investment. You’ll be required to have a signed lease application from the candidate, along with their consent to run the check. This is useful for higher-end properties, but is significantly less useful for lower-end properties, where the tenants often have poor or no credit. In these situations you’ll need to use other methods of verifying the candidate’s reliability, primarily contacting their employer and previous landlord. But the bottom line is, if something smells fishy, don’t ignore your instincts.
Tenant Screening and Landlord Preparation for the Process
From Christopher Smith, for About.com
Your gut instinct will go a long way towards keeping you out of hot water (assuming you follow the point above about meeting the candidate). But don’t skimp on the due diligence. Run the checks and see who you’re about to put into your property.
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- Set the Right Rent Level
- Decide on Using a Real Estate Agent
- Meet With the Applicants - Don't Farm Out This Task
- Do Your Due Diligence and Avoid Problems Later
- Comply with All Federal and State Fair Housing Laws
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