So You Want to Rent Your Property Out: How Does Tenant Screening Fit In?
Properties are great investments for people looking for solid secondary income. It can pay off your mortgage, or just provide the finances to make bigger purchases you could have afforded previously; however, it can also be an incredibly stressful time if you have not selected a responsible tenant. To avoid having an irresponsible, or even dangerous, person living in your property, tenant screening can be a very valuable tool distinguishing people with exceptional and trusting backgrounds.
Tenant screening services can provide information that credit scores and income reviews do not provide or unveil. Just because someone has a proof of income, good credit score and insurance does not make them automatically trustworthy, or that they are not going to completely destroy the property you own. While you might be able to charge them for the damages they have created, you will still be losing money from the time it takes to restore the place. No one will be able to live in it while you clean the living space, therefore, you would be losing rent, your secondary income, for an immeasurably amount of time.
Obviously, doing a criminal record search is also a great idea to make certain that your possible future tenant does not have a history of, say, arson, and could potentially take joy in the act of burning your property to the ground. Obviously, there are plenty of uncountable reasons to perform this type of check, some more threatening to your property than others.
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