What does a tenant screening check provide for you, and what are the guidelines?
Landlords in Atlanta have asked themselves this question for decades. The answer depends on the value tenant screening can bring to your circumstances.
How to choose tenants and identify red flags requires time, patience, and due diligence. Unfortunately, building owners may have other concerns that make this process a nuisance. If you feel like this describes your situation, but you need a complete picture of the information you'll receive, you've found the right article.
Read this post through the conclusion, and you'll have a complete understanding of the essentials.
Proof of Income
While circumstances can always change, a tenant check report should include income information. This proof usually comes in the form of paystubs for the last few pay periods.
Gathering this data and following through on questions it raises may be a crucial reason to hire a property manager in Atlanta. This part of the screening process may involve playing phone tag while trying to conduct other business.
Credit Score and Report
Little or no credit history may be harder to judge, but most individuals who apply will have records to consider.
Bankruptcies or chronic problems with making payments on time will get red-flagged quickly. You can also receive official scores from the big three credit bureaus. These organizations include Equifax, TransUnion, and Experian.
Address and Eviction History
Another crucial part of tenant screening is taking a close look at a person's address history. Sometimes life can take you in different directions, but an unstable past can be a sign of trouble.
Having this report also gives you the chance to call the owners of the previous buildings. Renters don't always provide complete information here, and sometimes for obvious reasons. A quick conversation with another landlord may be all you need to make a decision, especially for first-time landlords.
Would you hire someone who has a long history of short periods of employment?
For contractors of all stripes, this job history may be part of the occupation. For the rest of the population, it's often a sign of unstable income. Taking a closer look into why an applicant left positions can speak volumes about your potential risk.
Tenant background checks may reveal unsettling information available from accessing public records. A long history of criminal convictions or becoming listed as a sex offender certainly tops the list of concerns.
More About Tenant Screening
Now that you know what you should receive from this type of report, what should you do if you have more questions? You may consider looking at reviews for tenant screening services or ask for advice from trusted friends or family.
HomeRiver Group has the local experience in Atlanta real estate and no-nonsense advice you need to make a decision. Contact us today through our website or call 770-998-9300 to speak to one of our friendly team members.