You may be wondering if it is worth it to use a tenant verification service or not. There are pros and cons to using this type of service and only you can decide what is right for your individual circumstances.
One of the pros of using this type of service for your tenant verification is that it is a simple process. The verification process can be extremely time consuming and can take you away from other tasks you need to address as a landlord. Allowing a company to provide the service for you will help you rent out your properties quickly and more efficiently than if you did all the work yourself. One of the best aspects of using this type of service is that you will generally get a quick response. Where it may take you days to perform a background check on a tenant, using a verification service will often get you results in only a few hours.
We all make mistakes and it can be easy to make one during the tenant verification process and not even realize it until it is too late. By using a paid service you will avoid this because a software program will be doing the work that you may have done too quickly or not efficiently enough. There is very little room for error when you use a tenant verification service.
However, for all the positives of using this type of service there are negatives too. These include the cost of the services, which may or may not be worth it to you. The income you make from your rentals will take a hit if you use a verification service, so you have to decide whether or not you are willing to accept the loss just to rent your property out. Another downside to using these services is that because the process if performed by computer software it is possible you could end up rejecting a tenant you would have otherwise accepted. This means that even if you do use a tenant verification service you will want to do your homework on each tenant before deciding whether or not to rent to them.