A new landlord can always benefit from a guide to the process of tenant verification. This process involves several steps that need to be taken in order to ensure that it runs smoothly. Failure to complete even one of the steps can spell disaster later on.
When handling tenant verification the first thing to do is have a background check performed on the tenant in question. The other steps are unnecessary if the background check turns up something that would cause you to deny a potential tenant a lease. That is why it is important that this is always the first step in the process.
Provided a potential tenant passes the background check the next step in the tenant verification process is a credit check. You can either accomplish this through checking references on your own or having a private agency perform this step.
Once a tenant has passed the credit check the next step is to file a verification form with your local police department. This will allow you to find out whether or not they have a criminal record.
The last step in the process is to get references from a potential tenant’s previous landlord. This will give you a good idea of what the experience of renting to them is like.
In the event that you cannot find a tenant to fill a rental property for you, there is the option of turning to a local real estate agent to find you one. A real estate agent will also be able to help you determine the amount of money you can rent your property out for. The amount is determined by taking into consideration the location of the property as well as the physical condition of it and its size.