The Socially Conscious Landlord

Tenant Screening - The First Line of Defense

Getting a tenant for an unoccupied apartment is definitely a good idea. Besides getting enough cash to cover maintenance expenses for the place, the rent can also add to the family’s income. But getting good tenants is of prime importance in order to ensure safety and peace of mind in the long run. There are three principal types of screening that must be done by the landlord (or lady) before renting the property. These are as follows:

1. Financial screening: Before the dotted lines are signed, it is of utmost importance to find out the prospective tenant’s economic status. Thorough credit checks must be performed. If the tenant has a history of evading debt repayment, or has fallen into repeated bad debts, chances are he/she won’t be able to pay up on time. The person must also have a permanent job with adequate salary to cover the rent after considering basic expenses. If he/she is in business, it is important to know the average profit made on a monthly basis. Learning the nature of the business is essential.

2. Identity check: It is important to determine that the identity the person is putting forward is correct. Photo-IDs are good ways of doing this. Driving licenses, Social Security cards, or any other acceptable ID proof should be checked and verified. It is essential to find out where the person lived before, and doing a background check. If the person rented an apartment somewhere else before, it is important to do a background check in that area. A person’s criminal record must also be checked. A speeding ticket received 5 years ago should not matter, but a drunken assault warrant at any point of time is unacceptable.

3. Personal observation: The appearance and the way a prospective tenant carries himself/herself speaks a lot about that person. For instance, if a person is fidgeting constantly, chances are high that he/she is hiding something. Also, if the person is constantly trying to evade questions about his/her background, there can be two reasons. He/she could be really shy about discussing his/her personal life, or there might be a black spot in his/her past. But since there is no easy way of determining the true reason, this kind of attitude should be noted as disturbing.

Getting a tenant is a great idea to keep an unoccupied apartment in good shape, while earning some cash to boot. But thorough screening of prospective tenants is important before signing the agreement. That would ensure safety of the landlord/landlady and also form the first step towards a long and mutually profitable relationship.