Most homeowners rent out their property to make some profit from it. Choosing a suitable tenant is very important to prevent yourself from the inconvenience that many owners usually go through after renting out their home without properly monitoring the renters. To enjoy true benefits of renting a house, it is necessary for you to be sure that you choose correct renters for your real estate. Below mentioned are some of the ways of screening an occupant.
The most important thing is to be sure of their employment. The best way of doing this is by requesting the applicant to represent his or her proof of income and tax returns. Bank statements are also feasible at times. In case the documents provided by the applicants fail to assure you about their job, you can get in touch with their employer and also look for fraud. You can also seek help of professional companies that specialize is verification of employment or income. It is better not to rent out your house to anyone who is not able to prove his service as this might result in problems ahead.
Going through the credit report of the prospect is another way of making sure that the occupant is responsible towards his financial liabilities. You need to understand the fact that people with good credit rating can qualify for home loan and they might not be your leaseholder for a long time. On the contrary, you might come across many people with poor credit score which can be because of a recent short-sale or foreclosure. Although, they have bad credit rating, they might not have any pending debts. Therefore, it is better to thoroughly go through complete credit report rather than merely accounting on the credit score.
Homeowners must make sure to consider the criminal history while screening the renters. There are plenty of searches on criminal history around the nation, but it is wise to be careful while screening the candidates with common names. An ideal way is to restrict the search to a region or state. It is feasible to know that it is not necessary that a person with no criminal record can be a good tenant. Therefore, always ensure to take it as an additional check.
Perform a background check. This is one of the best ways to know about the renter. You can contact the previous landowners and know how it was to deal with them. It is better to go to earlier landlords as compared to the current one as he might say good words about the tenant only to get rid of him as soon as possible. Therefore, references of previous landholders would be more feasible.
Homeowners can also walk into the home of the applicant and see how they maintain their present residence. In case they do not keep the property is not good condition, they are sure to do the same to your real estate as well. Dealing with them might not be a good experience.
Therefore, choose your tenants wisely to avoid the troubles that usually come with renting the property.
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