Selling Your House?

Selling Your House?

Renting Out Your Home? 2 Things You Should Check To Screen Potential Tenants

by Steven Stephens

If you are thinking about renting out your house, you might feel like you know what you are looking for in a renter. Unfortunately, people aren't always as they appear, and that normal-looking young lady might have a temper and a raging drug problem. To keep your property pristine, you might need to dig a little deeper before you hand over those keys. Here are two things you should check to screen potential tenants, and how this information could help you in the long run:

1: Employment History

Because tenants don't typically work for their landlords, many property owners are tempted to leave "employment history" section off of the paper application. Although it might seem like a silly thing to ask about, employment information can tell you a lot about each applicant, including:

  • Level of Education: Where a person works can tell you a lot about their education level. For example, if an applicant works as a physician's assistant at a local hospital, you could probably assume that they have a high level of professional training. If you are looking for a responsible, intelligent tenant that is easy to work with, you might have better luck with an applicant who has made their way though college and a professional workplace. 
  • Stability: Are you looking for a stable tenant who will rent from you for a while? Employment history can also speak volumes about a person's stability. For example, if they have been with one employer for several years, you might not have to worry as much about them jumping ship after a few months.
  • References: Instead of skipping over those references, take the time to call a few former employers. You might be able to find out if the applicant is reliable and whether or not they have any notable personality quirks.

As you scour each applicant's employment history, keep in mind that things like age and special circumstances can alter what you might find. For example, if you are interviewing a potential tenant who has recently graduated from college, they might not have had the opportunity to work for a single employer for very long.  

2: Credit Report

If you really want to learn more about a person, check out their personal finances. Believe it or not, by asking for a potential tenant's social security number, legal name, and address, you will have everything you need to have a credit report run in their name. Although this information might seem irrelevant, financial data could give you important clues about each applicant's tendencies. Here are some things you should pay attention to:

  • Prior Evictions: If an applicant has been evicted from a previous property because they failed to pay their rent, it will show up on their credit report. This information might help you to skip over applicants who have a longstanding history of trouble with landlords, so that you can enjoy a smoother experience.  
  • Late Payments: Because credit reports also show late payments, you might be able to avoid a tenant who doesn't like to pay their bills in a timely manner.   

Keep in mind that although running a tenant's credit history is legal, most places have rules regarding how to go about the process. For example, California law states that landlords have to issue an itemized receipt for the service, and in most places you have to notify the tenant that you intend to collect financial information. Because pulling a credit report can also impact a person's credit, try not to run a report for a tenant unless they are a serious contender.    

Being able to weed out bad tenants might help you to avoid hassles, and keep unplanned expenses to a minimum. Or you can get help from companies like Sunworld Group Inc.


About Me

Selling Your House?

Hi, my name is Jessica Williams. Thanks for stopping by my website. I have moved a number of times and in three cases I have had to sell a house. The first time I sold a house I listed it with a real estate agent. The second time I did it myself. The third time I listed with a realtor. You can probably ascertain from this information that I found listing with an agent the better route. I managed to sell my house by owner that one time, but never again. There is too much involved and too great a risk for errors. There’s a bunch of paperwork and preparation that goes into selling a house, more then I imagined. My goal here is to share my experiences with you. My hope is to make your experience as pleasant as possible.