- Leasing out a property to a tenant is one of the simplest ways of earning a good amount of money every month. Being a landlord has numerous benefits, especially when it comes to the profits that one reaps. Even though the job of being a landlord does not entail much, there is a scope for things to go wrong. Being a tenant means that you have to give out your property to someone who you probably don’t know. Even though it's all part of the job, getting to know the person who you are giving out the house to is a necessity, lest you find yourself in trouble.
Doing a small background check for tenants is something that all landlords should do, regardless of how big or small the property is. If the person who you are letting stay at the property, and they are part of something that is illegal, the chances are that you will also get into trouble because they were living on your property. Whatever the situation can result in, it is better to be safe than sorry and therefore, leading to the points mentioned below.
#1 Check their identity
- When a person moves into your property, they are required to give you proof of their identification. A good practice is to do a background check and to see if their identity checks out. In simpler words, they need to be who they say they are. If someone is living illegally in the country and you end up giving your house to them, because they forged papers of some sort, there is a high chance of you getting into trouble as well.
#2 Ask them if you find discrepancies
- If while going through their papers, you find something is not there or something that they are hiding from you, a good practice is to be straightforward and ask them about it. If thereon they do hide their facts and papers as well, then you know that something is going wrong behind the scenes, which you should vary about.
#3 Check for any mal intent or criminal activity
- People who have been arrested before or who have been charged with any crime tend not to want to show it to their landlords. Finding out if your tenant has a clean record or not is always a good practice, and will give you the peace of mind knowing that you aren’t giving your home to a criminal.
#4 Check their housing history
- Ask them why they are moving to this new house. If they were living on rent somewhere else, find out if they left by choice or got evicted. If they did get evicted, a right call would be to see why to avoid any hiccups that you might have to encounter along the way.
#5 Check if they meet your credit requirement
- One of the most important things is to find out is if the tenants who are coming to live on your property meet your credit score. They need to be able to have all their financials in place just so that you know that you won’t be duped and you will always receive your payments on time.
By keeping the above things in mind while approving your tenants, you will be sure to have your bases covered and a smooth tenant-landlord relationship.