A study showed that landlords file around 3.6 million eviction cases every year.
As an investor, you want to avoid tenant eviction as much as possible. They are expensive and the process of removing a renter is long and extensive. While there are times when it's necessary, the best way to avoid this process is to do some extra work in the beginning.
Before moving a renter in, it's vital that you run a tenant criminal background check. This article is going to discuss why this step is so important and the benefits of a thorough screening process.
Protecting Your Investment
No matter what type of property you own, it's a significant investment. When you move a tenant in, you're putting your property in their hands and you want to be able to go to sleep at night knowing it's safe.
Having a trustworthy tenant will ensure your investment is viable for a long time. A tenant with a history of criminal behavior, especially property-related crimes or evictions, may be more likely to cause damage.
This could negatively impact your investment. Running a criminal background check will help you avoid these issues and risks.
Ensuring Safety
The safety of your property and other tenants should be high on your priority list. Running a tenant criminal background check will help you identify potential tenants with a criminal record.
Having this information will help you to make an informed decision about your property. It's important to keep in mind that a criminal record doesn't always mean the person is a threat.
It simply allows you to assess the nature and severity of past offenses. The more you know, the better position you'll be in to understand the potential risks.
Maintaining a Positive Community
As a property owner, you have some responsibility when it comes to keeping the neighborhood peaceful. You won't want your property to be a site for illegal activity and distribution.
By screening tenants for criminal backgrounds, you can reduce the chances of conflicts within your property. This creates a more positive and desirable community for all residents, which could potentially increase your poverty values.
Reducing Liability
You have a duty to provide safe living environments for your tenants. If you don't conduct adequate tenant screening, and a tenant with an unknown criminal record hurts someone, you could be held liable.
Asking a potential tenant about their employment history and running a background check will reduce your legal liability and show all your tenants that you care about their safety.
The Importance of Tenant Criminal Background Checks
Owning and managing property isn't easy, and finding reliable and trustworthy tenants can take some time. However, as you can see, conducting a tenant criminal background check can help make this process a little easier.
Having all the information ahead of time will help you avoid a long and expensive eviction.
If you're struggling to manage your property and need help with tenant screening, our team is here. Contact our experts at PMI today and we'll answer any questions you may have about finding tenants.
