I'm getting ahead of myself, but I would like to have things prepared before I buy my first investment. Like what do people do for background check on tenants?
They must provide a copy of the social security card and ID/license. They must also provide 3 months of income stubs. They should be making 3 times the amount of the rent you're charging per month before taxes. They must fully complete my application questionnaire. Until I receive ALL of this, I do not process it.
Once I receive it, I also see if I can find their FB profile and look up online any court cases against them. I also pull up the property address of where they currently live and see if the owner of that property matches the name of the landlord they gave (unless it might be a property management company).
Vendors here? Type "landlord credit check" into Google and you will get some options. There are many landlords here that can give advice. Make the tenant pay for it.
"Visit" or drive by their current place of residence. If it is trashed, you know what to expect. Only do this if you are comfortable doing so.
I use the smartmove website which is linked to in the resources tab of this website. It allows you to have the tenant pay for the screening an provides you with the background check and credit report.
You will however have to do the landlord and employment checks yourself.
Thanks for much guys for your feedbacks!! I really appreciate it
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