How to conduct a Background check

Question

I just listed my very first rental. I have already had some inquires. Me being brand new I would like to get some insight into what seasoned landlords have done regarding the following issues:

-How do you conduct a background check? What software or service do you feel is the best?

-What do you feel is important or relevant information to have when screening potential tenants?

-What is the optimal credit score range that you look for? And do credit checks come back with the background check results?

-Do you charge an application fee for each inquiry?

I appreciate any and all advice! Thanks!

Michael Bailey · Answer

@Madylen Barberan congrats on becoming a landlord!

Bigger Pockets actually offers tenant screening on their site through a trusted partner. There are multiple options available for screening packages; tenant involvement/no tenant involvement, instant reports, hand-compiled reports, and even income verification.

You can find further information by going to Tenant Screening under the Tools tab.

Best of luck to you!

Nathan Brown · Answer

I'm no missionary for them, but you might find something like turbotenant.com helpful. The applicant creates their own profile and pays for the credit check themself, then you get a copy of it. Pretty easy.

Jason Cox · Answer

Credit check and public records first. That will wash out about 80% of the applications . Then move on to employment and rental reference check if they pass the first two screens. If you are accepting pets you need to be very cautious to verify what kind of animal they actually have -- a lot of people will tell lies to get undesirable pets into units. Get a driver's license from  each applicant, compare the address on the DL to the rental references on the app.

If you are advertising your rental online right now I suggest you pull the ad for a few days until you get get your written process for  doing this in order. Then repost the ad.

How to conduct a Background check

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