How do you find the perfect renter in a vast sea of potential tenants? Well, the answer is quite simple. The importance of tenant screening is essential for landlords and any property management service. You are not looking for just renters…rather you are searching to solidify long-term residents for your rental property or properties.
The main benefit of tenant screening is to minimize the risk of income loss. A tenant screening does not guarantee a financially responsible tenant and monthly rent payment but it most certainly helps weed out those less desirable renters without the proper financial overhead. This will protect against midnight moves, evictions and lease defaults. It is without a doubt that proper due diligence up front pays off in the long run.
Another benefit is to greatly and effectively reduce the risk of fraud. The average tenants typically provide far less information about themselves that is really needed to secure a long term leasing agreement. Effective tenant screening is imperative in order to safeguard the property manager and owner against potential fraud.
Did you know that all landlords must check tenant names against the OFAC list? Failure to do so is a violation of the Federal Law. Creditfacts will assure compliance with this law. Avoid getting slapped in the face with needless fines if this required check is forgotten with each tenant transaction!
Creditfacts will create a win-win outcome for both tenant and property managers. The average time to perform a tenant check online through Creditfacts is 30 seconds. In the end, a happy tenant makes for a happy landlord!