Nov 21, 2015

5 Ways to Check the Background of a New Tenant

You must have heard stories how tenants become the reason of the nightmares of landlords of house for rent in Hyderabad. If you have a house and want to give it for a rent, you definitely want the whole procedure go smoothly without any menace. Only good tenant can take care of your property, follow every legal procedure and never mess up with rent. But how will you know before who is good and who is not? At the initial stage, you’ll find everything good about them. But if you want to be sure about your renter, it is crucial to scrutinize every prospective before letting them sign the lease agreement.

How to Check
What are the processes of screening every new tenant? There are basically two ways-
1.   You can consult a rental property management company. They will do every inspection on behalf of you. You just need to pay certain amount.
2.   If you don’t want to spend and rely on your power of inquiry, be cautious and do it by yourself.

What to Check
Checking the background of tenants is not a difficult task. You just need to follow certain steps for that-
Request Tenants to Complete Rental Application
From the local real estate association, you can get sample forms of rental application or you can take help from online. Ensure that your application form must have fields like tenants’ name and present address, their financial information, contact number, names of current employers and personal information. You should make it clear on the application that according to the information they provide, a thorough background check will be done and they’re granting to check their history.

Go for a Credit Check
Through a credit check, you can get idea about the tenant’s credit history of last 7 to 10 years. As a landlord you have every right to see the credit report and credit score of every singular tenant. Check if the tenant has any history of bankruptcy or has any debt still unpaid. In such case, the tenant has to struggle to pay the security deposit and even the rent afterwards.

Interview the Tenant
A personal interview can always give you certain idea about the tenant. Through a personal interview session, you can be sure about their nature and this will make both of you comfortable for further discussion. What should you ask as a landlord of a rental apartment or flat in Hyderabad?

Reasons of changing present address
·         Who are going to live in the house?
·    Will they pay the first month rent with security deposit before moving in?
·         Do they have regular visitors?
·         What do they do by profession?
·         Do they work at night?

Run a Background Check
Only a thorough background check can satisfy you about the tenant you’re dealing with. There are several organizations who investigate the background history of a tenant and give you report within mentioned time. Such companies provide reports on eviction, criminal record, different public reports and credit history. You can also ask for these reports by using a tenant’s social security number.

Contact Past Landlords
This is one of the effective steps to know your tenant better. When you call any of the tenant’s past landlord, you should ask certain questions without disturbing anyone’s privacy-
·         Does he pay rent within time?
·         How does he treat their property?
·         Does he maintain a good relationship with neighbors?
·         Does he owe any debt to the past landlord?
·         Would he rent him in future?

Any positive answers to such questions can assure you that you don’t need to spend sleepless nights after giving your room for rent.

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