Is 500k worth 25 bucks?

I had nearly identical conversations with two new landlords this week.  The conversations went roughly like this.

I found someone to rent my house.  I just need them to sign the lease. I am not sure if I want to spend the money on running a credit and background check.  I don’t want to change the applicant an application fee and scare them off either.

What do you suggest?

Of course, I suggested they run background and credit checks.  You might say, you suggest that because Renting Authority makes money from background and credit checks.  That is true, but it is a necessity.  When the economy is unstable, you must stick with the basics.

• Have applicant fill out and sign a complete rental application.
• Run background and credit reports
• Do employment and rental verification.
• Have applicant sign a rental lease agreement.

Here’s another strange occurrence.  Unfortunately, I keep hearing stories like this more and more. 

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