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.