Today’s economy has been difficult for many, including landlords. Without warning, a tenant you trusted skips out in the middle of the night – leaving you holding the bag for their rent payment and numerous damages. Too late, you discover false or misleading information on their rental application and you find out the hard way, they have a history of trashing home after home.
Your property is valuable, and you want to know – not just hope – your tenant will take care of it. Screening before signing a rental agreement is an effective way to reduce your loss exposure risk.
- their reasons for their interest in your property and for leaving their current place.
- how many people wil occupy the rental unit and how long of a period are they looking to rent. The longer, the better.
- how close is their work and how long have they been employed there
Take time to check these items before accepting a new tenant:
- Credit Reports
- Verify Drivers License – does it appear to be legal, check the photo and signature for matching of prospective tenant.
- Eviction History – check with the courts to see if your prospective tenant has any eviction judgments.
- Criminal History – be sure to have your applicant sign a release form if you do this check.
- Landlord History & Movement Patterns
Does your insurance carrier support your efforts? As part of their commitment to professional landlords, Foremost offers a discount when you use screening methods such as these.
Not sure what your policy provides or you are a landlord looking for coverage? Contact your Pennsylvania Insurance agent, The Weimer Group to discuss your coverage and find out more about the Foremost Landlord program.