Here are some things to know:
1. Where to Look for Potential Tenants: Give your best shot at trying to obtain referrals from your family and friends. Hand out advertising fliers for their friends or ask them to hang the flier on the bulletin board at work.
2. Place an ad in the newspaper or in an online community.
3. Once you locate what appears to be a suitable tenant, hire a professional screening company. Their background screening services should include:
a. Background Check Services
b. Credit Check Score Information
c. Judgment Search
d. Bankruptcy Search
e. Foreclosure and Eviction Search
f. Address verification
g. Verbal Employment Verification
h. Landlord Verification
i. Debt / Income Ratio Calculation
4. When you are ready to hire a reputable screening company, you can search online using tenant screening as the keyword along with the name of the city; such as, tenant screening la, tenant screening Pittsburgh or whatever city you are from.
Tenant screening allows landlords to narrow down all their potentials. Those who score best on the rental application regarding tenant credit, employment, and rental history are the best risks. When you are a landlord, it’s imperative to know who your tenants are. Just one tenant can cost you thousands of dollars if you don’t use the tools available to you. So many landlords would just trust their judgment. It’s a different world out there now. Being a landlord is a business. You need to treat it as such by trying your best not to get screwed.
I learned about tenant rights and tenant laws at an Investors’ Club. Property Guard of Pittsburgh / Los Angeles was recommended. They perform tenant screening then grade potentials with a letter based on their credit, debt/income ratio, length of employment, and rental history; i.e., A = No Risk; B = Minimal Risk; C = Moderate Risk; D = High Risk — http://www.mypropertyguard.com
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