What Every Landlord Needs to Know
One of the most important decisions a landlord can make is which tenants to choose. Unfortunately, pursuing an eviction can cost thousands in legal fees. Add to that months with no rent coming in, and a bad decision easily can cost a landlord their profits for the year.
Fortunately, the problem is easy to avoid once a landlord learns how to check rental history.
What is Rental History?
People tend to be creatures of habit. Unfortunately, sometimes those habits are bad ones.
A tenant’s rental history is a snapshot of how the tenant handled their responsibilities under previous lease agreements. It includes basic information like the tenant’s rent payment history, whether the tenant caused damage and lost their security deposit, and whether the tenant left early.
Discovering the tenant’s rental history assists landlords in avoiding common risks, like renting to a tenant with a violent criminal history or someone who already has been evicted multiple times for nonpayment of rent.
How to Check Rental History: 5 Easy Steps
Step 1: Prequalify the rental applicant
The first communication with the rental applicant typically is a phone conversation with the landlord in response to an ad. New or inexperienced landlord sometimes make the mistake of rushing this call and immediately scheduling the applicant to see the property. But in that rush to fill a vacancy, those landlords miss a crucial opportunity to evaluate the tenant’s history.