Owning a rental property is risky business. Not financially speaking, but because of the possibility of renting to a toxic tenant. This means that you have to take precautions to ensure you are able to spot a toxic renter. However, this may be easier said than done. Unless people filling out rental applications are completely honest, they are not going to let you know of their destructive tendencies, or that they plan to turn the garage into a meth lab. This means that you have to invest in background checks for every person you are considering renting to. By taking this step, there are a number of things that you will be able to discover.
The primary things that potential renters will lie about are highlighted here.
Their Criminal History
This will include any type of crime against another person, such as rape, assault or armed robbery. Other things that may be lied about include arson, auto theft, vandalism and burglary. This is why having a comprehensive, national background check is a must for any potential renter.
Their Drug Activity
There is no better place to hide illicit drug business than a rental property. With a simple background check, you can easily discover if they have any prior charges related to these types of offenses. You will also be able to learn about any suspicious behavior by calling their prior landlords.
Questionable Past with Minors
Any type of sexual offender will take extreme steps to hide their status and this can be for a number of reasons. They may be ashamed of their past, or they may want to live in a new home, where they are unknown and can look for their next victim. No matter the reason, you need to be sure that you are aware of their past and all the shady details that may go along with it.
No Type of Income
Any person filling out a renter’s application knows that the last thing you are going to do is rent to them if they have no source of income. In some cases, they may simply invent or lie about a large corporation that they work for in hopes that you will never verify this. Take the time to verify employment.
For some property owners, all this proves to be too much, which is why they should hire a reputable Property Management Company in Las Vegas. An experienced company will handle background checks and tenant screening to establish that you only rent your property to high qualified and screened renters.
