Renting your apartments or flat is an easy way of making money in most metropolis cities. As easy it may sound, renting your property to someone involves a lot of documentation and legal work. The process usually takes ten to fifteen days before the renters can finally move in.
Besides the cumbersome documentation work, there is one thing, which is much more important— an extensive background verification check on your potential renter. With a large number of criminal cases being heard every now and then, landlords cannot afford to take any risks. All prospective renters should be made to fill out a rental application form. Renters with a brief history of not paying their rent, happen to be evicted in the past or possess a criminal record are more inclined to cause difficulties. This form will provide you with the required information to perform a background and credit check. Ask them for current contact information, the names and addresses of present and previous owners and employers, social security number, driving license number as well as banking account numbers for a credit check.
If you want, you can also include a credit report agreement and tenant criminal background check application with the rental application. Though, Section 604 of the Fair Credit Reporting Act requires that landlords ask permission before performing a credit check. Clearly, a landlord can refuse a consumer the capability to rent if she or he does not want to authorize a credit check. Credit history will tell you about your prospective renter’s credit reports: foreclosures, bankruptcies, unlawful detainer suits, evictions along with other credit associated public record events.
Besides the employment and credit card checks, you can also do your own research by checking their social media profiles and Google footprint. This will give you a vague idea about the person’s character and reputation in the society.
Background Verification - VVScore 