“How To Determine The Best Tenant Background Search” written by Mike Marko
Looking to improve your tenant background search?
I’m glad you’re thinking about improving your background search. Property managers like you should conduct a thorough background search on every prospective tenant because it will help you achieve success in a rental property business.
The background check can help you choose the best tenant for your property. It will give you an insight into how the applying tenant will behave inside your property.
Do you know how it’s possible?
I’ll answer that question in this blog post. Today, I’ll talk about tenant background search and how you can get the best and most reliable results from it.
Best Tenant Background Search Companies
To get the most reliable or accurate results from your tenant background search, you need to hire a background check company.
But before you start hiring a background check company, you need to fully understand the background search first.
With that said, let’s first see what a background search is.
What Is a Background Search?
The tenant background search is also known as background screenings, background checks, and pre-employment screenings.
This process gives you information about a prospective tenant’s education and employment history, civil records, criminal records, references, etc.
You can use the background report to verify the information on the tenant’s application form. With this, you can be sure that your tenant isn’t committing a fraud.
But aside from that, here are other reasons why you should conduct a tenant background search.
Importance of Background Check
It’s the property manager’s responsibility to protect tenants and employees. That’s why it’s important to conduct a tenant background search on an applying tenant.
Conducting a tenant background search is the best way to verify the information on a potential tenant’s application form. Verifying information about the tenant will help you confirm the identity of the applying tenant.
In addition to that, running a tenant background search on potential tenants can help in keeping your tenants, your employees and your business safe.
Lack of tenant background search or poorly done background checks can lead to very awkward situations. You may even end up taking on a tenant with a criminal bent!
However, many criminals can still pass a tenant background search. To keep this from happening, you need to conduct a thorough tenant background search by hiring a good background check company.
How to Determine a Good Background Check Company?
Choosing the best background check company is tough. That’s because there are hundreds of background check companies on the Internet and each of them offers different services.
Investing in a reliable background report will benefit your rental property business in the long run.
It’s best if you have criteria in choosing a background check company because it’ll help you choose the right one for your rental property business.
To help you do that, take a look at the following criteria in choosing a background check company.
- Pricing: It’s best to choose the company that will give you the information that you need for the price you can afford.
- Unique features: This is what sets each company apart and gives them a competitive edge.
- Credit reporting methods: This is how the tenant background search company obtains the tenant’s FICO score and is usually from one of the three major credit bureaus.
- Criminal background checks: It’s advisable to choose the company that’ll give you a complete record of the applicant’s criminal records.
- Landlord, residence and eviction history: Having complete information about the applicant’s rental history will give you an insight on how they will behave in your property.
- Income and employment verification: This helps verify the tenants’ employment and their income to see if they can afford to rent your unit.
You need to check the feedback and reviews of your chosen background check company as well. Doing this will ensure you that you’re getting a reliable tenant background search report.
Best Background Check Companies
You should choose the background check company that has a lot of positive reviews and feedback.
A company that has a good reputation means that they’re reliable and able to provide an accurate tenant background search report.
Property managers like you should hire a reliable background check company. They can help you achieve success by helping you fill your rental property with quality tenants.
To help you save time from searching for the best companies, here are some of the best background check companies.
- MyRental – Best overall, featuring a good suite of screening options and reasonable pricing.
- RentPrep – Ideal for landlords who want certified live screeners who can verify key information.
- LeaseRunner – Most flexible option, with an a la carte plan where users can choose what they need from several rigorous reports.
- TurboTenant – All-in-one platform for landlords because you can also post your rental listing on its site.
- National Tenant Network – A scored report from 0-100 that’s easy to read and includes a recommendation.
- My Smart Move – An alternative tenant screening service to MyRental.
Final Thoughts on Best Tenant Background Search Companies
Property managers need to conduct a tenant background search or background check on every applying tenant. This is important because it can help them avoid having problematic tenants.
The tenant background search can also help in choosing the right tenants for your property. You just need to conduct the background check thoroughly to ensure that all of your tenants aren’t committing any kind of fraud.
Also, consider hiring a background search company. They can help you conduct a thorough background check to fill your rental property with quality tenants only.
That pretty much covers all you need to know about the tenant background search. If you still have questions about a tenant background search, leave them in the comments below.
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