Planning to put your house on rent? But do you know about the fact that tenant fraud and crimes are rapidly increasing in the nation?
Hence, if you are planning to put your property on rent, then you must always verify that the person you are renting your property to is qualified enough to live in it. A good tenant will help you to prevent a lot of losses that might occur in the future. This includes property damage, not paying rent on time, involving in criminal activities, and many more.
A bad tenant will not let you live in peace. But, how will you determine if a person is qualified to be a good tenant? In this case, background verification plays a key role. Conducting a background verification will give you a proper insight into how they will act as a tenant renting your property. But, how to conduct tenant verification correctly? Here, in this blog, we will guide you through that.
How to conduct tenant verification?
Renting your property is surely beneficial in a financial way. But, you should be able to identify a good tenant so that you know you are renting your property to the correct people. You can take the steps mentioned below to conduct a background verification of your tenants.
Conducting a verification of their permanent address and identity
It is very important to verify the permanent address and identity of your potential tenant. These are the two basic things involved in background verification. Identity verification is essential to determine whether your potential tenants are not faking their profiles or not.
Background verification is mandatory to save yourself from fraudsters who make use of fake profiles to get a room on rent.
Another important verification is verifying their permanent address. This will help you to get an idea about the tenant’s family background. You will also know about the tenant’s reputation. Address verification can be conducted by getting in touch with someone in that area or contacting the nearest police station.
Employer and Credit Verification
These two verifications go hand-in-hand and both of them are important for property owners. Conducting a credit verification will help you to understand if your tenant is capable of paying rent on time. It will also give you an insight into how good they are at managing finances.
Credit is related to employment. Therefore, you will also be required to verify their employment status. Also, check how much they earn in a month. You can easily verify their employment status through the details provided in the application. You can also get in touch with their employer. Moreover, try to check their previous work experiences and the companies that they have worked with.
Conduct police verification of the tenants
Our Indian laws state that every tenant must go through a legal tenant verification. Before renting your property to anyone, you must go to the police station and file a requirement for police verification of your potential tenants. Once you submit your request, police officers will collect various information for verifying your renter.
Police verification will also uncover if there are any criminal records of your applicant. This is a must to protect yourself from unwanted dangers.
Cross-checking with their previous landlords
Verification with previous landlords of your tenants will help you uncover a lot of things about them. This will reveal all the details that you need to know about the applicant’s behavior. Previous landlords appear to be the best resource if you know how to use them correctly.
You can question the previous landlord about how this applicant will behave as a tenant living at your property. Moreover, you will be able to find out if they are able to pay rent on time, and how they will take care of your property. This will help you to get to a proper conclusion.
Verification with personal references
Another important factor that you must consider while conducting a background verification of the tenants before renting your property to them is the references provided by them. Of course, these personal references are likely to be biased, but they will surely reveal some good information about the applicant. Their personal references will help you to get an idea about the tenant’s character, manners, habits, etc. All these details provided by their personal references will help you to decide if they will be a good tenant or not.
Conclusion
As a landlord, you need to know the correct strategies and tactics that will help you to differentiate between good tenants and bad tenants. Background verification of tenants has become important in this era to avoid silly disputes, save money, and stay safe from various unwanted dangers. If you feel that you need to conduct a tenant verification professionally, then you can get in touch with a trustworthy detective agency in Faridabad.
