Why do Rental Verifications Matter?

As a landlord, you're always looking for the most reliable tenants. Rental history verification is an essential element of the tenant screening process and can help you make informed decisions about prospective renters. 

Without verifying an applicant's rental history, landlords risk unknowingly renting to someone with a history of evading the monthly rent payments due or criminal activity.

In this article, we'll explore rental verification in depth, including what it is, what you can learn from verifying rental history, and how it fits into the overall tenant screening process.

What You Can Learn by Focusing on Verifying a Tenant’s Rental History

Reviewing the rental history of each prospective tenant provides numerous benefits and helps mitigate potential risks. Here are some key points to consider.

Verifying a Tenant’s Rental History Benefits

• Verify their identity:

  The process allows you to fact-check and ensure applicants have been truthful on their applications.

• Evaluate past behavior:

  By contacting previous landlords, you can gain insight into the applicant's past behavior as a tenant. Doing so can help you evaluate whether the applicant will likely be a responsible tenant.

• Identify potential issues:

  If an applicant has a history of late rent payments or damage to previous properties, you may choose to consider other prospects.

• Avoid legal issues:

  By verifying a prospective tenant’s rental history, you can avoid potential legal issues. If an applicant has a history of eviction or other legal disputes with previous landlords, the same situation could occur with you.

  
  

Ignoring Verifying a Tenant’s Rental History Risks

• Poor tenant selection:

  Without proper screening measures in place, there is a risk that you will select tenants who are not suited to your property or who have exhibited problematic behavior in the past.

• Financial losses:

  Not verifying rental history could result in financial losses due to unpaid rent or destruction caused by tenants.

• Reputation damage:

  Renting to unsuitable tenants can lead to potentially negative reviews online, making it harder to attract future responsible tenants.

Conducting an identity check can give you peace of mind knowing that the person you’re allowing into your property has a legitimate background and isn’t a potential threat to you or your tenants. By taking the extra step to verify your tenants’ identities, you’re also protecting your property investment and ensuring a trustworthy and safe environment for everyone involved.