How comprehensive tenant screening can spare you
Too often we hear landlords bemoan the long tenant screening process we advise but the truth is — if you don’t screen your tenants there is a very real chance you’ll rent to a murderer, fraud or fugitive. Or at the very least someone with crappy credit, poor rental history and major damage claims.
Want a real life example — James “Whitey” Bulger rented a small Southern California apartment for years with his girlfriend. At the time he looked at the apartment, the landlord didn’t require a background check or credit history. He had cash and seemed like a nice guy.
Whitey was a major Boston mobster on the run for participating in the murders of 19 people. After 16 years on the run, neighbors reported seeing a woman who resembled Whitey’s girlfriend feeding a stray cat in the area. This tip and other evidence allowed the FBI to finally capture Whitey and his girlfriend and you wouldn’t believe what they found in his apartment. Stacks and stacks of money. Guns, ammo and knives hidden in the walls.
This landlord was renting to a murderer! Lesson learned.
Stories like this are more common than you might think. This is why ICOR is proud to partner with TransUnion SmartMove. They offer comprehensive tenant screening including background checks and credit information you can use to make an informed decision about your potential tenant.
Besides great tenant screening landlords also need to create clear rental standards and requirements and an application packet.
Join the team from TransUnion SmartMove at the October ICOR meetings to discuss the importance of tenant screening and other issues small landlords face.
Tuesday, October 7th
Wednesday, October 8th
Denver Monthly Meeting - Getting to the Next Level with Your RE Investing: How to Increase Your Wealth Exponentially
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Thursday, October 9th
Northern Colorado Monthly Meeting - Getting to the Next Level with Your RE Investing: How to Increase Your Wealth Exponentially