Owning rental property is a wise investment. Whether it is a single family home, duplex, or large apartment building, investing in real estate can often bring great returns on your money. Often times, though, what the property owners thought was going to bring great dividends often ends up costing money. This happens because bad renters were permitted to enter and rent the home. Entering into a lease with bad renters can be avoided with a simple tenant screening report. The small investment that a property owner makes before allowing anyone to rent from them could pay off big time in the end.

It is a shame when a property owner or manager has to evict a bad tenant. A less than savoury renter could be one that doesn’t pay the rent, makes a mess of the place, or worse, destroys the property. This is never a good thing and most investors do their best to avoid such circumstances. Choosing to get a tenant screening done before entering into a lease is a positive step to avoiding negative consequences. Not all situations can be predicted, however, screening a tenant for things like credit history, rental history, and job security can help to lower the chances of getting a less than desirable tenant.

When rental property sits empty, it is not making the owner any money. However, it is important to get the right renter. Tenant screening reports do not take a lot of time. They are a thorough report of an individual’s potential to being a great renter for the property. A property manager would do well to take the time to get a report before allowing anyone to move into the property.

Tenant screening is affordable and it is almost like getting insurance. You don’t need it until you wish you had it.

The first step is to take applications from would be renters and looking them over. Call any references that have been given. Narrow down the potential renters. Finally, get tenant screening report. A property owner is protecting their investment by getting a tenant screening report on anyone that may be moving into their property. It is a wise move and could potentially save thousands of dollars down the line.