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Landlords: Always Conduct a Background Check on your Tenants

Posted by: In: Real Estate 03 Apr 2014 Comments: 0 Tags: ,

No landlord would ever want to deal with tenants who don’t pay their rent. But with the global economic meltdown, as well as, a general increase in the tendency to default on rent payment, it has become more important than ever to make a background check on renters. Based on a recent survey, the number of extreme cases of rent arrears in 2013 alone reached over 94,000 which was 5% more compared to the figures in 2012.

The Emergence of ‘Professional’ Bad Tenants

With the population of new property owners increasing globally, there has also been a proportional increase in the number of ‘professional bad tenants’. The tenants who somehow managed to convince property owners to lease the place to them and later refuse to pay rent after a certain period, have been termed to be ‘professional bad tenants’.

Usually this sort of tenants seek owners who are new to the market. These new property owners often don’t hire professional renting agencies to handle the leasing to save money. Yet, they also don’t want their properties to remain empty. Hence out of desperation, such owners fall prey to professional bad tenants. These would-be tenants are willing to pay two or three …read more

Source: Realtybiznews



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