Tenant Screening – Tips to Lower Risk
Tenant screening is important for property owners to maintain the security and reputation of their property. A lot of criminal cases occur involving rented properties and these cases can ultimately tarnish the reputation and potentially reduce the rental price of a property. Examples of these cases are drug transactions in a rented house or fraud conducted by tenants in a shopping mall. In addition, there are many cases where tenants fail to fulfill their rental obligations.
To reduce such risks, property owners need to conduct a thorough background screening on their prospective tenants. Part of this screening is the verification of KTP / passport, and company certificates, checking collectability or the tenants’ ability to manage their debts through credit scoring and bankruptcy check.
A prospective tenant’s reputation is also extremely important. Examination on a tenant’s reputation can be conducted through criminal checks, financial regulatory checks, comprehensive media search, and interviews with their previous property owners and neighbors.
Of course, these checks can be tailored to the needs of property owners.
If you have been made aware through a background screening that a potential tenant has been or is involved in legal matters, has a history of being kicked out by previous property owners, and evaded rental obligations, you may want to reconsider their application for leases.
Integrity Asia has a comprehensive system in place to assist you in screening and conducting background checks on your potential tenants.