When you make the decision to rent out your property, you become a landlord and property manager of your own business even though it is only one property. When running your rental business, you should treat it as a business and use other professional tools and services to help your business succeed. A failing rental business can cost you thousands of dollars in lost rent, repairs, and eviction costs when you rent to the wrong tenant and put you at risk of losing the property and your personal credit. Here are some professional services you should consider when you become a landlord and rent out your property.
Background and Credit Check
One of the most important services you should use as a property manager for your rental home is to screen any new tenants with a background and credit check before you let them move in. Once they are moved in, and you discover they are not the right type of tenant you want, it can be very difficult, expensive, and time-consuming to remove them from your property. Depending on the state you live in the tenant protection laws vary, and it can take many months for an eviction to be completed.
As long as you take a proper application from your new tenants, you will have their authorization to request their credit report, which shows any collections and unpaid bills, and a criminal background check. A criminal background check will list of their criminal records and history, such as any speeding tickets they have or any time served for their history. You can request criminal background and credit check with a background check services company for a small fee, which would be covered by your tenant's application fee.
When you own a rental property you are actively renting out, your property will succumb to many types of damage and break-downs of appliances and home systems that will need to be handled. Unless you have the knowledge and tools yourself of completing these repairs, you will want to hire a professional handyman to handle these repairs for you.
After you find an individual trained in areas, such as HVAC, drywall, electrical, and other areas, you will have the person you need to handle a majority of your property's maintenance. When a tenant moves out of your unit, your handyman will be able to repair and replace any essential items within the home to get it ready for your next tenants.
For more information, contact your local criminal background check solutions.