Finding a new apartment isn’t always easy. Since property management companies have to look out for their clients (the property owners), the application process is often quite thorough. In addition to verifying your employment information and checking your credit score, they may also conduct a background check on each applicant.
Why Do Property Management Companies Conduct Background Checks?
Most property management companies conduct background checks to help ensure a prospective tenant won’t pose unnecessary risks. They want to ensure the new tenant isn’t likely to harass or commit crimes against other tenants, or toward neighbors living near the apartment complex. Since someone with a criminal record for theft or violence may be more likely to commit crimes on the premises or damage the property, they’ll want to take the necessary precautions in advance.
Running a criminal background check also helps mitigate the liability placed upon the asset management company overseeing the apartment’s operations. If a dispute arises between tenants, the property managers can extricate themselves from the issue by presenting the background check as proof that they had no reason to presume either party was a risk.
What Do Landlords Look for in a Background Check?
While a background check has become a standard part of applying to rent an apartment, the average prospective tenant is still unaware of what is involved in this process. Most people aren’t aware that there are several factors that a landlord can consider when reviewing a background check. This type of report will provide the rental property management company with information about the applicant’s criminal history. This will only include misdemeanor and felony convictions but will not show arrests or other interactions with law enforcement.
A thorough background check will also provide information about the applicant’s rental and credit history. It will show evictions, bankruptcies, and any past due accounts. This includes showing any incidences in which you may not have settled up with a previous landlord. The background check will also help the landlord verify any information you provided about your employment history and income. By checking your credit and rental history, a property manager or property owner can determine how much of a risk you pose in terms of getting rent paid on time.
Galvin Realty Group Inc. helps commercial property owners manage their properties. This invaluable service can help free up time for real estate investors, while also providing the services you need to keep your property generating optimum profits. From finding quality tenants to ensuring that day-to-day property management is handled as cost-effectively as possible, they can make it easier for you to manage your commercial investments. Call (585) 546-1290 to learn more about their services.