Tenant Checking Service?

[rsk]

Hi group

Does anyone know any good Tenant verification conmapy who can do credit checks, criminal checks and stuff like thta. I am planning to rent the my unit out and have a prospective renter who i wish to check out. Any help is appreciated.

thanks
rsk

 

[Admiral Beez]

I've heard these guys being advertised on the radio, http://www.landlordsinfo.com/

I wish I'd used them. When we moved to Fredericton from 2004 to 2007 we rented the Cabbagetown house to a "friend". Well, turned out he was a bi-polar manic depressive who rarely paid his rent (which we'd kept at well under half of market rental because we wanted more of a housesitter than a tenant), sent NSF cheques, damaged our house, threatened to kill himself in my house, and declared bankruptcy. In the end I lost about $3,000, plus lost market value rent.

Never rent to friends or family, and if you do, treat them like tenants and always do your homework.

 

[Dichotomy]

Good luck with that.
I rented the basement apartment of my house to an employee that had worked for me for 4 years and the upstairs to a single woman with one kid. I interviewed a dozen prospects. She managed a small business in town. She seemed so nice.
I made the fatal flaw of including the utilities. Within 6 months my gas and hydro bill had doubled. DOUBLED. The downstairs tenant had the door wide open (with only the outer glass door closed) in the middle of January when I dropped by. It was 26 degrees in their apartment. Oh, the digital thermostat (which I had installed for them) wasn't working properly, they moaned. I had to recarpet the entire apartment when they moved out because their dog had destroyed it. The upstairs tenant ended up taking in boarders. I bent over backwards for these people: putting in a new tub surround, new windows in the back bedrooms because they were 'drafty.' It was never ending. The neighbors complained about the dog barking in the yard.
It was a nightmare. I had to sell the house. I was losing my shirt.

 

[Chuck]

You might be able to get a free credit report for the applicant from one of the Credit reporting bureaus such as Equifax, Trans Union, and there's at least one more that I can't remember. The application form that the tenant fills out should provide you with enough information to get the report, and must include a check box where the applicant authorizes you to obtain a credit report. The free credit report tells you everything except for the person's actual FICO score.

The credit report will list all active accounts in which the person has been offered credit, such as mortgage, credit cards, and loans. It will tell you how long these accounts have been open, and whether or not the person pays their bills on time. If the person claimed bankruptcy in the past 7 years, this will also be shown. Based on all of that information, you can decide for yourself whether you want to take them on - from a FINANCIAL point of view.