The tenant credit check – an essential for all landlords
As a landlord, you go to great lengths to ensure your property is suitable for your tenants. But how much investment do you make to ensure that your tenants are fit for your property? If you want to have the peace of mind that comes from renting or leasing to financially responsible tenants, invest in a First Capitol Tenant Credit Check today.
A pre-emptive investment
There’s nothing worse than a tenant who is unwilling or unable to make their payments to you. Ultimately it will mean getting help from doorstop recovery agents to instigate doorstep collections. This is something that no landlord ever wants to have to do – it’s an investment you don’t want to have to make when you’re already out of the money you’re owed from rent. This is why a credit check makes so much sense.
What is a tenant credit check?
It, as the name implies, will give you an overview of your prospective or current tenant’s recent financial history, going back roughly six years. This will allow you to see if they have any records of unpaid debts, any financially-related convictions, or any current property arrears.
This will allow you to make a more informed choice about who you allow to take up residence in your property. The check can be done very quickly, but you must seek written approval from the tenant first. This can be a good test in itself – if they don’t want you to run a check on them, you have to wonder what they’re hiding.
Not just for prospective tenants
The First Capitol Tenant Credit Check is also useful for pre-existing tenants. If you already have a tenant in your property, you can use the information gathered to form a better picture of who you’re dealing with.
In the event that you find some troubling details in the check, you can then liaise with First Capitol further to get further help, advice, and guidance as to your next move.
Reach out today
If you have a prospective or current tenant and you would like detailed information about their recent financial history, contact First Capitol today.