Pricing and Costs of Tenant Screening

Use tenant screening services to find the right renters for your properties

When you own or manage residential properties, it is vital to have a tenant screening service in place to check out potential tenants. While many managers already use tools such, as a rental history report, renters credit check and other documents to determine if the tenant is an acceptable risk, tenant screening services can do all that and more with just one simple account.

The pricing and costs of tenant screening depend on the extent of the services you would like to include. Some of the checks included with a tenant screening service include:

1. Getting a tenant background check.

2. A credit history report.

3. Rental history of the tenant applying for the apartment.

 

Start with tenant credit checks to gather information

Many landlords and property owners looking for new tenants will begin with a credit check because it gives the leaser plenty of financial information. With a credit check, you can find out how tenants pays bills, whether they pay late, and whether they have a lot of outstanding debt. A tenant credit check costs $10 to $20 per report.
Try: Citi Credit Bureau provides tenant credit checks that can be done completely online without signing up for additional memberships or services. Simple Screening provides a comprehensive credit check in addition to other tenant services, such as eviction searches and criminal reports.

Save money by getting a single rental background check

Tenant screening services can provide you with a large amount of information on a single tenant. But if you only need to know specific information, getting either a background check or credit check might be all that's necessary. Simple rental background checks only cost $14 to $45 per person.
Try: Background Check Systems is another company that can provide tenant background checks, and also offers additional information that a simple credit report cannot always provide. TenantChecker.com offers criminal, financial and eviction information with its background checks.

Choose a full online tenant screening package to get the most comprehensive information

If you want to know everything about your tenants before you let them rent from you, a full service tenant screening package can provide you with basic information, plus criminal and credit checks. These packages typically cost $45 to $175, depending on the type of information provided.
Try: American Tenant Screening offers many packages that cover a range of information, including credit checks, background checks and more. E-Renter offers affordable options for individual landlords as well as having commercial accounts available.

 

• A renter credit check is not only useful for finding out whether prospective tenants can pay their bills on time, but it is also useful for finding out if tenants can really afford the amount of rent you charge. Make sure you use a rental credit check carefully, to understand a tenant's financial capabilities.

Copyright © 2011 Business.com, Inc. All Rights Reserved.

---