A Housing Matters survey in 2022 revealed that the vast majority of landlords conduct thorough tenant screening, which includes criminal background checks.
As a landlord in Palmetto, FL, you might be wondering whether it's really necessary to worry about someone's criminal history. As long as a renter is capable of paying the rent on time and doesn't have a history of being an unreliable tenant, why not let them live on your property?
Well, if you're thinking like this, you're probably a first-time or accidental landlord. Conducting a tenant criminal background check is a vital part of the tenant screening process. Discover why you must not ignore it below.
1. Enhancing Community Safety
A safe and secure community is key to the success of your rental business. Your renters want to live in a community where they feel safe and won't hesitate to move out as soon as they feel the place is becoming unsafe.
Landlords have a big role to play in enhancing community safety - don't just leave it to law enforcement. One way to play your role is by doing rental background screening, including criminal background checks.
If you check a rental applicant's publicly available criminal records and find that they're, for instance, a sex offender, you have sufficient grounds to believe that they will put community safety at risk if they are accepted as a tenant. Other tenants/community residents won't be pleased to learn that a sex offender is living among them.
2. Protect Your Property
The median price of a single-family home in Florida is about $409,000. Whether your property is an apartment or a multi-family complex, you've certainly made a huge financial investment. It's in your best interest to do what you can to protect the asset to ensure its longevity as an income-generating asset.
Doing a criminal history check goes a long way in ensuring rental property protection. People with a history of physical violence, for example, can be a danger to your property. Picture a tenant going on a rampage and destroying your property in the process, causing big financial losses.
Although you can have rental property coverage for such instances, prevention is better than cure. Keeping people with certain criminal behaviors off your property is an effective preventive measure.
3. Reduce Eviction Risks
Tenant evictions, even when smooth, come with certain costs and inconveniences. Finding a new tenant can take time, and tenant screening and property marketing processes will increase your operating costs. In the worst-case scenario, an eviction can take several months to conclude.
A tenant vetting process that includes criminal background checks helps reduce the risk of eviction. Renters with certain criminal records can't be counted on, as their risk of committing a crime on your property or going to jail is higher than average. Either instance can leave you needing to pursue an eviction.
Don't Overlook a Tenant Criminal Background Check
Doing a tenant criminal background check might seem unnecessary, especially if you're trying to fill up your Palmetto property quickly. But as this article has demonstrated, these checks are vital.
If you don't have the time or expertise to do it, the experts at PMI Elite Properties can help. We are a full-service real estate management company specializing in residential property management in Palmetto, FL.
Get in touch with us today.
