Being a landlord and property owner in Bethesda, MD, can be a lucrative career choice, given that Maryland landlords earn an average of $84,709 yearly.
However, ensuring you achieve your rental property's maximum income potential also hinges on your tenants, particularly their quality and reliability. Without conducting a tenant criminal background check, you leave yourself and your property at risk.
To that end, the team of Bethesda property management experts at PMI Capital Region put together this guide. Read on for tips on how to conduct a thorough tenant screening and criminal background check process effectively and legally.
Tenant Criminal Background Check: Key Steps
Conducting a background check might seem daunting, but it becomes more feasible if you break it down into manageable steps. Here's a simple guide to ensure you cover all the bases and necessary renter verification steps.
Obtain a Written Consent
Always start by asking the prospective tenant for written permission to conduct the background check. It safeguards you legally and builds trust with your tenant. Most importantly, it helps ensure you comply with federal laws and regulations, such as the Fair Credit Reporting Act (FCRA).
Choose a Reliable Screening Service
In Bethesda, MD, various companies offer background checking services:
- Firms that explicitly provide criminal background vetting services
- Online rental platforms
- Full-service property management companies
If you wish to own and generate rental income hands-free, consider choosing a highly experienced and reputable property management firm in Bethesda, MD. They can handle the entire tenant screening process and the overall rental management on your behalf.
Review the Report
Once you receive the criminal background check report, take the time to review it carefully. Pay attention to any red flags indicating a pattern of risky behavior.
Make an Informed Decision
After factoring everything, decide whether or not to proceed with the rental agreement. Please ensure you consider each prospective tenant's rights according to the guidelines set by state law.
The Importance of a Tenant Criminal Background Check
Conducting a thorough criminal background check can help prevent serious issues, ensure a safer living environment for current tenants, and protect your property investment. Here are some essential reasons why this process is indispensable:
- Safety and Security: Knowing your tenant's criminal history can prevent potential threats to your property and community
- Financial Protection: Tenants with a history of financial irresponsibility may pose a risk of late payments or eviction
- Legal Compliance: Following fair housing laws helps mitigate the risk of discrimination claims
Ready to Find Quality and Reliable Tenants?
Running a tenant criminal background check should be part of your standard leasing process. By following the lease safety tips and screening steps we've shared, you can make safer, more informed rental decisions.
PMI Capital Region is happy to help with all your tenant screening and rental management needs. As a full-service property management firm, we can cover all the bases on your behalf, from pricing your property right to marketing it, securing quality tenants, collecting rent, and maintaining your rental. Our team comprises highly experienced real estate and property management professionals ready to make your Bethesda, MD, property profitable.
Call us today for a complimentary consultation and learn more about how we can help!
