Coeur D’Alene Property Management Company is committed to assisting clients reduce risk and recent research is an eye-opener.
Entire neighborhoods are at risk when do-it-yourself (DIY) landlords take on the leasing responsibility without the proper checks in place.
A recent survey was conducted by Liminality, Inc., an independent research firm, on behalf of the nationwide property management firm. Based on a survey of 150 DIY landlords, the study revealed that typically self-managing landlords tend to be more lax with background checks—if they conduct them at all. This results in higher number of criminals in rentals, including those who may pose a threat to neighbors.
In fact, 21% of those surveyed said that they “sometimes or never” screen their prospects with background checks. These DIY landlords also reported these troubling patterns:
- Only 44% check for a previous sex offender
- Only 51% pull a criminal background check
- 23% “sometimes or never” require credit checks
- Only 51% call previous rental references
Why are background checks such an important part of Coeur D’Alene Property Management?
Those with a criminal background have a higher risk of committing future crimes, which puts neighbors at risk. The Bureau of Justice reported in 2014 that 76.6% of prisoners released in 2005 were re-arrested within five years. A criminal background check helps reduce risk for both the landlord and the surrounding neighborhood.
Real Property Management Coeur D’Alene are rigorous in their background screenings for this very reason. Strict policies are in place to ensure all tenants complete a thorough application and consent to a full background check, including credit history, employment, previous rental history, and criminal and sex offender checks. These checks are conducted in strict compliance with local, state and federal regulations.
“We are very surprised to learn many DIY landlords are not disciplined enough to routinely conduct background checks, said Real Property Management Coeur D’Alene.” “Not only are they risking an expensive investment in their property, but they could also compromise the wellbeing of their neighbors. The bottom line is if DIY landlords don’t have the time or resources to screen tenants, they should consult a Coeur D’Alene property management company that can do it for them.”
Your Real Property Management Coeur D’Alene team includes thorough and routine tenant screening qualification as just one of many aspects of our complete leasing process. The goal is to reduce risk for the property owner while minimizing costs and maximizing cash flow on your rental property. If you have questions about conducting more thorough background checks on your prospective tenants, contact us at (208)231-1964.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.