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Coeur d’Alene Property Management Dangers: The Risks of Neglecting Background Checks

Real Property Management is committed to providing excellent service from finding tenants to turn around.  Through a current research study conducted by Real Property Management we now know the necessity in doing a thorough and complete background check on future tenants.

When DIY (do-it-yourself) landlords take leasing responsibilities there effect reaches larger than just their property, they put neighborhoods at possible risk, so here is an effort to reduce this risk. 

A recent survey was conducted by Liminality, Inc., an independent research firm, on behalf of the nationwide property management firm. A survey made up of 150 DIY landlords revealed and confirmed that the typical self-managing landlords tend to be lax with background checks—if they conduct them at all. They may not have the education or resources in order to conduct a background check.  Renting out to potential criminals, which poses a threat to your property and the neighbors. 

In fact, 21% of those surveyed said that they “sometimes or never” conduct background checks on a prospective tenant. 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?

Having a criminal background although doesn’t guarantee future criminal activity the proven chances of the risk are increased, 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 will reduce risk for both the landlord and the surrounding neighborhood and put your mind at ease that your assets will be safe. 

Real Property Management Coeur d’Alene are rigorous and thorough in their background screenings for this very reason. In order for a future tenant to apply to a property they must go through an 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, so you can rest assured that we have done everything with in our power to get the information needed to ensure safety.

“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 well being of their neighbors. The bottom line of all of this is that 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.”

Here at Real Property Management Coeur d’Alene we have a professional team who conduct thorough 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) 215-3851.

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