hi,
Which website do you use to do a background check on your renter ? is it reliable ? I used find.intelius before but it didnt have correct information …
If the renter has bad credit but his mom co-sign for him, should I get a copy of his mom SSN card and driver license ? is there anything else I should do ?
e-renter.com is one.
if the mom cosigns, run her credit, too. you can also do a background check (fraud convictions, theft, that sort of thing)
you will always get the best results from companies that charge.
I use National Tenant Network http://www.ntnonline.com/ it works really well for me. I charge an application fee which pays for this service. NTN will verify the credit criminal back ground as well as employment and even make a recommendation based on the rent and the perspective tenant’s income. I don’t do cosigners. If the person doesn’t qualify I move on to the next prospect. There are only 2 things that get real estate investors in trouble. They are greed and laziness. If you get so greedy that you will let a person in your property that does not qualify, that person at some point in time will become a problem for you. People don’t become problem tenants on you. They were problem tenants before you met them. The background checks will alert you to that fact. About co-signers, I ask why you check them out when you are going to let them in anyway. Momma can’t pay her rent and the kids also. It will become a problem.
Thanks for your great advices…You guys are the best!!