How To Conduct a Commercial Tenant Screening

There are a few important things to consider before choosing a tenant for your commercial space. First, you need to be sure that the tenant will be occupying the space for a long time. Checking a tenant’s credit report can help you determine their financial background. You can find out if they have filed for bankruptcy or have liens against their name. It also helps you verify the legitimacy of the business. If the tenant is new, however, it might not be possible to obtain a credit report. If this is the case, you can use the principal of the business to see if the business has any financial problems.

Tenant Screening Center was established in 1985 and has been paving the way for the tenant screening industry ever since. They are the first listing in The Landlord’s Handbook for good reason — their reputation precedes them as they do business throughout the United States. Their name is synonymous with experience, excellence and integrity.

TransUnion’s SmartMove

TransUnion’s SmartMove commercial tenants screening service can help landlords reduce the risk of bad tenants moving into their property. While this service can be costly, it provides reliable reports. Furthermore, it offers benefits to tenants who pass the screening.

RentSpree

RentSpree offers a comprehensive online rental application process that allows you to conduct a thorough background check on potential renters. This online service allows you to input applicant information using your phone, tablet, or laptop. Then, it sends out an email containing a customized link. After a few minutes, the applicant will input their information and you will be provided with a comprehensive report. The service is free for landlords and agents.

MyRental

MyRental is a free tool that can be used by landlords to screen prospective tenants. It uses credit scoring services provided by TransUnion, which can help determine if a tenant is a good fit for the property. It also offers a risk score, which is an estimate of the tenant’s likelihood of defaulting on the lease. It can also offer other information, such as payment plan data, to help landlords determine which tenants are the best fits for their properties. The app also comes with a denial letter generator, so landlords can send denial letters to tenants with ease.

TransUnion

TransUnion offers a tenant screening service to landlords that’s completely paperless. Using their “SmartMove” application, renters and tenants can “push” their credit reports directly to a landlord.

Rental History Reports

One of the best ways to check if a prospective tenant will be a good fit for your property is to obtain a Rental History Report. These reports show the landlord if a tenant has a past history of making payments on time and if they will be able to adhere to the terms of a rental agreement. However, there are a few risks associated with renting to someone who has no rental history.