Due Diligence

Due Diligence is described in the dictionary as "the care that a prudent person might be expected to exercise in the examination and evaluation of risks affecting a business transaction." In other words, it is up to a landlord to do his or her own Due Diligence before renting to a prospective tenant.

Due Diligence on the part of a landlord can be comprised of a few different things. Landlords will almost always run a credit check on the tenant to make sure they pay their bills on time. They will also run a background and eviction check for that extra bit of Due Diligence.

These days, it's more critical than ever before to figure out exactly who is wanting to rent your property. It's easy to understand why landlords would skip doing background checks. The longer their property is vacant, the more money it's costing them, and doing background checks on a renter is more money. It's certainly much cheaper and easier to go by a 'gut feeling' on whether their applicant is a good person.

But it's cheap insurance to run these reports. A bad tenant can cost more than just a few headaches, they can cost an enormous amount of money. Yo only have to imagine a trashed property to see how much money it can really cost.

If you are a landlord you should do your Background Check at YouCheckCredit.com so you don't end up with a tenant that doesn't pay the rent or possibly is a drug dealer in disguise.

I want to do my Due Diligence NOW!