While as a tenant, it's standard procedure for you to provide the landlord with references, work history, banking information, even your Social Security number, did you know that you also need to do your own background check before you hand over those personal information and signing the lease?
Yes, the necessity to screen your landlord is just as much as the landlord's need to make sure you are a suitable tenant.
Trulia lists these 4 ways to go about screening your property manager:
Check public records
You can get a lot of good stuff from doing a quick public-records search of an individual landlord or a corporation. Not only will you get loads of significant information about them, you will also get information about the property.
Look out for red flags that could suggest bankruptcy, general liens on all assets, criminal records, and any lawsuits.
Property records will reflect liens, whether a foreclosure is in progress, or any related legal matter specific to the property.
Find out when the building was purchased, by whom, and for what price by checking the tax records.
If a bankruptcy is on its way or the property management is underwater, your term of lease might be shorter than you think.
Consider complaints
Check previous renter complaints but be critical and make sure that the source is credible.
You can search the name of the building and take note of repeated complaints made over a period of months or years.
The Better Business Bureau, or the Chamber of Commerce, if you want to get old school, should help you get information about a property management company. If it is an individual landlord, Google could be a lot of help.
Talk with your neighbors
Who would have more firsthand experience with your potential landlord than your potential neighbors?
It would be good if you could talk to them and ask specific questions like frequency of rent increase, how repairs are handled, or how often the landlord is in the property.
If you can't find someone, don't hesitate to ask the landlord for references from former tenants.
Property appearance
Just by how the property looks, you can already get a good hold of what the landlord is like.
Is the property well-maintained? Aren't the paint jobs peeling off? Are there available extinguishers with updated inspection tags? A good landlord makes sure that the building meets safety as well as aesthetic standards.
When you checkout the rooms, observe whether the appliances are clean and in good working condition. This is the landlord's time to showcase the property to you, and if things aren't looking as they should, just imagine what would happen after you're months in the contract and something breaks down.
Be wise when entering a lease agreement. Both tenant and landlord should hold their end of the contract. And in order to save yourself from future headache, do your research upfront before signing the dotted line.
