High Risk Tenants: Tips to Help You Win the Fraud Rental Game - Mackoul Risk Solutions | Condominium and Co-op Insurance on Long Island, NY Skip to main content

High Risk Tenants: Tips to Help You Win the Fraud Rental Game

By October 29, 2014 April 15th, 2018 Business Protection

There are no guarantees when it comes to the future quality of a tenant. However, there are several key metrics that will help you decide what kind of tenant they will be.

The most successful tenant screening strategy is to use multiple reports so that you see the prospective tenant from many different sources. Often, it’s an inconsistency between reports or the rental application that flags a potential problem.

  • Have them fill out a rental application in its entirety.
  • Include questions asking for current and previous employer information, income level, bank information, credit card information, references and previous landlord contact information.
  • Always purchase a credit check. Review the prospective tenant’s credit history and look for signs of non-payment of rent and any accounts in collections.
  • A background check will give you a comprehensive report of the tenant’s past. There are various companies that will provide you with eviction history, criminal history and various public records. Usually, you can order these reports using the tenant’s social security number.
  • Contact all of their references and employers to make sure the information the applicant provided is accurate.
  • Use your instincts and try to get a feel for the tenant, and then back those instincts up with some hard facts from the tenant’s credit report and background information.

Give us a call at (516) 431-9100 to discuss choosing the right coverage to protect your organization.