With the cost of home ownership on the rise families are renovating their homes to create an income suite. An income suite is basically an apartment within a single family home. Landlords can only rent such a unit if it passes certain permit requirements and has a living room, bathroom, bedroom, kitchen, and storage all within a self-contained apartment area. Income suites could be the next evolution in renting as purchasing a second home to rent out becomes prohibitive.
It is very important for these families choosing to convert part of their home into an income suite to conduct a very thorough tenant background check on prospective renters for a few reasons. First the family will be living in the same building as the tenants and to protect the landlords family and investment running a criminal background check, credit check, eviction search, social security number validation and sex offender search are a few ways to protect investment and avoid renting to a bad tenant or even a felon or someone with malfeasant tendencies.
With tenants living in the same home as the landlord family personal safety is of upmost concern and even more so than financial concerns. Looking into credit information and reviewing eviction records help to determine the financial risk associated with leasing to a tenant but only a criminal background check can uncover if the tenant or tenants have been convicted of a serious crime or are a registered sex offender. For new landlords looking to rent an income suite the costs for performing such an extensive tenant check may seem expensive. However, when you apply the risk of letting in a bad tenant than the cost of a thorough tenant screening becomes minimal. To learn more about the emergence of income suites and the importance of these new landlords to work with a professional third-party tenant screening company for thorough tenant background check reports read recent TenantScreeningUSA.com press release: http://tenantscreeningusa.com/tenant-screening-news/income-suites-an-emerging-trend-in-canada-that-could-make-its-way-to-the-usa-just-dont-forget-the-tenant-check/