News & Resources

Background checks on tenants are becoming more thorough

Oct 04, 2012 Quinn Thomas

The global housing market has finally started to pick up some steam in recent months, but the price for renting has been outpacing that of home sales, creating a sort of landlord's market. Rather than focus on selling, some owners have opted for renting out their apartment or home while they focus on a second property or start renting elsewhere. In Boston, for example, the average monthly rent jumped by more than 7 percent this year compared to 2011, according to Rental Beast, and it appears that prices are continuing to spiral upward. This may not be welcome news for tenants, but landlords are greeting the information with enthusiasm. But as more landlords enter the market, it becomes important to investigate the use of background checks including consumer credit reports and alternative financial information. Thorough information on each tenant can be important, particularly because responsibility for the new occupants often rests with the landlord. There have also been an increase in laws passed to limit loud noises and "disorderly premises," according to Globe Gazette. While rent may be skyrocketing, landlords still do not want to find themselves in a bad situation simply because they weren't thorough.