Do you got a few cars on standby and you think it is time to get some business on them and earn extra cash? Today’s blog is what you needed to read!
Starting a car rental business means there are critical processes you need to go through. That includes doing a background check on your client, or your car’s new temporary owner or renter.
Basically, you can’t just conduct a background check on your renters on your own. It’s actually a simple thing to do. But you need to be very professional in doing this since there’s a proper procedure for doing this in your rental property business.
The correct process of conducting a background check on your soon-to-be clients properly depends on the rental laws in an area. If you’re new to rental property business, then this blog will give you an idea how property managers are doing it.
In this blog post, we will talk about how to do a background check on your renters. Following the right procedures will help you avoid any violations of the rental law and in implementing the car title loans to start a car rental business.
3 Ways to Background Check:
As the property manager, you need to know how to do a background check. This is an important aspect of a screening process that you can’t miss. Basically, you want to make sure that the money you got from your car title loans is in good hands by making sure you are doing the right thing in your car rental business.
Doing a background check can help you choose the right renters in your car rental business. make sure to follow this guide on how to do a background check.
1.Get Information about the Tenant
Before you do a background check, you need to get information about your client first. You can do this by requiring a potential client to fill up a rental application form.
The rental application form will get the client’s information such as:
- The client’s full name,
- Social security number,
- Date of birth,
- Contact information,
- Driver’s license number (REQUIRED),
- Current and previous addresses,
- Dates of residence,
- Contact information for current and former rental car property managers,
- Current income,
- Dates of current and past employment,
- The names and contact information of current and former employers,
- Banking and credit references for a credit check, and
- Contact information personal references.
The rental application form isn’t just used for getting information. It’s also used to ask the client’s permissions to conduct background and credit check on them.
The client’s written consent is needed because you can’t conduct any background or credit check without their approval.
2.Interview Them in Person
After completing the rental application form set a date to interview the tenant in person. Interviewing the tenant will give you an insight into how they behave personally.
You need to get comfortable with the tenant. You can do this by having a conversation and asking them several questions. To make your meet up a fruitful one, consider asking them a few questions including the following:
- Why are they renting?
- For how many hours/days will they be using the car?
- Do they have a driver or they need to have a service driver?
- Where are they heading?
- How many will be with them inside the car?
- Are there children with them?
3.Proceed with Tenant Screening Process
As an employer or property manager of your car rental, you need to make sure that you are with the right and reliable client. Or else, your car title loans, to put up such business will be put into waste.
The next step you need to do is to verify whether or not the prospective client is good. If they are, that means that their background report shouldn’t contain any negative items or any possible red flags.
After the background check, the next step in the screening process is the credit check. Just like the background check, the credit check will also provide detailed reports about the clients. But, the reports will be about their financial activities.
As the property manager, the goal of your tenant screening process must be to separate the good renters from the bad ones. Keep in mind that having a bad renter will only cause several problems. They can cause financial instability so make sure you make the most out of your business.