Verifying employment is important to employers because it provides information about a potential new hire.
Well, employment verification is equally important to property owners because it confirms whether a potential tenant has the financial means to pay rent as well as the character to be a good tenant.
Verifying Employment Confirms Honesty
Most employers will not provide much information about a current or past employee. However, they typically will verify that someone is currently employed and their dates of employment.
Rental applications that request potential tenants to supply the name of their current and past employers along with dates of employment allow property owners to confirm the accuracy of the information, thereby confirming the honesty of the potential tenant.
However, it’s not enough just to call the phone number provided. Anyone can answer a phone.
Employment verifications require property owners to conduct a much more in-depth review of a potential tenant’s employment. For this reason, it’s better to have an expert such as TruDiligence handle the legwork. Then you’ll know you’re getting true and accurate information.
Employment Check Confirms Stability
One of the primary reasons for conducting employment verifications is to confirm someone’s stability—not just in their job, but in general.
Yes, the economy has been tough over the last few years, so you may find that stability is a subjective word. However, finding out length of employment and the reason for termination can shed light on whether they are a good risk to be a tenant.
Of course, employment verifications are only part of the process when looking for a suitable tenant. As well as verifying employment status and current income, property owners should speak with previous landlords to find out the tenant’s rental history.
To avoid having to do all the work yourself and to ensure you comply with fair housing laws, consider getting professional help instead. If you are in the process of screening tenants for your rental property, TruDiligence can ensure you do it right. Contact us to find out more.