Choosing a screening service to issue a business tenant credit report as part of the application process for your commercial property is an excellent way to ensure you’re selecting reliable tenants. Property managers have access to a variety of services that help them select the best renters for their clients’ business properties, from storefronts to office space. With a commercial tenant credit screening, you can ensure you’re working with tenants with good credit, a history of making payments on time, and solid financial standing.
Tenant screening is one of the best ways to protect your business and your clients’ businesses. There are a range of options available, from credit pass/fail checks to eviction history, criminal background check, and more. A business tenant credit report reveals a great deal about a prospective tenant’s business history and whether they’re a good fit for a particular space. They may be growing and looking to expand their business, or they may be downsizing. Perhaps they’re opening up a second location, or they’re a brand new company renting their first office space. Whatever the situation, commercial tenant credit screening gives you important insight about their financial history and payment habits. Property managers who are experienced in commercial property management know that there are certain factors to look for in a credit report and how to read between the lines. A previous business closing is not necessarily a condemnation, while good business financials do not necessarily mean a tenant is good at paying rent on time. All of these elements should be considered when considering applicants.
For more information about obtaining a business tenant credit report or any of our other screening services available to property managers and landlords, please reach out to Tenant Screening Center, Inc. by calling 1-800-523-2381 or filling out our online contact form. We also frequently update our blog with tips and advice for finding the best tenants for your space.