As a landlord, you know how important tenant screening is. A Contemporary Information Corporation, or CIC, background check is one of the most thorough ways to vet tenants.
Background checks provide peace of mind and more. After a background check, you'll feel more confident leasing one of your most important assets. From credit history to criminal background reports, this guide will cover everything you need to know about tenant screening.
What is a CIC Background Check?
A CIC background check is a credit report that includes information on your credit history and criminal record. This is used on tenant applications to determine whether you're a good tenant. A background check shows how responsible you are with money and if there's anything in your past that could indicate that you might not be trustworthy.
CIC refers to a system set up by the federal government so that all companies can share data about their customers or tenants without violating privacy laws. Property managers, landlords, and banks use CIC background checks to get the most thorough financial and criminal history from a tenant.
CIC Background Checks Provide Criminal Records
It's essential to see more than just a credit report when screening a tenant. You want to also make sure you know their criminal history. A CIC report includes information such as arrests that did not result in a conviction. It also provides felony and misdemeanor charges.
What makes a CIC report different from other screenings is that you can see not only their credit history but also their rental and criminal history.
The Importance of Credit History
One of the most important parts of tenant screening is looking at credit history. As a landlord, you'll want to see your tenant pays their bills on time and doesn't miss payments. This indicates that they will also pay their rent on time.
Credit history shows if a tenant has a pattern of missing payments or paying late. You can also see how much debt they have. This helps tell you if they can afford monthly rent on your home.
See Prior Rent and Eviction History
The tenant screening process also includes showing prior rent and eviction history. This helps you see if your potential tenant paid their rent on time. You can also see if they have ever been evicted.
When you're a landlord, you want to know you can trust your tenant to pay rent on time. You need peace of mind that you're getting paid when you need to. This is what makes a background check so important.
Speak to a Property Manager About a CIC Background Check Today
We hope this guide has helped you understand the importance of a CIC background check and its benefits for tenant screening. It's a great way to ensure that your potential renters are safe, responsible individuals who will pay their rent on time every month.
If you're interested in learning more about professional tenant screening and property management, fill out the contact form here. Let us handle the stress of screening tenants and managing your property.