More than half of all landlords don’t conduct credit checks on their renters, according to a national study.
The Real Property Management franchise surveyed 290 landlords nationally in January for its research, which was carried out by the Boston firm Liminality, Inc.
The landlords were asked how often a series of activities were completed for their property – always, sometimes or never. Included were things that either the landlord did themselves or that a property manager or other third party did on their behalf. The survey uncovered the following information in the key areas of screening prospective residents:
55 percent of landlords report that they never or only sometimes require renter’s insurance.
About 57 percent of DIY landlords never or only sometimes conduct credit checks.
About one in four landlords don’t allow pets in their rentals. About 44 percent of DIY landlords responded that they “sometimes” allow pets.
More than a quarter of landlords reported that they do not use an enforceable lease that is legally compliant, covers important obligations and rights, and protects both the landlord and the tenant.
And 45 percent of DIY landlords do not always or never enforce sections of the lease, the study found.
Real Property Management said it is the leading property management franchise in the nation, with more than 300 offices in North America managing assets worth $13 billion.