What often comes to mind first when many people hear the term skip trace is the tracking down of an individual who has skipped out on a debt. But skip traces are valuable for many reasons beyond simply locating someone. They can also be used for information gathering and document retrieval. A skip trace can be used to identify the owner of a vacant property, for instance. And if there is a building you are interested in purchasing, a skip trace can be used to determine who holds the mortgage to that property.
Skip Traces for Landlords
Skip traces are especially beneficial to landlords. In some cases, a landlord might wish to track down an individual to collect on a debt. But in other situations the landlord can use a skip trace as part of the tenant screening process to retrieve or confirm information about a potential tenant. Consider the following benefits to landlords of using skip traces.
By using skip traces, landlords may obtain complete criminal histories of prospective tenants. They can verify places of employment for rental applicants. Landlords can use skip traces to identify tenant information discrepancies on rental applications. Skip traces can be used to locate former tenants who still owe past-due rent. In addition, skip traces can ascertain what other assets a tenant possesses for satisfying a debt.
Make Informed Decisions
Skip traces can be invaluable sources of information for landlords. The comprehensive background information in skip traces allows landlords to make more informed decisions about prospective tenants. Once the lease is signed and a tenant is given the key, it is extremely difficult to have that tenant removed if problems arise. But with the detailed report of a skip trace, a landlord can have confidence that the person they are renting to will be a reliable tenant.
The ideal tenant is one who pays the rent on time and respects the property they are renting. A skip trace is an excellent way to vet prospective tenants that makes it easier to identify the best potential renters.
