Pretty much every Renter in the world knows that when you go to rent a new home or apartment - the landlord will run a background check on you.  

They want to make sure the new tenant will pay their rent on time.

A typical new renter; will have their credit checked, a call to their past landlords and maybe a quick criminal background check.  

But who is checking the landlords?

This week a colleague of mine met some new renters at a property he had listed by his clients; an owner of a lovely home in Maryland.  The tenants had applied; been accepted; and were meeting the agent to get their keys and move in.  

The new renters showed up; complete with moving truck and then the shock by EVERYONE involved.

The Bank had Foreclosed on the home.  The agent was shocked!  Calls to his clients - the owners who were just foreclosed upon went unanswered. The new tenants; homeless.  All of their things in a big truck with nowhere to go.

So then; who is going to check the owners/landlords?  The Realtors, if there is one - don't know the home is in foreclosure.  The owners sure are not going to tell them!

Can you imagine a tenant asking the landlord for a copy of his credit report or a call from his bank to make sure his payments are up-to-date?

WELL MAYBE IT'S TIME for this ?!

How does a renter protect themselves from a landlord who isn't paying his mortgage?  Unless they are living in the home and sees some Pre-Foreclosure notice delivered in the mail - how would they ever know until it's too late?

Someone needs to look out for the Renters - But who?  How?

Well if every tenant insisted on a landlord background check - landlords would have no choice.  However; it would only work if everyone does it; otherwise the landlord will just wait for the next applicant to come along.

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016