DIY Landlords Putting Neighborhoods at Risk, So Says Real Property Management Survey!
SARASOTA — Do-it-yourself (DIY) landlords, people that manage their investment properties without the assistance of a professional property management company, are likely putting neighborhoods at risk, according to a survey on landlord practices conducted by independent research firm Liminality, Inc. on behalf of Real Property Management.
The survey of more than 150 DIY landlords nationwide revealed that DIY landlords mostly have lenient, or non-existent policies regarding background checks, which suggests that criminals – including sex offenders – may be living next door.
The survey showed that 21% of DIY landlords either sometimes, or never, conduct background checks on prospective tenants. It also revealed several troubling facts:
- Only 44% conduct sex offender check.
- Only 51% conduct criminal background check.
- 23% sometimes or never conduct credit check.
- Only 51% contact past landlords for references.
You might be asking how landlords not conducting background checks can have a negative impact on neighborhoods? The truth is that without thorough screening, past criminals – those same people who are most likely to commit crimes in the future – can easily move in next door, potentially putting families at risk. To illustrate the point, a study by The Bureau of Justice Statistics published in 2014 found that 76.6% of tracked criminals were re-arrested within five years.
In comparison, Real Property Management of Sarasota & Manatee has policies in place to conduct rigorous background screenings on behalf of their property-owning customers, which includes credit, employment, eviction history, criminal, and sexual offender checks.
“We were very surprised to learn that many DIY landlords lack the discipline to routinely conduct background checks,” said Real Property Management of Sarasota & Manatee's John Michailidis. “Not only are they risking their equity in their properties, but they could also be compromising the safety of neighbors. The bottom line is that if DIY landlords don’t screen tenants, they would be well advised to consult a professional property manager who can do it for them.”
For more information on the benefits of professional property management, visit: www.rpmSaraMana.com.
About Real Property Management of Sarasota & Manatee
Real Property Management of Sarasota & Manatee is the local affiliate office of the greater company, Real Property Management, Inc. Real Property Management is the largest residential property manager in the world having 250+ offices in the U.S. and Canada, and over 60,000 units under management. Real Property Management of Sarasota & Manatee works with the owners of condominium units, single family homes, duplex/multiplex units, and apartment complexes in: Sarasota, Bradenton, Venice, Lakewood Ranch, Siesta Key, Longboat Key, Osprey, Nokomis, Parrish, Ellenton, North Port, Englewood, and Palmetto, FL. Call us at 941-225-8183