SALT LAKE CITY - May 28, 2014 - (BUSINESS WIRE) - Do-it-yourself (DIY) landlords, individuals who manage their rental properties without assistance from property management companies, may be putting neighborhoods at risk, according to a survey on landlord practices conducted by independent research firm Liminality, Inc. on behalf of Real Property Management.
That’s because DIY landlords have lenient or non-existent policies when it comes to conducting background checks, the survey of a national probability sample of more than 150 DIY landlords nationwide revealed, which suggests criminals – including sex offenders – could be living next door.
The survey found that 21 percent of DIY landlords sometimes or never conduct background checks on their prospective tenants. The survey also revealed these disturbing findings about DIY landlords:
Why are background checks so important for neighborhoods? Without thorough screening, criminals – who are likely to commit crimes again in the future – can easily move in next door, potentially putting families at risk. Rates of recidivism, or the act of criminals committing another crime, are high, according to a study from The Bureau of Justice Statistics published in 2014 that tracked 404,638 prisoners from 30 states who were released from prison in 2005. That study found 76.6 percent of the tracked criminals were re-arrested within five years.
In comparison, Real Property Management, the nationwide leader in managing rental homes, has policies in place for franchise offices to conduct rigorous background screenings on behalf of their property-owning customers, which includes credit, employment, rental history, criminal and sexual offender checks. All franchise offices follow local and state rental regulations.
"We are very surprised to learn many DIY landlords are not disciplined enough to routinely conduct background checks," said Real Property Management President Don Lawby. "Not only are they risking an expensive investment in their property, but they could also compromise the well-being of their neighbors. The bottom line is if DIY landlords don’t have the time or resources to screen tenants, they should consult a property management company that can do it for them."
For more information on the benefits of professional property management or to find your local Real Property Management office visit: www.realpropertymgt.com.
Real Property Management is a privately held, Utah based corporation with over 25 years of experience providing full-service residential property management for investors and homeowners throughout the United States and Canada. For more information about Real Property Management, property management services or franchising opportunities, visit www.realpropertymgt.com.