landlords - credit and background checks... and insurance

I was hoping some of the landlords here could help me out with a couple of questions:

1. What service do you use to get credit checks on your potential tenants? (A release to obtain this information will be signed first.)

2. What is the approximate cost of the credit check?

3. Do you have criminal background checks conducted? (Can you require one as a landlord?)

4. If yes to #3, what company do you use and what is the approximate cost?

5. If you are renting out a single-family home, do you still maintain your own homeowner's insurance policy, in addition to your tenant's renters insurance? I assume renter's insurance only covers their possessions / belongings, but doesn't actually insure the property / house. Correct? If so, then do you have your own policy for homeowner's insurance? Does it go up if you let them know you are renting out your home?

Thanks!

FWIW, this is a property in NY.

Re: landlords - credit and background checks... and insurance

Have you checked mrlandlord.com ???

Tons of info there. I think they have a credit check service there as well that is supposedly reasonably priced.

Re: landlords - credit and background checks... and insurance

yes you keep your homeowners

renters insurace is optional - and only covers clothing, funiture and that kind of stuff

if you use a real estate agent- they will take care of running the credit check and there is no cost to you- the tennant pays the fee

plus the agent will weed out people for you...let me know if you have anymore questions

Re: landlords - credit and background checks... and insurance

Personally I would use an agent. They weed out, do background checks and credit checks. You keep your home owners. The renters if for them to decide to get or not. It's optional. Yours should not be.

We have lucked out with our second renter, but the first... another story. So in my personal experience get an agent.

Re: landlords - credit and background checks... and insurance

Make sure your policy is not a regular homeowners policy and that it is a dwelling fire policy. If you are not residing in the home, it has to be written as a dwelling fire...