There is risk associated with everything we do in life.  We should look at Risk in the way that we don’t manage risks so we can have No risk, rather we try manage risks so we know which risks are worth taking and have the potential for the best outcome.  Consistently doing background checks may help to Reduce Risk, in addition to your due diligence. 

To avoid liability, owners and property managers carefully and consistently should screen prospective tenants and employees for criminal backgrounds. This is important for the protection of other tenants, customers and other employees. Wrongful or negligent evictions , discrimination claims (e.g., tenant claims some type of discrimination) are just a couple of law suits that a background check may help you avoid.
Generally, the more sensitive a position is, the more important it is to perform an adequate background check. Property managers also must comply with two federal laws: the Fair Housing Act and the Americans with Disabilities Act. These laws prohibit discrimination and address construction standards in commercial properties. Under the FHA, property owners cannot discriminate against tenants based on race, religion, color, gender, national origin, familial status, or disability. Property managers must obey these laws even if the owner gives written instructions to the contrary. Possible violations can occur in property advertisements and tenant screenings.