General inforamtion about property management and do-it-yourself rentals.
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Screening Tenants & Fair Housing |
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Written by Editor
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Wednesday, 29 October 2008 12:54 |
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Check tenant's credit and avoid legal trouble over discrimination.
What's the best way for landlords to screen tenants?
Savvy landlords should ask all prospective tenants to fill out a written rental application that includes the following information:
- employment, income, and credit history
- Social Security and driver's license numbers
- past evictions or bankruptcies, and
- references.
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Last Updated on Thursday, 06 November 2008 17:34 |
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Top 10 Mistakes Landlords & Property Managers Make |
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Written by Editor
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Wednesday, 29 October 2008 08:19 |
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1. Failing to properly screen applications for credit, rental references, and income.
Owning residential rentals means being in business and the day to day operation should be run professionally. Proper screening of prospective renters is essential and involves having written standards that are both strict and reasonable and then following through on checking to see that those standards are met each and every time. Be certain to also verify the identity of your applicants prior to releasing possession.
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Last Updated on Wednesday, 29 October 2008 13:10 |
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More Mistakes to Avoid...
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Top 9 Residential Lease Clauses |
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Written by Editor
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Wednesday, 29 October 2008 08:43 |
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1. Provision for a late fee if rent is paid past due date.
Resident should pay a penalty for increased risk and inconvenience to owner Jurisdictions will allow some flexibility, but your late charge should relate to the expenses you incur (mortgage penalties) as a result of the rent being paid late.
2. Repair Policy.
Do not allow tenants to perform repairs and all requests for repairs should be in writing.
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Last Updated on Thursday, 06 November 2008 17:38 |
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Read more important clauses...
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Useful Information
