The urgent situation in the economy has opened the doorway to many life-changing situations especially in the real estate world.
For example, home ownership continues to deteriorate due to the economic downturn.
For this reason, the number of rental properties began to boom in the real estate industry.
For those who have the resources, this kind of business proves to be a good investment.
However, to make it into a success, as a homeowner or a landlord, you should be able to find good tenants to rent your property.
Screening good tenants saves you both time and money.
Spending a little time screening potential tenants can eventually save you hours and dollars.
Furthermore, tenant screening is easier than it was before.
Find out how to screen for good tenants here.
1.
Have a simple tenant application form that gets you all relevant information about the renter.
The form should include details of his or her full legal name, present address, social security number, employment, income and employer.
You should also inquire on the contact details of the employer.
The tenant should also provide you the reason why he or she prefers to move and ask for the name and contact details of the previous landlord.
2.
Verify the place of employment first before anything else.
You can take the name and the number of the company yourself and check out if your prospective renter is really working in such company.
3.
Do a tenant screening credit check.
Once you have verified the tenants' address and employment information, you can perform a credit check.
If you get a negative report or the identity do not match, refrain from renting your property to this tenant.
Give them a letter of explanation of the reasons for your rejection and encourage them to correct any erroneous information with the reporting agencies.
Some tenants have less than ideal credit reports.
You must decide on the level of credit that is required for you.
4.
Inquire from the current landlord certain questions such as any late rent and how many times this occurs.
You could also check if the tenant is characterized as a no maintenance, low or high maintenance.
You can check if they have caused damage to the rental property and the reasons why this happened.
Make sure to thank the landlord for his or her time in answering your queries.
5.
Ask your prospective tenant's present supervisor to verify the salary range the person currently makes with the company.
Information on any disciplinary issues regarding the person is also helpful.
6.
You can opt to go to various agencies to help your verification process to ensure they have clear records.
You may inquire from courthouses for any eviction record and secure police records to make sure that you are not dealing with a dangerous person.
Good tenants are valuable treasures to find.
Nevertheless, finding the right one could mean a productive real estate investment.
A good tenant screening practice helps minimize the cost of low tenant turnover and property damage to a minimum.
For example, home ownership continues to deteriorate due to the economic downturn.
For this reason, the number of rental properties began to boom in the real estate industry.
For those who have the resources, this kind of business proves to be a good investment.
However, to make it into a success, as a homeowner or a landlord, you should be able to find good tenants to rent your property.
Screening good tenants saves you both time and money.
Spending a little time screening potential tenants can eventually save you hours and dollars.
Furthermore, tenant screening is easier than it was before.
Find out how to screen for good tenants here.
1.
Have a simple tenant application form that gets you all relevant information about the renter.
The form should include details of his or her full legal name, present address, social security number, employment, income and employer.
You should also inquire on the contact details of the employer.
The tenant should also provide you the reason why he or she prefers to move and ask for the name and contact details of the previous landlord.
2.
Verify the place of employment first before anything else.
You can take the name and the number of the company yourself and check out if your prospective renter is really working in such company.
3.
Do a tenant screening credit check.
Once you have verified the tenants' address and employment information, you can perform a credit check.
If you get a negative report or the identity do not match, refrain from renting your property to this tenant.
Give them a letter of explanation of the reasons for your rejection and encourage them to correct any erroneous information with the reporting agencies.
Some tenants have less than ideal credit reports.
You must decide on the level of credit that is required for you.
4.
Inquire from the current landlord certain questions such as any late rent and how many times this occurs.
You could also check if the tenant is characterized as a no maintenance, low or high maintenance.
You can check if they have caused damage to the rental property and the reasons why this happened.
Make sure to thank the landlord for his or her time in answering your queries.
5.
Ask your prospective tenant's present supervisor to verify the salary range the person currently makes with the company.
Information on any disciplinary issues regarding the person is also helpful.
6.
You can opt to go to various agencies to help your verification process to ensure they have clear records.
You may inquire from courthouses for any eviction record and secure police records to make sure that you are not dealing with a dangerous person.
Good tenants are valuable treasures to find.
Nevertheless, finding the right one could mean a productive real estate investment.
A good tenant screening practice helps minimize the cost of low tenant turnover and property damage to a minimum.
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