When you have a vacancy at your property, you’ll be tempted to fill it as soon as possible. But in most cases, it’s better to carefully screen your tenants, so you can be sure you fill the property with a candidate who will pay you consistently, on time, and preferably for as long a period as possible…. [Read More]
As you may know from previous experience, good tenant screening is one of the single most important factors in being a profitable landlord. The right tenants lead to high occupancy rates, low attrition, and steady and reliable income. They cause fewer headaches, do less damage to your property, and simply make your life easier on a daily basis…. [Read More]
Establishing a tenant-landlord relationship with an individual is serious. If someone is going to be living in a property that you own, then you have the right to know who they are and what risks they pose. Unfortunately, many landlords – both inexperienced and veteran – often choose to forgo this critical aspect of the tenant acquisition process…. [Read More]
A bad tenant can end up costing you a lot of money. While you might normally enjoy a positive monthly cash flow, a bad tenant can seriously cut into your profits; worst-case scenario, a bad tenant can actually put you in the red…. [Read More]
In a perfect world, the landlord would provide a much-needed service, and the tenant would accept it gratefully, paying the rent on time and respecting the property. However, that’s not always the case, and the best landlords will know how to recognize bad tenants when they come.
This is why having a tenant screening process is so important. Call previous tenants, ask detailed questions, and interview them personally in order to get a good idea of the type of renters they’ll be. You can learn the signs that will identify any of the unpleasant boarders on this list in order to avoid a messy situation. You have enough going on as a landlord without worrying about tenant drama. Here are a few types of renters you’ll want to avoid at all costs…. [Read More]
The idea of denying or rejecting a tenant application is frightening to the average landlord. Most approach the issue with fear and trepidation and believe any slight misstep could land them in hot water. And, while this is true to some extent (you don’t want to illegally reject a tenant), there are plenty of ways to go about rejecting a tenant in accordance with the law. You simply need a firm grasp on the issue…. [Read More]
You’ve probably heard of prospective renters losing out on thousands when rent scammers pose as the owners of a rental property. Those hopeful tenants find out too late that the property they paid for never existed…. [Read More]
One of the best ways to diminish vacancy and turnover rates is through proper tenant screening. While first impressions can tell you a lot, you need more than a brief meeting to determine who you’re dealing with. It’s imperative that you perform a comprehensive evaluation of every tenant you consider.
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It’s easy to become blasé about renting out your property, particularly if you’re an experienced landlord. However, have you considered how much trust is involved when you rent to a tenant? Most tenants are complete strangers to you, but you trust them to live in your property anyway. Even when you protect yourself legally, renting to the wrong tenant can have big consequences. Renting out your property isn’t something to be taken lightly.
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