5 Reasons to Verify a Tenant’s Income and Employment
Verifying a tenant’s employment history and income is a vital step to approving his or her application. The unfortunate economic situation makes it even more important; while many good people have lost their jobs through no fault of their own, your tenants still need to pass your litmus tests, including meeting minimum income requirements. Here are [...]
Categories: Checking Tenant’s Employment, Landlord and Tenant FAQs, Landlord Tenant Issues, Rental Property Management, Renting and Leasing Issues, Tenant Screening & Background Checks, Verifying Tenant Income Tags: background, check, company, employment, landlord, property, tenant
When a Tenant’s Rent Check Bounces
While some landlords avoid bounced checks by requiring cash or money orders from tenants, most still accept checks—and the risk that goes with that. Studies show that while the number of online payment options grows, the number of checks being written is declining. Still, plenty of folks pay their bills—including rent—with checks. What are your options [...]
Categories: Bad Checks from Tenants, Landlord and Tenant FAQs, Landlord Tenant Issues, Rental Property Management, Renting and Leasing Issues, Rents and Deposits Tags: check, landlord, online, police, property, rental, tenant
What if Your Tenant is Doing Drugs?
Christopher is no newbie landlord. He has purchased and rehabbed several properties in his city, and is running his investment property business full time. His tenants are a mix of couples, families, and singles from every income tier and diverse backgrounds. He’s had his share of problem tenants, but the only real problems he’s had [...]
Categories: Evicting Tenant for Pot, Eviction, Landlord and Tenant FAQs, Rental Property Management, Renting and Leasing, Tenants Drug Use, What to do if Tenant Uses Drugs Tags: background, complete, free, landlord, property, rental, tenant
Five No-Nos for Landlords
If you’re a seasoned landlord, you probably have done each of these no-nos at least once in your career. If you’re a newbie, consider yourself warned: these five errors are easy to make, and can cost you plenty. 1. Making decisions with your heart instead of your head. Yes, owning rental property is a people business—and when [...]
Categories: Common Landlord Errors, Landlord and Tenant FAQs, Landlord Mistakes, Landlord No No, Landlord Tips, Rental Property Management, Renting and Leasing Tags: best, employment, landlord, property, rental, tenant
What Makes a Landlord “Good?”
Landlording can be a tough business. Your income often depends on factors beyond your control: the economy leads to job losses; job losses and overbuilding lead to vacancies; vacancies lead to a renter’s market. Coupled with the day-to-day hassles of keeping your properties in shape, handling tenant problems, and making the numbers work, the stress [...]
Categories: Good Landlord, Landlord and Tenant FAQs, Landlord Tips, Landlord/Tenant Issues, Rental Property Management, Renting and Leasing Tags: background, best, check, landlord, property, rental, tenant
The Case for Regular Rental Property Inspections
Landlords, do you really know what’s going on inside your rental properties? Has a tenant ever surprised you with unacceptable (or illegal) behavior? How many of you have discovered evidence of an unauthorized pet—after the tenant moved out? It only takes a quick scan of a newspaper to find the horror stories landlords and property managers [...]
Categories: Inspecting Rental Property, Landlord and Tenant FAQs, Landlord Tenant Issues, Landlord Tips, Rentaing and Leasing, Rental Property Management Tags: check, landlord, police, property, rental, tenant
Pests in Rental Housing: Who is Responsible?
The question of pest control in rental properties is often debated. Tenants expect that their rental unit will be pest-free when they move in.—and they expect that the property owner will keep it pest-free. Pests fall under the responsibility of making your property habitable, which your tenants are entitled to. Some landlords maintain that their responsibility [...]
Categories: Landlord and Tenant FAQs, Landlord Tenant Pest Issues, Landlord Tips, Pest Control in Rental Housing, Rental Property Management, Renting and Leasing Tags: free, landlord, property, rental, tenant
Security Deposits: Some General Guidelines
Where are landlords required to place security deposit funds in FDIC-insured institutions? Are you allowed to earn interest on your tenant’s security deposit, or must you turn interest over to the tenant at the end of the lease? How long are you legally allowed to hold the deposit after your tenant moves out? Every state has [...]
Categories: Landlord and Tenant FAQs, Landlord Tenant Issues, Landlord Tenant Lawsuits, Real Estate Investment Property, Rental Property Management, Security Deposit Guidelines, Tenant Security Deposit Tags: background, check, landlord, property, rental, tenant
Do You Charge Tenant Application Fees?
If one of your New Year’s Resolutions is to increase your cash flow, one way to do so is through application fees. Landlords and property managers use these fees to recover their expenses for background screening, credit checks, and the time it takes to vet a potential tenant. If you’re really lucky and have several applicants [...]
Categories: Landlord and Tenant FAQs, Real Estate Investment Property, Rental Property Management, Rents and Deposits, Screening and Background Checks, Tenant Application Fees Tags: background, best, check, complete, landlord, property, rental, tenant
When Tenants want to Sublease
Sometimes a tenant needs to move before the lease is up. In a good rental market, a landlord can find a new tenant without much time or effort. When there are more tenants than rental units, landlords have the luxury of choice regarding allowing tenants to sublet. However, when the rental market has excess inventory and [...]
Categories: check, Landlord and Tenant FAQs, Landlord and Tenant Issues, Rental Property Management, Renting and Leasing, tenant, Tenant Sublease Tags: check, landlord, rental, tenant