Closing the Lease Deal: How to Turn a Prospect into a Tenant
According to MPF Research, the apartment rental market is showing signs of improvement, as the vacancy rate declined from 8.2% to 6.6% in the first half of 2010. That’s good news for landlords. Perhaps you’re already seeing an increase in the number of prospective tenants viewing your rental properties. If you’d like to fill your [...]
Categories: Landlord Tips, Prospective Tenants, Rental Property Management, Rental Property Tips, Tenant Screening & Background Checks, Tips for Leasing Tags:
Limiting Tenant Background Screening to Your State Alone is Risky
The U.S. Supreme Court issued a ruling June 1 that could affect landlords whose tenant background checks are limited to the state they reside in. Essentially, the Court ruled that a convicted sex offender did not have to register in the state he currently lives in because his conviction pre-dated the Sex Offender Registration and [...]
Categories: Supreme Court Decision on Sex Offender Registration, Tenant Background Screening, Tenant Criminal Background Check, Tenant Screening & Background Checks Tags:
I’m Tired of My Noisy Tenant!
Elaine is a responsible, no-nonsense landlord. Her leases are clear and thorough, and her tenants generally live by her rules. Every now and then, however, Elaine signs a lease with a tenant who unexpectedly starts causing trouble—despite her checking the tenant’s rental history, criminal background, and credit. This time it’s a young woman who is [...]
Categories: Evicting tenants, Eviction, Landlord and Tenant Issues, Problem Tenants, Rental Property Management, Renting and Leasing, Tenant Screening & Background Checks, Three Day Notice to Perform Covenant or Quit, Three Day Notice to Quit Tags:
A Landlord’s Guide to Subleasing
Leases begin and end; tenants come and go. Often, life interferes with details like legal documents (leases) and a tenant comes to you with an announcement: “I’m moving, but don’t worry—I found someone to take over my lease!” For some landlords, this is when the worrying begins. For others, it’s not a big deal—having a [...]
Categories: Landlord and Tenant FAQs, Landlord and Tenant Issues, Landlord Paperwork and Forms, Rental Property Management, Renting and Leasing, Tenant Screening & Background Checks, Tenant Sublease, Who’s Responsible for Sublease? Tags:
Landlord Basics: Showing Your Rental Property to Potential Tenants
You’ve advertised your vacant rental property, had some calls of interest, and pre-screened the callers to weed out those that aren’t best-fit tenants for you. Now, you’re ready to show the property in person. Here are a few tips for a successful showing of your rental property: If you can, schedule an open house to [...]
Categories: Landlord Tips, Potential Tenants, Rental Property Management, Renting and Leasing, Showing a Rental Property, Tenant Background Checks, Tenant Screening & Background Checks Tags:
How to Deal with Cosigners on a Residential Rental Lease
Every landlord has his or her way of dealing with potential tenants who have less than stellar credit histories, or whose income is lower than the required minimum for a rental property. Many just outright reject the tenant applicant and move on until they find a better fit. Others take into consideration the tenant applicant’s [...]
Categories: Co-Signers on Rental Property Leases, Landlord Tips, Managing Lease Co-Signers, Rental Property Management, Renting and Leasing, Require Co-Signer on Lease, Tenant Screening & Background Checks Tags:
What Landlords Need to Know About Tenant Background Checks and the Law
The Fair Credit Reporting Act (FCRA) established rules to protect privacy and guarantee report accuracy when businesses, banks, and rental property owners check consumers’ credit histories. Landlords are allowed to obtain tenant credit reports as long as they follow the FCRA’s provisions. Specifically, when landlords obtain information about a potential tenant’s credit history, rental history, [...]
Categories: FCRA, Landlord Credit Check, Tenant Credit Check, Tenant Credit Checks, Tenant Credit Report, tenant screening, Tenant Screening & Background Checks, tenant screening services Tags:
Money-Saving Hints from Landlords
Landlords are happy to share information to help out their fellow rental property owners—especially when it comes to saving money, time, and trouble. Here is a round-up of some of our favorite easy-to-implement ideas. Out with the carpeting. If you own an older rental building or home, there are probably hardwood floors lurking beneath that worn-out [...]
Categories: Landlord Tenant Issues, Landlord Tips, Rental Property Improvement, Rental Property Maintenance, Rental Property Management, Tenant Screening & Background Checks Tags:
Be Careful when Rejecting a Tenant Application
Our last post contained a warning to landlords that what you say can come back to haunt you. In other every day activities, like accepting or rejecting new tenants, landlords must also take care to know and follow all applicable laws—because it protects you and your business from liability. Take discrimination. The Fair Housing Act is [...]
Categories: Fair Housing Act, Landlord Discrimination, Landlord Paperwork and Forms, Landlord Tenant Lawsuits, Rejecting a Tenant Application, Rental Property Management, Tenant Rejection, Tenant Screening & Background Checks Tags:
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