Basics of Property Management: Screening Potential Tenants

Basics of Property Management: Screening Potential Tenants

  • Real Estate Agents and Special Needs Trusts: 2 Things You Need to Know

    When an individual is not capable of making sound financial decision for himself or herself, family members may opt to set up a special needs trust. These types of trusts allow a trustee to make important financial decisions on behalf of an individual with special needs. As the individual ages, it may become necessary for the trustee to invest in the purchase of a home with the money held in a special needs trust.

  • How A Homeowners Association Protects Your Property

    The benefits of belonging to a homeowners association are well known and include maintenance of a community appearance, provision of recreational amenities and managing disputes, among others. However, did you also know that belonging to an HOA can also protect your property? This can happen via several ways as outlined below: Damage Prevention HOAs typically have rules and regulations governing residences behaviors. Some of these rules may prevent damage to your property.

  • Answering Questions About Common Issues With Apartment Rentals

    There are many people that underestimate the complexity of renting an apartment until they have already encountered major problems. However, it is important to note that these are legally binding contracts, and as a result, disputes, problems or conflicts with these agreements can spell major problems for you. In particular, there are some questions that individuals may need answered to help enhance their understandings of these contracts.  Are You Responsible For The Full Cost Of The Lease If You Need To Move Early?

  • House Hunting Deal Breakers - What To Discuss With Your Spouse

    If you and your spouse are in the market for a new home, it is important to be a united front. Understand before you begin your house hunt what your needs are, and what might be deal breakers. Here are three basic factors when it comes to home buying and hunting properties that can become tricky when there is more than one home buyer in the mix: 1. Location of Your New Home

  • 3 Questions To Ask Before Investing In A Two-Family Home

    The downside to living in a two-family home is that you will actually have to share walls with another family, and you may not have any say in who the other family is. If this is a problem for you, you could have control over this by purchasing the entire two-family house. You could live in one side and rent the other out to the family of your choice. This could be a good money-making investment for you, but here are three things to consider before you go through with it.

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    About Me
    Basics of Property Management: Screening Potential Tenants

    For the last several years, I've used a property management firm to help with my rental properties. One of the tasks that they handle for me is screening applicants who would like to move into one of my vacant units. Their expertise has helped me lower my tenant turnover and find people who want to stay with me for years. Part of the process is a tenant screening credit check. Before any further contact takes place, my manager orders credit reports from at least two agencies. That is enough to tell us if an applicant is a good financial risk. Assuming the references work out, I meet the candidate and make the final decision. If you own rental properties, let me tell you more about the benefits of having a property manager. I'm betting you'll find this type of arrangement will work for you too.

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