Tenant Screening for first time landlords and property owners
With a slow real estate market, the inventory of rental homes has increased, many with first time landlords. The amount of renters has increased as many new home owners cannot afford to pay their mortgages. Sometimes owners will attempt to find tenants themselves or use a mortgage company. Home owners are advised to screen their [...]
Finding Stable Reliable Tenants
Jessica Beganski wrote a great article about how to find and maintain reliable tenants. She makes some interesting points- the most striking is that she recommends allowing for pets. Her premise is:
I think having a pet shows you’re stable, responsible and flexible - all qualities of a good tenant.
Most landlords and property managers look at [...]
Criminal Tenants to face eviction in New Jersey
Problem tenants who commit crimes may have a tough time holding onto their apartments if a new inititive is passed Millville, New Jersey. The City Commission is exploring a new program which will allow landlords to work with the police and speed up evictions for crimes that occurr on their property.
Under the program, police would [...]
Difficult times for landlords and tenants
The bad economy is causing difficulties for landlords and tenants. Landlords are having a hard time collecting rent and evictions are on the rise. Tenants wages are not keeping up with the cost of living. Recently in Yonkers, tenants and landlords met with the Westchester County Rent Guidelines Committee ti discuss the issue.
Sounding much more [...]
Renting out your home
Chicago Sun times discusses the pros and cons of renting out your old home while you wait for it to sell. In this tough selling environment, renting your home can be a good source of income to cover the mortage. However, becoming a landlord can be a time consuming task if you haven’t done it [...]
Tips for New Landlords
Everything about landlord has a great tip list for prospective landlords. As with any new business decision, it’s important to conduct your own feasibility study and prepare a business plan. The emphasis here is on research and analysis. While you may be passionate about becoming a new landlord, it’s important to conduct your research and then examine the facts with discerning mind, [...]
Background Check your Potential Roommate
The Wall Street journal had a great article about checking out your potential roomates. They say that “twentysomethings are often too trusting of people they meet through, say, craigslist.org or apartment-finder Web sites” This can lead to big problems if you move in and your new roommate refuses or cannot pay their share of the [...]
Dealing with tenants who damage and destroy property
The Albert Lea Tribune has a three part series about landlord and tenant rights, especially with regard to problem tenants. Albert Lea landlords and property owners are having a problem with tenants or leave trash or destory property when they leave or are evicted.
Local landlord Lanier Pratt, who with his business partner owns about 40 [...]
Tips for Reluctant Landlords: Check the background of all Applicants
Reluctant to sell your home or residential real estate property? Consider becoming a landlord and renting it out. First time landlords need alot of help. One of the best ways to prevent future problems with tenants is to conduct a background check on all prospective tenants or applicants. Landlords should run a credit check to [...]
Tenant Screening discussed in Landlord Seminar
Police departments from Richland and Kennewick in the Tri-State Area conducting a landlord training and instruction seminar for approximately fifty two people. Tenant Screening and tenant background checks were one topic of discussion, including fire codes and crime, including graffiti and drugs.
“This is very beneficial. It gives us an opportunity to meet with community police departments, [...]
