Better Screening = Better Tenants
Better Screening = Better Tenants
Do you want to rent your home, but are scared that you will get a renter who is a fraud? While your fears may be valid, there is a solution to this problem ” better screening. Screening is the first process that starts once an individual shows interest towards your property and sends you an application. There have been hundreds of cases where malicious tenants have duped landlords. The tenants get this opportunity when the landlords are careless about screening the candidate s application file properly. Screening the details of an application will give the landlords enough clues to decide whether to rent the house to the applicant or not. While screening an application, the landlord should pay special attention to the following details that are mentioned in the application: Social Security Number: This is the most effective tool to find out the authenticity of a person. However, imposters may copy someone else s number, or they omit that section. This should be the first alarm sign, and the landlord should make sure that no matter what the circumstances, the social security number should be quoted, which the landlord should check with government authorities. Name: This is another device used by fraudulent people to deceive landlords. Often wrong names are supplied to the landlord by carrying out some unusual name arrangements. Unusual name arrangements, such as the names of well-known personalities like Magic Johnson or Tiger Woods, or odd sounding names coupled with common names, are usually used. Employment details: There are many people who supply wrong information regarding their employment. For example, misspelled job titles or wrong information about one s salary structure are given. A handyman, for instance, may not earn over $50,000 a year. Also check out for symbols like cents or decimals inserted while writing the amount. Or, the years of employment does not seem to correlate with the applicant s age. The other types of deceptive employment details are the omission or copied net/gross income, or the supplementary income exceeding the net income. If during the follow up with the employer of the candidate, the employer answers on a cell phone or through an answering machine without identifying the company, this may be a sign of fraud, requiring investigating the employment status of the candidate more thoroughly. Bank Account: Another foolproof way of checking a candidate is through the banking details that he/she has given in the application form. However, fraudulent people often omit or quote copied bank account numbers, or provide a reference number that is abbreviated or has strange symbols. If you spot something like this, further investigation is required. The other factors that should make you suspicious are credit references being written in the same sequence as on the credit report. Add to that a newly opened bank account, and payment accounts being exactly the same. And not to forget the references; the credit references quoted are of unknown companies or of closed accounts, or the references denying knowing the candidate, and finally, if there is significantly more credit than debit in the account. Some other things that should sound alarm bells in your mind are: Wrong spellings, or use of P.O. Box for reference; additional residents not sharing the same surname; the first four credit card digits not corroborating with the issuing bank s I.D. number; the phone number and area code not correlating with the address given; or if the nearest relative is a professional, like a doctor or lawyer (this is usually done to establish more credibility). Always remember, no one can cheat you if you are careful enough to conduct a thorough screening, along with asking for credit, criminal and eviction reports. Sound renting decision is based on all these factors, and better screening means better tenants, and better tenants means peace of mind.
Written by Kevin Kiene, founder of www.ezLandlordForms.com. Looking for a <a href="http://www.ezlandlordforms.com/">Lease Agreement</a>, Eviction Notice, or a Rental Application for your rental property? ezLandlordForms offers professional landlord forms that you can create online and print right from your home or office. More than just forms, we offer the only web-based document system for landlords.
Taking Care Of Your Rental: Before, During And After
Renting properties and homes is a highly profitable business if the enterprise is properly planned and executed. One thing that every landlord has to and will have to deal with is maintaining the condition of their properties. So how can a landlord maintain their properties and keep them in top-notch condition on an ongoing basis? Well, let’s break this up into three different categories: before, during and after.
Before - Before a property is rented out there should be routine maintenance done on it. Make sure that the place is clean and clear of mess. Take the time to ensure that all appliances work and have no malfunctions. In order to make the property more appealing, paint the walls. This will give the property a clean slate so to speak and will also give you a memorable starting point for the property against which to gauge and damage that may occur in the future. Also, take some pictures, digital or otherwise of the rental. Make sure to get shots of every room from every angle. In the event that some damage does occur you will want to have these pictures for reference.
During - While the property is rented the best thing you can do is to be vigilant and timely in fulfilling the requests of the tenant (within reason of course). As a landlord you are entitled to do spot inspections of the property but keep in mind that you must give the tenants appropriate notice before entering the home. Make the commitment to respond to requests from your renters in a timely manner. If you are attentive then chances are you will be a popular landlord. Many renters have run afoul of landlords that simply don’t seem to care and never get around to fixing things that break or taking care of problems. Having a negligent landlord makes it more difficult for renters to take pride in the property.
After - After a renter moves out the name of the game is making sure that there was no damage done to the property and getting it ready for the next tenants. This is a good time to compare the home to the pictures you took before to see if there are any discrepancies. If the damages exceed the amount of the damage deposit then you have the right to get the additional amount from the renters. Protecting your investment is an important thing so be sure you are ready to do so if necessary.
Michael Peterson is a representative of NationalRentalProperties.com. The one-stop site for locating rental properties across the nation. Contact us anytime or visit us online at www.nationalrentalproperties.com
Benefits Short Term Home Rentals
Benefits of Renting Out Your Alpharetta, Georgia Real Estate
Most homeowners dismiss the idea of renting out their property. They don t want the headaches of collecting rent, doing repairs, handling unruly tenants, and other aspects of the landlord-tenant relationship.
There are cases, however, where renting out your home for a short period is a sound decision for residents of Alpharetta. Georgia real estate brokers will tell you that in many situations, the positives outweigh the negatives.
Who should rent out their homes?
For residents of Alpharetta, Georgia, real estate rental can be a good option if you are fuzzy about your selling or moving plans.
Homeowners nearing retirement are a common group who can benefit. They may be unsure where they want to live out their golden years and this allows them to try other areas and other types of living, such as an apartment or an independent living facility, without giving up their home in Alpharetta.
Georgia real estate that is an asset in a divorce or estate settlement may also benefit from short term rentals. For example, a divorce settlement may go more smoothly if neither party is living in a contested house.
Pointers for people renting out their homes
Regardless of your reason for offering your home up for rental, go about it cautiously so you are fully protected.
Gather information on the local rental market. Peruse ads in the newspaper and on the internet to see what Alpharetta, Georgia real estate is renting for. Find as close a match as you can in terms of size, type (single-family, townhouse, condo), amenities, and location.
Calculate your profit margin. Once you know the rent on your Alpharetta, Georgia real estate, run the numbers to see if it makes sense. The rent should cover your mortgage payments, property taxes, insurance, and expenses of home maintenance.
Damage-proof the house. No matter how carefully you screen the tenants, you always run the risk of damage to your property. Minimize the possibilities of damage with a few simple steps:
- Repaint walls with easy-to-clean semigloss paint
- Seal hardwood floors with two or more coats
- Replace valuable fixtures with inexpensive ones.
Empty your home at least one month before you sell it. Your tenants have no incentive to keep the place clean or treat prospective buyers with courtesy.
Get the help of an experienced broker
Renting Alpharetta, Georgia real estate involves a different set of problems than buying or selling and it pays to have an expert in your corner. Enlist the services of a real estate broker who has worked with rentals before. All of the steps above are much easier with the help of a qualified broker plus they can offer additional services such as tenant screening.
Realty1st has over 15 years of experience with <a href= http://www.realty1st.net/alpharetta-georgia-real-estate.html >Alpharetta, Georgia real estate</a>. Our experience with the local market and with the special needs of landlords can make your rental experience a happy and lucrative one. Don t be overwhelmed by your new responsibilities; contact Realty1st and get the help you need.
Sell And Rent Back: Save Your Home Posted By : Peter Shukla
The housing market is changing every day. With the outlook of the housing market only getting better it is easier to make long term decisions with your property. One newer technique people are using to free up the equity in their homes is the sell and rent back technique.
What is the Foreclosure Process? Posted By : Alison McKenzie
The process to foreclose does vary from state to state and is usually only undertaken when all other avenues available to the lender have been exhausted.The loan can be as little as 90 days in arrears when a lender will start legal proceedings to foreclose on a property.
To rent an apartment or condo in Bangkok?
By info at 4:48 am on Wednesday, June 13, 2007 Edit This Many people ask, what s the difference between an apartment and a condo in Bangkok? Well, condos are individually owned units whilst an apartment is a block of rental units owned by a company, family or individual. There are, of course pros and cons to renting an apartment over condo and hopefully this article will shed some light on the apartment versus condo rental issue, and help you with your final decision. Rental prices When it comes to price, I don t think it differs very much whether it s an apartment or condo. The rental rate is usually determined by the location, age and grade of building, size of unit, number of bedrooms, facilities, d ©cor and furnishing. For a guide on what your rental budget will buy, click here. Utility bills. Now, this is where the main disadvantage lies in renting an apartment over a condo. Apartments tend to have a minimum charge for water (usually around 1000 baht per month) and a surcharge on electricity (around 5 ” 6 baht a unit compared to the 3.5 baht charged by the MEA). All this can amount a hefty difference in utility bills at the end of every month. I live in a 3 storey townhouse with a family of 6 and my water bill has never exceeded 500 BHT a month, ever. We do a lot of washing and drinking too! Building management fees These fees apply more for condominiums since apartments have already accounted for their operating cost in their rates. This is usually around 40 baht per square metre and most of the time; this fee has already been included in the rent. However, if you got you a really good deal i.e. a nicely furnished 95 sqm 2 bedroom in the CBD for 25,000 baht/month, then it s likely that your landlord will not be paying the building mgt. fee for you. I think that s reasonable enough. Others At the end of the day, whether you are renting an apartment or a condo, who you rent it from is extremely important. With condo owners, I feel that it s a lot easier to negotiate on the rent since these individuals can be more flexible, compared to an apartment which charges standard rates that are usually non-negotiable. However, finding a suitable condo for rent is a little trickier on your own since you ll have to know where there is a unit for rent and the owner s contact. That is where real estate; and property agencies like Bangkok Findercan help you. The other thing is maintenance. It s definitely a lot more convenient if you are living in an apartment since there is usually an in house maintenance guy hired by the building at hand. However, I know of many condo owners who take very good care of their property and have their own handyman who usually respond within a day. The cost can be foot by the landlord or the tenant depending on the initial agreement. Again, the cheaper the rent, the more you ll have to account during your lease tenure. Apart from that, apartments and condos both offer 24 hour security and feel safer for most, compared to living in a house. There is also NO chance of flooding inside your home, which is a major concern for most people looking to rent or buy in Thailand. Those are the main points really. Now, are you ready to start your home search? Here are apartments for rent and condos for rent in Bangkok.
Maddy Barber runs Bangkok Finder a property rental agency that specialises solely in properties for rent in Bangkok, Thailand. She has lived and worked abroad in India, Malaysia, China and various parts of Asia previously before moving to Thailand 6 years ago with her family. Her vast experience in negotiating and finding homes in a foreign land led the way for Bangkok Finder, which today helps hundreds of expats yearly, relocate and settle into their new home in Bangkok. She speaks English, Mandarin, Thai and various Chinese dialects.
How to Handle Disputes with Your New York City Landlord Posted By : Nicholas A Judge-14905
Like most states in the Northeast, the rental law in New York usually places more importance on tenant’s rights than the landlord’s bottom line. While legislated tenant’s rights extend throughout just about every part of renting and living in NYC apartments, there are a few key types of disputes between landlord and tenant that most often come up. Not understanding what to do can lead to overbearing or even well-intentioned landlords exploiting their tenants. So, this article will tell you how to deal with problems that most often create conflict with landlords.