Posted by JCarroll on June 27, 2011 at 06:24:59 from (75.22.113.218):
In Reply to: Rentals posted by oldironman on June 27, 2011 at 05:05:01:
I've been operating as a one-man (with lots of woman help) rental for 30 years. Here's my top 10 list: There are 3 rules of the rental business: 1. No pet ever improved the value of real estate. 2. Every tenant goes bad sooner or later. 3. There are no more rules.
As for screening, talk with an applicant's neighbors - do they have a dog they didn't mention; how drunk does it get on Friday nights; is there 2 dead cars in the driveway?
If self-employed, ask to see tax returns for the past 2 years. Most people aren't ballsy enough to lie to Uncle Sam.
Showing: You set the time - most are a waste of your time anyway. Have multiple people show up at the same time. Have a Fact Sheet to hand out which gives room sizes, utility costs, school districts, etc.
Application: Have a written one. accept it only with one-half of the security deposit (stops them looking at other rentals).
Move-in - have THEM make a list of anything that isn't up-to-snuff. Then you've got a record of where you and them started.
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