| A difficult tenant can make your life difficult too. If | | | | which you would not consider a candidate. Ensure |
| you want to enjoy your money and life, make sure | | | | they have no criminal proceedings and no cases of |
| you choose the right tenant. Your rental business | | | | legal eviction running with their previous landlords. Get |
| might come down crashing if you do not pay | | | | the details of their previous landlord to do a |
| adequate time and attention to making the right | | | | reference check. Do a formal check with the |
| choice. Familiarization to tenant and rent laws | | | | colleagues and the employers of the candidates. |
| applicable for your state is a must if you are thinking | | | | Make sure you have the right contact details of the |
| of getting into rental business. | | | | references provided by the shortlisted candidates. |
| Tenant selection is a scientific exercise | | | | Pay attention to the inclusions in the Rent |
| Consider tenant selection no less than an important | | | | Agreement |
| project which needs good planning and even better | | | | Discuss everything threadbare during the face to |
| execution. The most easy and trustworthy approach | | | | face discussion with the prospective tenants clearly |
| is the old age “word of mouth” which is sure | | | | listing down the list of don’ts during their |
| to work nine out of ten times. However the problem | | | | tenancy. Make sure that the rent agreement includes |
| with the “word of mouth” approach is that it | | | | important issues like late payment of rent, tenant |
| takes a longer time to yield results. Your search for | | | | abandonment etc. A well thought out rent agreement |
| an easy to manage tenant would then have to rely | | | | would be your best friend just in case the tenant |
| on classifieds placed in real estate magazine or | | | | starts acting difficult. Many a time tenants do not pay |
| newspaper. This is where the problem just might | | | | adequate attention to the provisions listed in the rent |
| start. You are likely to receive a good response to | | | | agreement in their eagerness to organize a house for |
| your ad but the trouble is you hardly know anything | | | | themselves. Hence make the rent agreement as |
| about the guys who approach you for tenancy. Make | | | | stringent as possible. It is advisable to have a real |
| sure you screen the applicants wisely and call the | | | | estate attorney finalize your rent agreement. |
| shortlisted individuals for a face to face interview. | | | | Final Word |
| Screening the applicants | | | | Do not show haste while selecting a tenant. The |
| There are a number of ways to screen the | | | | golden rule is that good tenants shall always |
| shortlisted applicants. There are a number screening | | | | negotiate well and settle for a lower rent. It is in your |
| services agencies which would do the job for you. | | | | interest not to be penny wise and pound foolish. You |
| They do a fairly reasonable job in ascertaining the | | | | should be happy with a good tenant who pays less |
| credentials and character of the applicants. Get a | | | | rather than one who pays well but leaves your house |
| copy of the credit score for each and every | | | | in shambles or one who just pays you for a couple |
| shortlisted candidate. Stipulate the credit score below | | | | of months and then goes missing. |