| Many people think owning a complex or building is | | | | rate for application fees in your area (usually $35 |
| easy money. What do you have to do, but own a | | | | to $50); this covers the cost of the background |
| property, pick up a check, and listen to the | | | | checks you'll need to get. |
| occasional "loud noise" complaint? The answer: | | | | A collection fee not only covers the costs of |
| plenty. Selecting the right tenants is a skill every | | | | background checks, it also lets you know if your |
| landlord or investment property owner should | | | | tenant is really interested in renting the apartment. |
| develop. It will save time, money, and headaches. | | | | You will need written permission to do background |
| Here are a few tips on how to screen for the | | | | checks, so add an authorization paragraph that |
| right tenants: | | | | the prospective tenants sign. Many of these |
| How do you screen tenants? This is where the | | | | forms or templates can be found online. |
| selection process begins and needs to be done | | | | Once you have the signed applications, go back to |
| correctly if you're ever going to find the "perfect | | | | your office and run both credit and criminal |
| tenants." First, avoid wasting your time by | | | | background checks. Verify their employment and |
| scheduling a property showing and waiting for a | | | | be sure to check references - you'll want to |
| no-show. Give perspective tenants a specific time: | | | | contact at least two previous landlords - you don't |
| "I've two showing times and I will definitely be | | | | know if the person is being completely honest |
| leaving at 11:30, so you will need to be there at | | | | about their current living situation. |
| 11:00." Try and schedule tenants around the same | | | | Follow these tips when you're searching for |
| time so you don't need to keep going back and | | | | tenants and rent like a professional. Avoid |
| forth from your property. | | | | headaches and heartaches that come from |
| Definitely collect application fees from everyone | | | | renting to the wrong people. |
| who wants to be your tenant. Check the market | | | | |