Renting a property can be a daunting task, especially when faced with the challenge of evaluating a tenant’s rental history, including any prior evictions. An eviction record can be a significant red flag for landlords and may raise concerns about the tenant’s ability to fulfill their obligations as a renter. … Read More
A tenant’s residence history refers to a record of where the tenant has lived in the past, typically including information about previous rental properties and landlords. This information can include the addresses of previous residences, the length of time the tenant lived at each location, and the reason for leaving. … Read More
To assess a tenant’s affordability, investors and landlords determine the rent-to-income ratio by calculating the monthly rent as a percentage of the applicant’s income. The industry standard is a maximum of 30% of gross income going towards rent. According to HUD, tenants who exceed this 30% threshold are considered to … Read More
Landlords and property management companies often conduct background checks on potential tenants to verify their identity and check for any potential issues, such as a history of evictions. The scope of these checks can vary, but typically they include information such as past rental history. Wondering exactly what does a … Read More
Landlords have detailed application and screening processes in place in order to ensure that they entrust their rental property to the best possible tenants. Though a tenant who looks great on paper could still cause issues at some point over the span of your lease agreement, there are several ways that … Read More
As a landlord, it’s in your best interests to make sure that the tenant you approve for your property is trustworthy, respectful, and easy to work with. That’s why the tenant approval process is such an important part of every landlord’s job. If you’re in the process of screening tenants for … Read More
Finding good tenants is key to establishing a consistent, reliable rental income. Conversely, even one bad tenant can cause you tremendous headaches at best and significant financial loss at worst. Dealing with consistent late payments, complaints from other tenants, and even property destruction can be enough to make you regret … Read More
Perhaps you’ve got an investment property that you’re super excited about. You’ve put the time, money, and resources towards the next step to financial freedom. There’s just one thing standing in the way of everything going smoothly, you need a qualified tenant who pays on time. Seems like a no-brainer … Read More
Most landlords are allowed to conduct criminal background checks as part of the applicant screening process. It’s important to closely follow tenant screening laws, though, so you’re not accused of discrimination. Local Bans on Prospective Tenant Background Checks Some cities have prohibited landlords from running background checks, including Berkley, Richmond, Oakland, … Read More
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