Thursday, November 17, 2011

How to decide between two great potential tenants

All landlords dream about finding that perfect tenant. But what happens when you find two?

It might sound like a pipe dream, but there are lots of good quality renters out there, and if you find yourself in the company of more than one tenant who makes a good first impression, has a stable monthly income, and passes the tenant screening process with flying colors, it can be difficult to decide which one should get the keys and the lease.

What you don’t want to do is let your personal biases become discriminatory, thereby violating Fair Housing laws. The first thing to do is to compare their tenant screening reports side by side and see whether one rises to the top based on cold hard facts (including the credit rating and background check). If not, think about other factors, like the stability of their respective employers, the length of time they’ve worked there, and how long you expect them to live there.

Make the decision based on who is the better risk, not on which one you think you like better or which one you are personally more comfortable with. And when you think you’ve made your decision, justify it to yourself on paper so that you are sure there are no illegal biases at play. 

http://www.alwaysscreen.com/

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Friday, November 4, 2011

Knock, Knock: Know Your Rights About Entering Rental Property

One area of the landlord-tenant relationship that should be clear between both tenant and landlord — but seldom is — is when, how and how often a landlord may enter the tenant’s residence. Some tenants think the landlord never has the right to enter, that for as long as their name is on the lease the landlord can only enter with an invitation. Conversely, some landlords believe they have the right to come and go as they please. Neither of those assumptions is correct.

Rights of entry differ for every state, although in every state a landlord may enter the rental property without notice to the tenant if there is an emergency such as a fire, gas leak, or severe water leak.

If it’s not an emergency, the rules vary, although in most states the landlord must give advance notice — typically 24 to 48 hours — of their desire and intent to enter the premises, and the reason for the visit. A landlord can’t just stop by to check on the place; there should be a specific reason, such as a repair needing to be made or the need to show the property to a prospective tenant or buyer. In some states, the landlord must only enter the tenant’s residence during normal business hours, which are generally understood to be between 8 a.m. and 5 p.m. And if the tenant refuses the landlord’s request, the landlord can enter without permission at a reasonable time.

Hopefully a landlord has worked at fostering a cordial relationship with the tenant, as well as a mutual understanding that maintaining the rental unit properly and safely is in both of their best interests. But it is best to also know your rights, and limitations, when it comes to entering your rental unit when it is occupied.