Hire a Tenant Screening Service That Tailors The Reports to Your Needs

Every tenant is different, and therefore no two rental applications or tenant screening reports will look the same. Each time you’re vetting potential tenants, it’s of the utmost importance to get the necessary background information about them to ensure they are who they say they are, with the job they claim to hold, and the clean rental history they say they have.

But every circumstance is a little bit different, and you shouldn’t be forced to pay for a lump of tenant screening services if you don’t necessarily need all of them. Perhaps you already have verified a person’s employment. Perhaps they’ve provided you with a recent copy of their credit report. Whatever the circumstances are, you should hire a professional tenant screening service that is willing and able to tailor the screening service to your needs, only generating those reports you really need and not wasting your time and your applicant’s money with frivolous checks and duplicate reports.

When searching for the right tenant screening service, find out whether they offer different levels of background screening services. Research until you find a reputable company that offers everything from single a la carte screening services, to full-service background screening packages that check everything from employment verification and previous eviction reports to criminal records and sex offender registries. 

http://www.alwaysscreen.com/
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Tax Deductions Can Spell “REFUND” For Landlords

Tax time is stressful for everyone, and landlords are no exception. But there are several tax deductions many landlords don’t realize they can take. Don’t pay more than you have to on Tax Day this year. Here is a list of deductions for owners of small residential rental property.

1. Interest. This includes interest on credit cards used for goods and services having to do with the rental unit, and mortgage interest payments on loans used to acquire or improve rental property.
2. Repairs. The cost of repairs to your rental property is fully deductible for the year in which the repair was done.
3. Travel. Keep track of mileage when you drive to and from the rental property or anywhere else associated with the property management business. You can deduct the standard mileage rate (51 cents per mile for 2011), or you can deduct your actual expenses (including gas, maintenance, repairs). There are exceptions and qualifiers, so ask a certified public accountant or other tax adviser.
4. Employees and Contractors. When you hire anyone to perform services for your rental activity, whether it’s a carpet cleaning service or mold removal, you can deduct their wages as a rental business expense.
5. Home office. As a tax adviser whether you can deduct your home office expenses from your taxable income.
6. Legal and professional services. You can deduct fees paid to lawyers, property management services, tenant screening services and other professionals that assisted you with the rental property business that year.

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