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| I rent out two houses and with the same tenants for 6 and 10 years. I went online and found a rental application that requested all the important information. I also requested a credit report with the application. Credit reports are free at www.annualcreditreport.com
Requiring a credit report scared a lot of potential renters off which was a good thing. You probably won't find a perfect credit report or they would be homeowners. One set of tenants had a poor report from a failed construction business but they told me that upfront. They couldn't get a loan but they could pay monthly rent and had the wherewithal to manage a high maintenance house. I also asked for references especially from previous landlords and called them. It's amazing what a reference will tell you if you ask. The question "Would you rent to this person again?" opens the door up to all kinds of information. Finally, prepare a written lease so everything is in black and white. Like someone else said if you get a good tenant treat them well. I've been slow to raise rents, despite rising taxes and insurance, because I've got good tenants and want them to stay. | |
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Who here has a rental house let out
