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The New Landlord’s Guide to Tenant Screening

THE NEW LANDLORD'S GUIDE ΤΟ ΤΕΝΑNΤ SCREENING Screening tenants is about making sure you get the best tenants into your properties, by finding out everything there is to know about them. It's more than just a credit score! MY IDEAL TENANT IS... ESTABLISH YOUR BASIC REQUIREMENTS o000 100 INCOME: CREDIT: clear of collections 3x the monthly rent WORKS WELL GOOD ΤΕΝΑΝΤ! EMPLOΥΜΕΝ: LANDLORD REFERENCES: last 2 years, continuously positive EVICTIONS: CRIMES: never ever ever no felonies, no sex offenders STOP THE BADDIES BEFORE THEY APPLY Tenants who don't meet requirements won't often apply! USE AN APPLI- CATION FORM wwww O000 COMMUNICATE REQUIREMENTS BE IMPARTIAL LIKE A ROBOT USE THEM FOR EVERYONE SCREEN YOUR TENANTS ΕMPLΟΥΜΕΝΤ CHECK Tenant meet income require- ments No employment or income is insufficient There isn't a co-signer There is a co-signer CREDIT CHECK Bad credit report Good credit report CHECK RENTAL HISTORY Bad landlord references Good landlord references EVICTION SEARCH Previous evictions No evictions CRIMINAL BACKGROUND CHECK Crimes found No felonies or sex crimes DENY, SEND ADVERSE ACTION LETTER APPROVE TENANT Obviously, no tenant is going to be 100% perfect, so deciding how close to perfection you will require is a personal choice. You can set stringent requirements, but these requirements cannot be discriminatory. HOW TO AVOID FAIR HOUSING COMPLAINTS AND LAWSUITS YOU ARE ENTITLED TO REJECT APPLICANTS WITH: bad credit histories, insuf- ficient income, previous property damage, consistent late rent pay- ments, criminal histories, poor job history. BE A BUSINESSMAN Make decisions based on business reasons. Don't make choices based on personal reasons. ranges and Peaches ILLEGAL REASONS TO REFUSE TO RENT ΤΟ Α ΤΕΝΑΝΤ Race, religion, national origin, gender, age, familial status, physical or mental disability (including recovering alcoholics and people with a past drug addiction). In many states also: sexual orientation. JON SAVAGE DO NOT ASK QUESTIONS ABOUT ANYTHING RELATED TO THE ABOE MENTIONED PROTECTED CLASSES TRAIN YOUR STAFF TO UNDERSTAND THE FAIR HOUSING LAWS As the property owner, you may be held legally responsible for your employees' discriminatory statements or conduct, including sexual harassment. WHO IS YOUR STAFF Anybody who deals with your prospec- tive tenants. REAL ESTATE MANAGERS REAL ESTATE AGENTS AND ALL OF THEIR EMPLOYEES YOU CAN'T SET DIFFERENT REQUIREMENTS FOR DIFFERENT PERSONS IF YOU SET TOUGHER STANDARDS FOR SOMEONE (for example, for members of a racial minority) you are violating federal laws and opening yourself up to lawsuits. IF YOU GIVE ONE PERSON A BREAK (such as lowering the security deposit for a single mother but not for other tenants), you'll likewise risk a charge of dis- crimination from other tenants. THEREFORE BE CONSISTENT WITH PROSPECTIVE TENANTS Ask everyone the same questions and provide everyone the same information. IMAGES: www.lego.wikia.com www.minifigs.me www.findmybrick.com PMGuardian .com 100 100 AVAGE

The New Landlord’s Guide to Tenant Screening

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Screening tenants is about making sure you get the best tenants into your properties, by finding out everything there is to know about them. It’s more than just a credit score!

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