Checking Out Potential TenantsWritten by dan the roommate man
If you're landlord of a complex in high demand, you have to have high standards for your tenants. You don't want to rent to any Joe Blow and then lose building a month later because he's been growing an "herbal garden" in bedroom. In order to avoid any complications with your new tenants, background check you perform should be extensive.Typical rental applications look something like this... but if your apartment or home is in high demand, you should have high demands on your applicants as well. Don't be afraid to ask more questions. Being a little nosy can save you from some future stresses. The sample application asks for current employment information, but it's a good idea to request previous employment information as well. Sally may be a great employee at Buck's Bar... but if she's only been employed there for a few weeks, it's a good idea to contact her previous employer. Did she walk out? Was she constantly late? Was she fired for inappropriate behavior? Likewise, you'll want tenant's previous (not only current) landlord contact information. If you only talk to your applicant's current landlord you may hear nothing but wonderful things, but that landlord may just be saying them to get rid of terrible tenant! The previous landlord, however, has nothing to lose by telling you blunt truth. Find out if applicant was consistent with payments, or if he or she caused any trouble for other tenants. Ask about annual income. According to many property managers, rent should not be more than 33 percent of income. If you do math, and it doesn't look like applicant will be able to afford rent, you should ask them about their plan. Robert Irwin, author of The Landlord's Troubleshooter, Dearborn, asks applicants bluntly: "Do you figure you'll be able to handle monthly rent payments?" Irwin explains that good tenants will usually spout off how they plan to budget for apartment. It's still important to check out their finances through their employer and credit history to find out if they're telling truth.
| | Water Damage In A Rental UnitWritten by dan the roommate man
Biting her keys in her mouth, Phyllis jiggled condo door open with her free fingertip. Peeking over bags of groceries, she stumbled through living room and into kitchen. Step. Step. Step. Squish......? Setting groceries down, her line of vision shifted to her feet... now immersed in a lukewarm puddle of water, and as she scanned room, she saw that her couches... chairs, and coffee tables were also about to set sail.Frantically searching for culprit, Phyllis became more and more frustrated. The sinks were turned off. The tubs were empty. The dishwasher wasn't on and it hadn't rained for weeks. Then she realized where it was all coming from. It seems that good ole' neighbor Joe Brown never felt it necessary to repair that kitchen sink leak. Why should he have? The leak never came in on his side of apartment wall. So now what? It wasn't her fault she had a new indoor swimming area, but would she have to pay for damages? Allstate Agent Joe McLean says that she purchased a good renter's insurance policy, she would be covered. There are renter's insurance policies which protect you in event of a bursted pipe, water heater, water bed, etc. With this insurance, you won't have to worry about replacing pipes, carpeting, or your personal belongings directly out-of-pocket. Unfortunately, Phyllis didn't have water damage specifically covered under her renter's insurance policy. She was therefore only reimbursed for damage to her personal belongings, not for replacement of carpet, or repair of leaking pipe. If her neighbor had had coverage, his policy would have paid for damage... but he didn't. For next six months everyone pushed repair costs on to someone else. The plumbers said it wasn't their responsibility any longer, Joe didn't care because it didn't affect him directly, and landlord argued that according to lease, he was only responsible for exterior upkeep of condos, not interior. There wasn't even a security deposit for landlord to take from. Meanwhile, carpet began to mold, and patience wore thin. In order to avoid going through tedious small claims court process, Phyllis moved into another condo and away from stress. The new owner eventually had to fork out cost for repairs, and problem was finally resolved.
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