Landlords: 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.
| | Don't Sign That Lease YetWritten by dan the roommate man
You're being transferred to a new city in another state for a position that you start in exactly two weeks. You fly to your new hometown to select an apartment. You have exactly two days to make a decision and sign a lease, so when, after much searching, you find a vacancy in a relatively decent property, you're anxious to sign when lease is placed in front of you. Resist urge. As mentioned in previously in our report "Avoiding Tenants' Tribulations," wearing rose-colored glasses can easily fool you into believing that your best interests as a tenant will be protected. Your desire to find a home and wind up what can be an exhaustive search process can push you into signing on dotted line before you've read and understand all of fine print of your lease.What's purpose of a lease, aside from your agreement to pay your rent each month and maintain your apartment in good condition? For starters, responsibilities of your landlord are clearly outlined in this contract, so it's obviously in your best interests to read lease carefully. If you're ignorant of lease terms, you could find yourself blindsided several months later when your landlord holds you responsible for damage or other breach of lease, and subsequently asks you to move out. What if your employment situation changes five months into your 12-month lease, and you've got to move before your lease expires? Your lease will outline your financial obligations should you need to back out for any reason. Some leasing offices and landlords will place a lengthy, "standard" document in front of you and downplay its terms -- not necessarily to dupe you, but rather in an attempt to save you time and allow him or her to move on to other prospective tenants waiting in leasing office. Don't feel pressured; instead, move off to side, allow leasing agent/landlord to accommodate other visitors to office, and continue reading lease until you understand all of its terms. You may have signed many leases in past, leading you to believe that they're all same. They're not. Once you sign lease, you're usually locked into its terms. You'll want to find out before signing what consequences will be if you change your mind before moving day (will you get your full deposit back?). Many consumers don't realize that under law, they're entitled to request changes to lease before signing it. In fact, consumers may request any modification they please, so don't be afraid to propose any changes to its terms. If landlord agrees to your terms, make sure that he or she makes those changes on lease itself (in ink, not pencil) and writes date and his or her initials beside them. And don't leave leasing office without a copy of modified lease. Verbal promises will never hold up in event that you have a disagreement over lease terms with your landlord in future, or if only your landlord had a copy of modified lease (or if changes were made only in erasable pencil).
|
