Renting to tenants with criminal history
As a landlord, you are actually giving a stranger key to your own property. It is really very important for a landlord to take extra time to select the right tenant to live in his rental unit in order to protect his investment property. There are ways to differentiate tenants from the good ones to those who may cause problems down the line and here are some ways.
- Abide by the Fair Housing Rules. Even though you desire to have a right tenant for your rental unit, you are not exempted to abide the Federal Fair Housing Act. As a landlord, you must avoid any charges of discrimination by abiding to this act.
- Must have a good credit. Also you may want to have a tenant who is financially responsible. A tenant who is paying his bills responsibly will most likely be able to pay his monthly rent and dues on time without any problem. You have to verify their income and make sure that what they earn is three times more than his monthly rent.
- Run a criminal background check. Make sure to have a valid ID from the tenant to make sure that the information they gave you are true and at the same time for you to know if they really are who they say they are. Remember that any criminal information can be viewed at any court houses for it is a public record.
- Check their rental history. Ask the name and number of their previous landlords (at least two) so that you can talk to them about the tenant’s stay at their rental units. This way you can know if there are any problems the tenant may have caused the previous landlords.
Considering all these can help a landlord choose the right tenant for his rental property and may save him money for those costly evictions and repairs for any damage on the apartment if ever the tenant refused to pay.
Edited on: Monday, March 18th, 2013 12:22 am
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