Rental Applications and Background Checks When Renting Out My Condo Good Practices for Landlords to Vet Potential Tenants
Now that you know how to go about leasing your condo, you’ll need to decide on rental rates. It’s a good idea to familiarize yourself with the local rental market and ensure that your rates are competitive. You should also check whether there are any additional fees or charges to be taken into account. Finally, having all of this information will help you make an informed decision when it comes time to find the right renters.
A good practice for most landlords is to begin with a comprehensive rental application. This form generally contains information about the prospective tenant’s job, rental background, references, as well as other relevant data. It’s also smart to perform a background check and credit investigation on potential renters. Doing so can give an indication of the applicant’s financial accountability and any past warning signs.
Conducting background checks and interviews can be beneficial for landlords …