top of the rent. Find out the standard — as well as what’s legal — in your area. • Will you allow smokers? Smokers can cause of lot of issues for landlords and homeowners; as a result, most prefer non-smokers. This allows for fewer issues with the home (smell, stains, etc.) and higher chances for a continued influx of good tenants. Smokers are not a protected legal class under federal laws, so you are legally allowed to refuse tenancy to smokers federally, but you might want to check with your attorney to ensure smokers aren’t a protected legal class under state or local laws. If you do decide to open up your home to smokers, think about the specific requirements, such as smoking outdoors only or a certain distance from the home. • What are the income requirements? Income is another major area to cover. After all, you need tenants who can pay their rent — in full and on time! In most cases, this means checking the tenant’s paystubs to make sure they earn a minimum of X. Some jurisdictions require you to accept all sources of income, whether a paycheck or child or government support; your attorney can advise you on local requirements. You’ll also need to think about types of income, such as regular employment, self-employment, seasonal employment, unemployed or underemployed but receiving benefits, child support, Social Security, etc. What are your minimum standards in these situations, and what are you actually comfortable with? Remember, you want to reduce risk and also keep your peace of mind every month, knowing that your rent money is coming!
Then you’ll need to go through steps for verification and proof,
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