through a foreclosure, short sale, or car repossession? If so, how recently? Many landlords don’t wish to attract these types of tenants, as they’re often viewed as “higher risk” and “lower quality.” • Will you accept Section 8 tenants? The Section 8 program allows homeowners to rent their property at fair market rates to qualified low-income tenants with a Home Forward rental subsidy. Some jurisdictions require that you accept Section 8 tenants, regardless of your personal feelings. Check with your attorney to see what the requirements are. In the meantime, determine whether you’re willing to deal with Section 8 tenants, because this program tends to involve a lot more paperwork, rules, guidelines, etc., and it’s a much different type of rental vs. somebody who’s paying you rent out of their pocket every month. • Will you accept someone who shows up late to a showing? A late-showing tenant is a red flag. Let’s imagine that you’re someone who’s on time everywhere you go, and you think punctuality is an important indicator of whether someone is a responsible person. You agree to meet with a tenant at 2:00 p.m., but they show up at 2:15; will you rent your house to a tenant who was 15 minutes late? If you decide not to rent to the tenant because of that issue, make sure you are within the guidelines of the FHA. • Will you accept someone who’s breaking a current lease or has been evicted? This is an area that some would-be landlords fail to consider in their minimum qualification standards. Consider whether a potential tenant is breaking a lease with their current landlord — what’s
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