Richard Davis - GET THE MOST MONEY FOR YOUR REAL ESTATE INVESTMENT

they gave the landlord proper notice before moving, whether the tenant received their entire deposit back, and whether this landlord would rent out to their former tenant again. Essentially, you want the former landlord to paint a solid picture of what kind of tenant that person was, because it’s indicative of how they will be for you. • The tenant’s personal appearance. First impressions matter! What are your own standards and policies for a potential tenant’s outward appearance and hygiene? • Will you require every person over 18 in t r 18 in the house to apply? I recommend you have every adult who will be living in your home apply. What if the main applicant is “clean” and meets all your requirements, but the others have low credit, no job, a criminal record, or poor tenancy history? Even if your potential tenants are two parents with young adult children, have these children apply, too. You need to know who will be living in your home! You don’t want to be held legally liable for adult children who engage in criminal behavior because you didn’t bother to have them apply. You’ll want to avoid this situation, too: Many groups of people will try to rent a house together and have whoever looks “good on paper” fill out the rental application, while the others, who don’t look so “good,” move in later. Do the same with any co-signer on the lease. Put some policies in place as part of your minimum qualification standards. For example, a co-signer should have good — if not great — credit. Maybe you’re thinking this is overkill, that these questions are too in-depth, too “over the top,” too unnecessary, too nosy, too, well, stupid. But don’t forget: You’re letting other people — strangers 88

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