rent and damages, and even lawsuits.
Minimum qualification standards also help reduce the risk of an FHA complaint and will make things easier for you in defending yourself in case a complaint does arise. Let’s say someone does file a complaint against you, claiming that you discriminated against them by not renting your house to them because of reason X. With minimum qualification standards in place, you can confidently reply: “Actually, I didn’t rent to you because you didn’t meet my minimum qualification standards. Your allegations of discrimination have nothing to do with reason X. I didn’t rent it to you because of reason Y, and you did not qualify to rent my house. My minimum qualification standards are legal and in compliance with all FHA and ADA laws.” I recommend that you think about, determine, and put in place your exact minimum qualification standards before you ever place your property on the market. Seek the advice and counsel of a real estate attorney that you hire!
Suggestions for Minimum Qualification Standards
Everyone will have their own basic and more specific ideas for their minimum qualification standards when they’re thinking about how they will screen tenant candidates, but here’s a list of some different standards to consider. Keep in mind that these are suggestions only. Please check with your attorney to ensure they are legal for your particular property and that you’re in compliance with any and all laws and regulations, which often vary by location. • The minimum deposit you’ll require. Most people charge a security deposit equal to one month’s rent. Some add a
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