You must make sure that whatever policies you put in place don’t violate any Fair Housing Act (FHA) laws. It’s a good idea to research FHA laws, rules, and other guidelines when considering renting to families with children. Check with your attorney to see what the requirements are. • Will you rent your house to people who have filed for bankruptcy? If so, how recent a bankruptcy filing will you accept? In addition, what are the bankruptcy requirements? For example, will you have different requirements for somebody who filed a Chapter 7 bankruptcy vs. someone who filed a Chapter 13 bankruptcy? • Will you rent your house to someone who has been 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
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