Tenant Screening Buffalo NY

provided by:

So it's time to find a tenant for your property and you're wondering how to go about finding the right tenant. Or perhaps, like many others, you're hoping that the right one just falls into place. Letting chance decide whether you find a reliable tenant is a risky proposition. This article will explain how to screen prospective tenants to ensure consistent cash flow and avoid losing money on lost rent and eviction fees.

Find good prospects

Begin by advertising to create a pool of applicants from which you can choose the best. Advertising doesn't have to be extravagant; start with Craigslist (the price is right) or Roommates.com if you're just renting out part of a property. Remember that some listing sites are often skewed toward a tech-savvy, younger demographic. You may need to list the property in a classified ad in a publication whih is read by your target clientele.

 

The rental application

The phone's ringing! Now what? Find a rental application form online. You will need to get all of the tenants' full names, social security numbers, dates of birth and current addresses to pull credit reports. Also, record their employment information, including position, supervisor (and his/her phone number) and income. Tell interested applicants when you will hold an open house and make sure that the time is convenient for conventionally employed applicants. Finally, tell them how much the application fee is. This is critical: always charge an application fee ($20 is typical) for two reasons:

Click here to read the rest of the article.

NuWire Investor is an online publication that offers quality information about alternative investments such as real estate, commodities and franchises.

Author: Brian Davis
Copyright © NuWire Investor and NuWire, Inc 2007. All rights reserved. NuWire Investor material may not be copied, reproduced, redistributed, published or modified without the prior express written consent of NuWire, Inc.