During the screening process, landlords must ensure that potential tenants are financially able to pay rent on time and in full each month. But answering application questions doesn’t necessarily offer adequate assurance. Responses may be manipulated or may not represent consistent, ongoing income. As a result, property owners may ask applicants to provide proof of …
Author: Rentals America
How Should Renters Show Proof of Income?
What Landlords Need to Know about Rent Abatement
Rent abatement comes up often in reference to commercial properties. But it can also apply to residential leases. For that reason, residential property owners should understand abatement and how it affects landlords’ and tenants’ rights. What is abatement, and when does it apply? Abatement terms can vary among leases. But these terms free tenants from …
Continue reading “What Landlords Need to Know about Rent Abatement”
Factors to Consider when Renting to Seniors
Retirees often downsize from family homes to smaller rental properties. This fact makes senior citizens a significant body of potential tenants. In many respects, seniors make desirable renters since they are often quieter, less prone to recklessness, and are more experienced property caretakers. But the senior population also requires specific considerations from their landlords. Here …
Continue reading “Factors to Consider when Renting to Seniors”
Should I Allow My Tenants to Sublease?
Sometimes, even though a tenant intends to fulfill the lease agreement term, he can’t follow through. After all, life’s major adjustments—relationship changes, job transfers, health conditions, or family deaths—don’t occur at convenient, predictable times. When a tenant moves partway through a lease, he may wish to rent his space to a different tenant for the …
What are the Pros and Cons of a Month-to-Month Lease?
A fixed-term lease is typically the norm for landlords and tenants entering a rental agreement — and for a good reason. Landlords appreciate a stable rental income, and tenants usually want to settle into a homey unit for more than a month or two. But month-to-month leases also hold an important place in the property …
Continue reading “What are the Pros and Cons of a Month-to-Month Lease?”
Where Should I Advertise my Rental Property?
Your rental property is cleaned and spruced up. Finally, you’re ready for a tenant to move in and start producing a steady stream of income for you. But how do you reach potential tenants to let them know your unit is available? Here are some ways to get the word out. Classic Signage: While physical …
Continue reading “Where Should I Advertise my Rental Property?”
What Does Quiet Enjoyment Mean?
Whether or not stated, every rental agreement contains an implied covenant of quiet enjoyment. The promise is implied because it’s a fundamental tenant right under state law and can’t be waived, no matter what is specified in the lease. There is often confusion as to what quiet enjoyment actually means though. Let’s take a closer …
Whitehouse Releases Blueprint for Renters Bill of Rights
The White House has published a memorandum entitled “Blueprint for a Renters Bill of Rights“. While the Blueprint does not create any new law, it does set forth certain actions that federal agencies intend to take regarding landlord-tenant matters. Assuming property owners and managers are already following the law as written, no immediate changes are …
Continue reading “Whitehouse Releases Blueprint for Renters Bill of Rights”
How Can I Theft-Proof my Rental Property?
Theft is a scary prospect for landlords and tenants alike. Beyond the loss of valuables and the hassle of replacing doors or locks, an intrusion compromises safety and violates a person’s feelings of protection and well-being in their home. So what security improvements will make a burglary less likely on your rental property? Here are …
Continue reading “How Can I Theft-Proof my Rental Property?”
What is the Difference Between a Guarantor and a Cosigner?
A screening process with minimum requirements for income, rental history, or credit score is one of the best ways landlords can secure tenants who can pay rent on time. But what about situations where a potential renter doesn’t quite meet those standards but would otherwise make a great tenant? Or what if a tenant lacks …
Continue reading “What is the Difference Between a Guarantor and a Cosigner?”
