Every Landlord's Guide to Finding Great Tenants
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Searching for the perfect tenant? Get the only book devoted to the most important decision a landlord can make!Landlords face many challenges, but choosing new tenants has the greatest potential to affect your bottom line. Every Landlord's Guide to Finding Great Tenants provides dozens of forms and checklists for every step, with easy instructions to fill them out. The 2nd edition has been fully updated to reflect the latest changes in the law in your state, including California's updated rules about checking a potential tenant's immigration status.Plus: The included CD-ROM provides invaluable audio dialogues that show how to conduct interviews and get the information you need without running afoul of the law. Rent.com "How you choose your tenants is one of your most important decisions. Here's an extensive and helpful reference book."
1. Choosing Good Tenants Makes Good Business SenseWhat's the law got to do with it?Is this book for you?Ten ways to keep your rental business profitableHow to use the Landlord's Forms LibraryWhy good record keeping is so important-and how to do itIcons used in this book2. Complying With Discrimination LawsFair housing complaints are numerous and costlyLegal discrimination: Valid reasons for rejecting applicantsRental properties exempt from antidiscrimination lawsTypes of illegal discriminationOccupancy standards: How many tenants are too many?Managers and discrimination3. How to Deal With Current Tenants-Before You Look for New OnesSend departing tenants a move-out letterDo a pre-move-out inspection of the rentalInform tenants of your plans to advertise and show the rentalAsk departing tenants to complete an exit questionnaireHow to work with tenants who are not leaving voluntarilyWhat happens when you can't deliver the rental on time?4. How to Advertise EffectivelyIdentify your marketCreate a Marketing WorksheetUse word of mouthSet up a tenant referral programPost "For Rent" signsAdvertise in the newspapersCheck out rental magazinesPost flyers on neighborhood bulletin boards and onlineUse an online rental serviceMake your own websiteTake advantage of free listings on craigslist. orgList with local employersUse a real estate office to advertise for and screen tenants5. How Should You Show Your Rental?Individual property toursPrivate open housesPublic open houses6. Preparing Your Rental Application and Screening MaterialsYour Rental PoliciesYour Rental ApplicationConsent to Contact References and Perform Credit CheckCredit Check PaymentReceipt for Credit Check FeeConsent to Criminal and Background CheckLegal Status in the United StatesLease or Rental Agreement7. Fielding Initial Questions and Phone ScreeningMake it easy to reach youPrepare a Rental Property Fact SheetPrepare a Rental Property Comparison ChartPrepare a Tenant Information SheetHow to prescreen over the phone or in personCarefully document your conclusionsDealing with on-the-fence callersSchedule a site visitShould you negotiate on the first call or conversation?8. Prepare Your Rental for an Open House or ShowingPrepare the rental unit for an attractive showingPrepare the rental unit for a safe showingPrepare the rental unit for a secure showingHow to plan for and do repairs and refurbishing9. Face to Face: Showing the Rental and Negotiating with ProspectiveTenantsHow to hold an open houseHow to conduct an individual showingTalk with your visitors and answer questionsField questions thoughtfullySell your property, but don't puffHow to negotiate with prospective tenantsDiscussions with disabled applicantsIdentify prospective tenantsWhat's the next step for your visitors?Conduct a wrap-up10. Evaluating Rental ApplicationsLog in every applicationConfirm receipt of credit check fee and consent formHow to review Rental ApplicationsStep 1: Summing up the answersStep 2: Evaluating the application answersStep 3: Rank your applicationsStep 4: Decide how many applications will advance to credit checks andreference checks11. Checking Applicants' Credit ReportsHow to get a credit reportWhat's in a credit report?The limits of credit reportsHow to evaluate an applicant's credit reportRerank your applicationsHandle credit reports, criminal background reports, and tenant-screeningreports carefully12. Checking Landlord, Employer, and Personal ReferencesContact past and current landlordsContact current employerContact personal referencesReranking and rejecting applicants after talking with references13. Checking Applicants' Criminal BackgroundsYour qualified legal right to reject tenants with criminal backgroundsHow to avoid renting to people with dangerous criminal backgroundsThe basics of criminal background checksThe risks of running a criminal background checkThe risks of not running a criminal background checkHow to decide whether to do a criminal background checkInform prospective tenants of your policy and get consentHow to do a Megan's Law search on your ownHow to get a criminal background reportHow to reject following a Megan's Law or criminal background check14. How to Choose and Work With a Tenant-Screening AgencyHow useful are tenant-screening services?Obtain written consent from applicantsHow to find a tenant-screening service (and how much they cost)How to evaluate services provided by tenant-screening firmsHow to use the screening reportAccepting and rejecting applicants based on screening reports15. Choosing Your New TenantWhat to do when you have no qualified applicantsHow to choose among qualified applicantsHow to communicate an acceptanceConditional acceptances and adverse action lettersHow to deal with cosignersHolding depositsSigning the lease or rental agreement16. How to Reject-What to Say, What to WriteTen tips on how to rejectAdverse action lettersRejections: How to say them, how to write themCommunicate postapplication rejections by mail or emailAppendix: How to Use the CD-ROMInstalling the files on to your computerUsing your word processor to create formsListening to the audio filesIndex
