Posted by Teresa on October 11, 2008 under Tenant Screening & Background Checks | 
An important part of effective tenant screening is a criminal background check. This precautionary measure helps provide safety for you, your property and income, and for your existing tenants.
A thorough criminal background search can also help you to:
- reduce damage to your property
- improve length of occupancy
- avoid evictions and loss of income
Increase your tenant screening abilities by hiring a company that specializes in those services. Visit
E-Renter USA for tenant screening and
background check services.
Posted by Teresa on October 10, 2008 under Landlord Tips |
Once you decide to become a landlord, make sure that your rental property is adequately insured to protect your investment.
Talk to an insurance agent who has experience with rental properties.
- You’ll want to be sure you are covered for more than just fire and storm damage.
- You’ll need additional coverage for vandalism, personal injury, and discrimination lawsuits.
The premiums will be a small price to pay to avoid the risk of much larger losses.
Posted by Teresa on October 9, 2008 under Landlord Tenant Lawsuits |
It is important for landlords to understand the liability placed on them through the actions of tenants! If a landlord allows a tenant who poses a danger to others to remain in a property, the landlord may become liable for the actions of that tenant.
There are many actual court cases holding a landlord responsible. In Rosales v. Stewart (California), the landlord knew that the tenant discharged firearms on the property, and did nothing to stop it. A neighbor child was killed by a gunshot fired by that tenant. The court found the landlord was under a duty to third persons to remove dangerous conditions on the property, even if it meant removing the tenant.
Posted by Teresa on October 8, 2008 under FCRA Issues |
Anyone who wants to view credit information (including landlords and employers) must have written consent of the individual.
In addition to credit information, other related laws prevent medical information from being given to anyone without written consent of the individual.
Additionally, not just anyone is allowed to receive information, even with your consent. If you apply for credit, employment, insurance, or to rent an apartment, you will generally be asked to give consent for information to be released.
You can increase your assurance of FCRA compliance by using
tenant screening services from
E-Renter USA.
Posted by Teresa on October 4, 2008 under Eviction |
No matter how much rent is owed or how many rules a tenant breaks, it’s important to follow the law in your state when it comes to evictions.
It can be very tempting to try to evict a tenant by
- changing locks
- removing their possessions
- turning off heat or power
In the big picture, that is a very dangerous and often costly mistake. A landlord who tries those methods can be liable for damages, penalties, and even a lawsuit from the tenant that will end up costing more than the eviction process itself.
Find out the law in your state, and follow it, to protect yourself and your rights!
Posted by Teresa on October 2, 2008 under Tenant Screening & Background Checks |
Commercial property owners and managers need to do more than just collect deposits and negotiate leases when it comes to filling vacancies in their properties. Managing commercial property includes screening tenants for likelihood of business failure.
According to Bureau of Census information produced for the Office of Advocacy of the U.S. Small Business Administration, new businesses of all size fail at about the same rate. There are differences within different sectors, but the averages are that
- after one year, about 25 percent of businesses have failed
- 36 percent at the end of year two
- 44 percent have closed their doors by the third year
It doesn’t take a lot of fancy math, or a degree in business or law, to understand that even with a signed lease and deposits in hand, commercial property owners can sustain substantial losses when new businesses fail.
Good tenant screening can substantially reduce that risk.
Posted by Teresa on October 1, 2008 under Rents and Deposits |
Even the best of tenants occasionally find themselves in a situation where they cannot pay the rent on time. How you as the landlord handle late or non-payment can make a large difference in your relationship with all your tenants!
Treat Tenants Fairly, but Firmly
The goal is to treat tenants fairly and with some understanding, while at the same time protecting yourself, your income, and your ability to evict tenants when necessary.
- You should be understanding of occasional late payments
- Make it clear to all tenants that continually falling in arrears won’t be tolerated
- Written information to tenants should clearly state what your arrears policy is: Do you have a grace period? Is there a fee for late payment beyond a certain number of days? How many months can they be late before you start the eviction process?
- When a tenant does fall behind, the first course of action is always to speak directly with them to determine the problem. Be sure to document all conversations, just in case you do need to follow through with eviction
Reduce the possibility of late or non-payment of rents and disputed deposits with effective
tenant screening from
E-Renter USA.
Posted by Teresa on September 30, 2008 under Landlord Tips |
Owning and renting properties has become the way to riches for more than one landlord, but before you head down that path to becoming a landlord be sure you know what it takes.
- You’ll need to know that the rate you can ask for your property in your market will be enough to cover your expenses.
- Equally important is to be sure you know what those expenses are! You need to cover not only your monthly mortgage, taxes, and insurance; you also need to plan for routine maintenance, vacancies between renters, and unexpected emergencies.
- You’ll need to be sure you are aware of laws regarding Fair Housing, the best way to attract and keep good tenants, and what to do if you do have to evict.
Once you have all the facts, you can make an informed decision and, if you choose, become a successful landlord!
Posted by on September 27, 2008 under FCRA Issues |
The Fair Credit Reporting Act is Federal law regulating the collection, use, and distribution of consumer credit information.
FCRA was enacted in 1970, and substantially amended in the late 1990s and in 2003, and forms the basis for all consumer credit rights. The law is intended to ensure privacy and accuracy of credit reports.
FCRA regulates activities by:
- consumer reporting agencies
- any person or company providing information to those consumer reporting agencies
- any person or company using the information for credit, employment, or insurance purposes.
FCRA also provides consumers the right to periodically review and have errors corrected in their credit records. The Fair and Accurate Credit Transactions Act of 2003 allows consumers to have easier access to view their reports and dispute incorrect items.
Posted by Teresa on September 25, 2008 under Eviction |
Eviction can be a long and painful process. It is probably worthwhile to try to resolve disputes with the tenant before beginning eviction.
Discuss the problem, see if there is something you can do that will help, but also be very clear about the steps you will take if necessary.
Be sure to document everything you do, and conversations you have, so that if you do need to evict, your paperwork is in good order (including lease and documentation of missed rent and all attempts to resolve the situation).
