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PendoRent

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Posts: 5
Reply with quote  #1 
Hello new landlords,
Here's a guide to help you find the perfect tenant.
http://www.pendorent.com/blog/9-ways-to-avoid-high-risk-tenants/


Please, let us know if this has helped you in any way.
troy201

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Posts: 1
Reply with quote  #2 
Informative post specially pre-qualify section sharing compulsory questions we should ask to the prospective tenants. But tenant screening software also very helpful to check tenants background you forget to mention.
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  Troy Roy
VerticalRent
NoNonsenseLandlord

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Posts: 178
Reply with quote  #3 
I screen lots of tenants.  Avoid tenants with a sub-600 FICO score.  There are a lot of scores out there, make sure you use a FICO score.
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http://www.NoNonsenseLandlord.com/

Landlording for maximum profitability and Financial Independence

foodonthego

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Posts: 8
Reply with quote  #4 
these ideas are very useful to me.................
mrcanada976

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Posts: 4
Reply with quote  #5 
One thing I found that was helpful is I built a separate addendum to the tenancy agreement that explicitly states that late payment will be charged at $10 per day and that these fines are considered part of the mandatory rent and utilities.  There's a lot of other stuff in there specific to room rental that is beyond the scope of this post.  Depending on the total amount of rent, you may want to increase or decrease it to a reasonable but stiff penalty.  

I also make them initial that upon any late payment a 10-day notice to evict will be issued as a standard operating procedure.  I do give them the grace that they can request alternate arrangement 7 days prior to rent day but advise them that I always have the option to say no to it.  So if they pay on the last day of the evict notice I make an extra hundred bucks for my heartache.

I've found some prospective tenants get to that point and get squirmy.

Prior to that I'd have the usual "Oh I'll pay you in a week" when I asked about the rent where they'd use me as a personal credit card, which sometimes led to another few days or another week until they got so far behind that I was stuck doing an eviction I should have done several weeks earlier and lost a whole month.

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--------------------------
Subletting 2 rooms with written agreement 
PendoRent

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Posts: 5
Reply with quote  #6 
Hi MrCanada976,

Thanks for sharing. Just wondering why you don't include the late payment and penalties as part of the tenancy agreement?

Cheers,
-Pendo Rent
BritneyR

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Posts: 224
Reply with quote  #7 
Very useful article. I would like to add one more point which is  maintaining a clutter free home. It might also help.
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Hunter Rentals & Property Management

alexiscooper5

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Posts: 28
Reply with quote  #8 
Its a very informative article. Thank you very much for sharing this with us.
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Simply Residential Property Management
alexiscooper5

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Posts: 28
Reply with quote  #9 
Hey,
Can you please share some more tips with us?

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Simply Residential Property Management
AccidentalRental

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Posts: 32
Reply with quote  #10 
Here are some tips I put together for new landlords - Top 50 Landlord Tips for New Investors 

I hope you find it useful!

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Domenick | AccidentalRental - A profitable resource for new landlords

Sanchez_Himenes

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Posts: 4
Reply with quote  #11 
Hey guys, check out new blog for both tenants and landlord. 
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Whether you need background check or credit report for your tenant just follow Rentberry
mikebuss

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Posts: 7
Reply with quote  #12 

Hi all,

I've been a landlord for about 4 years now. This summer I will be a tenant in another province while keeping my property at home. I've been frustrated with aspects of both the renting and leasing process and would like to create a product to change that.

My co-founder and I are looking to create a website that improves on the existing home rental sites that are out there...we want to make something more usable and easy to navigate for both landlords and tenants.

We are currently gathering info from a google survey that we made. If you would take the time to fill it out it would be greatly appreciated. I would love to get your perspective on what you think would be a useful product for you.

The survey is very short (12 questions). Here is the link:

For Tenants - https://goo.gl/forms/VgpChqb82qLu301T2 

For Landlords - https://goo.gl/forms/gedrA6BllxJaHKxr2

Thanks so much!

danielrussell

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Posts: 3
Reply with quote  #13 
You have to make sure to screen your tenants with a reliable screening company!
And only using credit reports will not be ok. Many tenants these days are finding fake credit stubs. 

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Daniel Russell
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