The move-in process begins the landlord-tenant relationship. It’s important for a landlord and tenant to establish a professional, mutually respectful relationship during move-in to encourage a satisfactory working relationship during tenancy. Lease The lease agreement is the legal contract governing the landlord-tenant relationship. A clearly written, detailed lease agreement sets out the terms and conditions […]

Tenant income verification is an essential financial screening to qualify an applicant to rental standards. Independent verification of income is necessary to confirm the applicant’s self-reported income as shown on the application. Verification of the applicant’s income provides the landlord with preliminary data regarding the applicant’s income to rent ratio and some assurance that the […]

A landlord’s business is governed by state, local, and federal law. State statues regulate many aspects of the landlord-tenant relationship including housing discrimination, habitability, tenant rights, rent rules, security deposit rules, required landlord disclosures, landlord access to rental property, termination for violation of lease, termination for nonpayment of rent, unconditional quit terminations, rent withholding and […]

Tenant selection is the most important decision a landlord can make for his business. Selecting the right tenant, a quality tenant, is important to ensure timely rents and protection of the investment property. Tenant screenings are the risk protection measures required for an informed tenant selection decision. Credit screenings utilize credit reports and credit scores […]

New tenant orientation includes multiple tasks: lease signing, a review of important lease terms and conditions, a discussion of rental rules and regulations, the communication of the landlord’s expectations and rental standards during tenancy, a review of landlord and tenant duties and responsibilities as detailed in the lease agreement, the collection of good funds for […]

A critical risk management policy and practice for housing providers is the duty to stay current with applicable laws governing landlord-tenant matters. Housing providers must navigate a complex system of federal, state, and local law that regulate some, but not all, aspects of the tenant screening and selection process to determine legal compliances applicable to […]

Choosing the right asking rent is a key business decision. Setting the asking rent is a decision that can affect cash flow, property operations, tenant satisfaction, tenant retention, and property valuation which can affect a landlord’s ability to sell or refinance the property. The challenge in setting asking rents is determining a rent range favorable […]

A landlord must establish tenant screening criteria before accepting rental applications. Once criteria are set, all applicants must be evaluated to the same criteria. The end goal of tenant screening is to install a quality tenant in a legally compliant process. When a landlord develops his screening criteria he does so with the quality tenant […]

Well developed, written tenant screening criteria, legally compliant, consistently used, can reduce fair housing discrimination complaints. Creating tenant screening criteria customized for business protections requires time and effort to review business requirements, legal compliances, and market conditions. As business circumstances, legislative actions, and rental markets change, so should tenant screening criteria. A landlord must keep […]

To successfully manage rental property, a landlord must understand the rights, responsibilities, and remedies of landlord and tenant as set out in state landlord-tenant statutes, local ordinances, and federal laws. From due diligence research the landlord creates his rental policies and develops his lease agreement and rental practices in accordance with sound business principles and […]