Applicant Decisioning

July, 2022

The tenant screening process finalizes with the decisioning phase to accept or reject an applicant. During the screening process applicants have been qualified to rental standards. Now the decision must be made to offer tenancy to one applicant and notify other applicants that their applications have been rejected. Rejecting an applicant is a business task […]

Landlord Notifications and Disclosures

June, 2022

Landlord notifications and disclosures are business practices required by federal, state, and local laws. The nature of the notification or disclosure and the method of delivery may be specific to the circumstances and the jurisdictional requirements of the rental property location. Notifications There are a variety of circumstances that may require a landlord to provide […]

Rental Price Regulations

May, 2022

Rental price regulations are laws to protect tenants from unwarranted large rent increases and to help maintain access to existing affordable housing. Rent control and rent stabilization laws regulate rents that a landlord can charge tenants and limit the reasons for tenant evictions. A landlord cannot use eviction as a means to circumvent rental price […]

Credit Risk Analysis Using Credit Scoring Models

April, 2022

There is an element of financial risk to the landlord’s business in the installation of a new tenant. Tenant screenings provide risk management tools to assess credit risk by estimating the probability of tenant default on rent obligations. With credit risk analysis, the landlord can make an informed decision acceptable to the landlord’s business model. […]

National Fair Housing Month 2022

April, 2022

April 2022 marks the 54th anniversary of the Fair Housing Act (FHA). During Fair Housing Month the Department of Housing and Urban Development (HUD), fair housing organizations, and fair housing advocates host fair housing activities in local communities to enhance public awareness of fair housing rights. The federal Fair Housing Act (FHA) prohibits discrimination in […]

Ending a Lease

March, 2022

A lease may be terminated for a variety of reasons. The process of terminating a lease requires landlord and tenant to follow certain procedures to ensure the termination is conducted in a legally compliant manner. The contractual relationship of landlord and tenant is a binding agreement between the two parties detailing the lease terms and […]

The Process of Tenant Screening

March, 2022

The process of tenant screening is a series of steps taken in accordance with regulatory requirements and business practices to qualify applicants for tenant selection. The selection of a new tenant is considered the most important business decision a landlord will make for his property operations. Therefore, developing the process of compliant screening policies and […]

Security Deposit Alternatives

March, 2022

Security deposit restrictions by statutes and ordinances regulate the landlord’s policy and practice for the maximum amount of security deposit that can be collected, the time period for deposit accounting and return of available deposit funds, security deposit accounting disclosure requirements, and mandates for deposit installment plans. Recent legislative changes in many jurisdictions requiring lower deposit amounts […]

Tenant Screenings as a Risk Management Tool

March, 2022

Tenant screening is a housing provider’s best practice for risk reduction of financial loss caused by tenant default. Failure to adequately screen applicants creates potential liabilities for the housing provider’s business. With the complexities in today’s rental housing regulations and requirements, avoiding unnecessary business risk is a prudent, business necessity. As discussed in many articles, […]

Defining Rental Relationships

January, 2022

The classification of individuals staying in a rental unit affects the business of property management. Classification of rental relationships determines the rights and responsibilities, and protections afforded those individuals by law. Failing to properly address trental relationships  can create liabilities for the landlord. There are three different types of interactions that can occur between a […]