Posts Tagged 'Checking Tenants'

Easy Guide For Renting Out Your Property To Section 8 Tenants

Posted on: May 25, 2011

Categories: Procedures, Profit

Author: lbuen

Easy Guide For Renting Out Your Property To Section 8 Tenants

Many posts ago, we discussed the merits of taking in Section 8 tenants. Many landlords are lured to rent out their properties to these tenants because HUD’s Section 8 has made things easier for them in terms of minimizing late rental payments; property protection; minimizing turn-over; and shortening vacancy periods. If you want to your rental property business to be virtually stress-free, then follow these steps:

Prepping The Rental Property For Section 8 Tenants

Getting the rental property ready for inspection by interested Section 8 tenants would obviously be the first thing to do. Stage the home to make it more appealing and do not forget about curb appeal to lure them inside. When renovating properties for these type of tenants, go for durability over grandeur. Remember that there is a mandatory Section 8 inspection, so forget… Read the rest

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Section 8 Tenants – 4 Reasons For Landlords To Let Them In

Posted on: January 28, 2011

Categories: Investors, Property Management, Things To Consider

Author: lbuen

Are you walking on eggshells when wooing delinquent tenants to settle their dues lest they might vandalize your rental property? Are you hesitant to acquire and rent out low-cost rental units because you worry about managing problem tenants that commonly rent such houses? You may want to consider taking in Section 8 tenants.

What Are Section 8 Tenants?

These are low-income families who qualify to avail of the Section 8 housing assistance provided by the US Department of Housing and Urban Development. They are given Section 8 vouchers as tokens to their entitlement to such subsidy. Many of these Section 8 Tenants are single mothers with children while a handful of them are grandmothers with grandchildren.

Why Accommodate Section 8 Tenants?

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Tenant Screening: How to Choose a Tenant When All the Tenant Credit Reports Are BAD!

Posted on: September 15, 2009

Categories: Profit, Property Management, Things To Consider

Author: buyfixandprofit

Tenants with a Bad Credit Scores

Rehabbing bank foreclosures, a.k.a REO’s, for long term positive cash flow with little to no money down, will typically require investing in low to middle-low income neighborhoods.  When working in these neighborhoods, there will be times when the pool of tenants to choose from will all have bad credit along with several delinquencies on their credit report.  So how does the real estate investor, rehabber, and/or landlord choose a tenant under these circumstances?

Steady Employment

When credit scores are low and late payments take up the first three pages of the credit report; look for the tenant with a steady a job with at least a year of current employment.  The longer the tenant’s current employment, the better.  Steady predictable income shows that the person is capable of holding on to a job and… Read the rest

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3 Zero Tolerance Red Flags All Landlords Need to Look for when Screening a Tenant

Posted on: September 15, 2009

Categories: Profit, Things To Consider

Author: buyfixandprofit

There are certain items on a tenant’s screening report that should make any landlord deny the application immediately.  Once in a while the landlord will be presented with an exception to consider; be very careful and conservative in your decision.  Remember, once a tenant moves into your rental property, you cannot legally remove that tenant with a baseball bat for non-payment of rent (even though it can be very tempting).

Previous Evictions

Immediately throw this application in the garbage.  Any tenant with a previous eviction knows how to manipulate the tenant-landlord laws in their favor and will more than likely be a headache from day one.  An eviction on a tenant’s record means that they refused to move out, even after getting served the proper legal paperwork by the sheriff.  The landlord  had to actually go to court for a… Read the rest

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