While a lot of lip service is paid to the importance of rental applications and tenant screening, there are still countless landlords each year who unnecessarily face tenant lawsuits, evictions, and trashed rental properties simply because they neglected to aggressively screen out the bad apples. Here are some specific instructions to help prevent nightmare tenants through strong screening, an investment that pays off many times over.
Many new and part-time landlords underestimate the importance of gathering rental applications from prospective tenants when they list a rental property for rent. From screening tenants, to maintaining records of personal information, to having asset information on file in case of future rent collection, rental applications make up a critical and under-appreciated aspect of being a landlord.
Before choosing a sublet agreement for your property, you must first know what there is to choose from. You'll find out about periodic tenancy, fixed term lease and tenancy at will.
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