Let’s face it. Handing over the keys of your investment property to a complete stranger is pretty scary. You’ve entered a contract for 6 months, 1 year, maybe more with someone you just met. Now, they, their spouse, kids, dogs and who knows what else are moving in.
Did you do everything you could to screen them? Did you talk to employers? Look at paystubs? Check references? Check their credit worthiness? Confirm they are not habitually being evicted? Search for a criminal background?
Landlords can get burned when they don’t do the legwork necessary to land a top-notch tenant who will pay rent on time, take care of the property and not increase the Landlord’s exposure to liability. 3G Properties has the resources and personnel to locate and check out tenant applicants.
Here’s a couple of things you can do to protect yourself:
Have a standard, written application. Ask questions about things you want to verify – Employment? How long? Salary? Current Landlord? Credit history? Smoke? Pets? In-home business?
Decide upfront who you will approve and who you won’t. Someone with a prior bankruptcy? Eviction? Criminal history – felony/misdemeanor? Do you know what Fair Housing Laws say about age, race, sex, familial status, sexual orientation, religious affiliation? Disabilities? Service animals?
Set boundaries that the applicant must agree to up front, in writing - Follow HOA rules and regulations. Pet weight and number limitations. No smoking in the house. No smoking on the deck. How often to mow/water.
3G Properties performs background checks, credit checks, tenant history checks, and more to do everything possible to weed out bad tenants. 3G Properties uses a standard application, has published tenant selection criteria, and the experience to write an enforceable lease for the protection of the Landlord and Tenant. Give 3G Properties a call if we can help you manage your investment properties.
