ANSWERS: 4
  • Ask for several references and take the time to contact each one. Do a background check using an online service (http://www.knowx.com for example). Ask for 2 forms of ID with at least 1 being a photo ID (copy and keep on record). Having said that, I recommend that you initially consult an attorney to find out what the local laws are for Renters and Landlord's rights, what forms of screening are legal, and what is legal in terms of rejecting prospective tenants. Additionally, have an attorney prepare a lease agreement. Renting is tricky depending on where you live. For example, I knew a woman who was a Realtor and she rented out a house. The tenant made the first 2 rent payments on time. The third month he could not pay on time, so she let him slide a few days which turned into months. She could not evict him for 6 months because the local law said that since she set the premise that he could "slide", she could not start eviction procedings until rent had not been paid for 6 continuous months. Turns out, he stole identities and had been taking advantage of this little known law for several years. Ouch. And the house was trashed to boot. This is why an attorney is highly recommended.
  • As far as finding and properly qualifying residents for renting rooms, the procedure shouldn't be any different than renting apartments or houses.. You want AND NEED good, clean qualified residents who will pay the rent on-time or ahead-of-time and take proper care of YOUR property. The great majority of landlords, property managers and rental agents KNOW they MUST DO certain things to attempt to get the best tenant for the properties he/she/they own and manage. You should do the same steps as the professionals. WARNING: DO NOT FALL FOR "SOB STORIES" OR BE SOFT-HEARTED. As soon as you give-in to one, you'll be doing it for everyone. The professionals charge applicants for credit reports, which for an extra fee, may include a background check on the applicant's court appearances. You have to verify income. You have to check with present and previous landlords and agents. You should go to see where the applicant lives and see how he/she AND the landlord care for outside AND inside of that property. As far as you are concerned, UNLESS the applicant doesn't meet all of your criteria, that person MUST HAVE a co-signer. Here's some of what you can do to help yourself: Get the daily and weekly paper and look for ads by individual owners. They're pretty easy to pick-out of the rental section. You might even be able to find a "Furnished Room for Rent". Ask the person you are calling how he/she screens applicants. If he/she gives you that info, that's a fair tip or hint he/she knows what to do. Look on the Internet: "Rooms for rent"; "rent by owner", etc. Contact those folks. Equally divide AND rotate the chores around the property. Equally divide the utilities. You could offer to take one of those folks to breakfast or lunch to learn how he/she/they do it. For the first couple residents, allow the professionals to do it. THEN you'll have their lease and you should be able to see exactly how the rental agreement should be prepared and what to do. Renting rooms IS A WHOLE LOT DIFFERENT than renting apartments or homes. Thanks for asking your Q! I enjoyed answering it! VTY, Ron Berue Yes, that is my real last name! Sources: My wonderful family! In the real estate business over 34 years in Pennsylvania. THE ABSOLUTE BEST, MOST WONDERFUL real estate investment group in the world, which I was very proud to be a member of! "THE University of Hard Knocks" also known as ("a/k/a") "life's valuable lessons"
  • The following are points you need to look: 1. A face to face meeting with the person. 2. Ask for Identity card (Voter ID, Aadhar Card etc.) 3. Submit an application to your nearest police station stating that you are going to rent your rooms. 4. Contract and Agreements is must.
  • do a background check on them

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