Tenant scams take advantage of unassuming landlords who fail to implement the right procedures for screening renters, writing contracts, and collecting payments. Although scams come in different forms, some of the most common are submitting false employment records, faking credit reports, forging checks and pay stubs, and hiding property damages. These scams cost landlords valuable…
Real Estate Investing & Rental Management
How to Buy a Preforeclosure Home in 8 Steps
Preforeclosure houses typically occur when a homeowner falls behind on mortgage payments, which results in loan default. During preforeclosure, the homeowner can either sell the property or pay the outstanding balance on the loan. This allows an investor to buy a preforeclosure property below market value. To learn how to buy a preforeclosure home, follow…
20 Tips for Buying Your First Rental Property (+ Quiz)
Owning a rental property takes extensive research and decision-making to determine if it’s a viable investment for you. To prepare for getting your first rental property, start by writing a business plan, conducting a rental market analysis (RMA), and reviewing landlord-tenant laws. Additionally, you will need to learn how to fund your investment and use…
How to Find a Great Real Estate Agent: 11 Tips From a Realtor
Finding a great real estate agent can be challenging if you don’t know what to look for. To find a great real estate agent, you must know what you want in terms of their personality, business acumen and skills, and your goals for buying or selling property. A great real estate agent has knowledge of…
20 Best Tenant Appreciation Gift Ideas
One of the most valuable relationships you cultivate as a landlord is with your tenants. A happy tenant not only ensures steady rental payments but also contributes to a positive reputation for your real estate business. Showing your appreciation through tenant appreciation gifts can go a long way in fostering a strong tenant-landlord relationship. This…
Cash for Keys: Removing Tenants (+ Download Agreement)
A cash for keys agreement allows landlords to quickly and efficiently remove unwanted tenants without going through the eviction process. To complete the standard process of this agreement, landlords must make a cash offer, inspect the property, and sign a written agreement to release the tenants. This saves time and money while ensuring quick access…
10 Proof of Income Documents Landlords Use to Verify Income
Landlords must request and evaluate each prospective tenant’s proof of income documents and determine if they are a qualified tenant who can pay rent on time. The most frequent and reliable sources of proof of income verification include pay stubs, tax returns, bank statements, and a letter of employment. However, supplemental forms like Social Security…
Free Rental Application Form Templates & What to Include
A rental application form enables landlords to examine potential tenants’ creditworthiness and capacity to make on-time rent payments. This form includes questions about the applicant’s current living circumstances, financial position, and employment history. The information gathered from the rental application form will provide landlords guidance when assessing a prospective renter’s suitability. Download our free rental…