Why Successful Landlords do Rental History Verification

Rental history verification is an extremely important step in the tenant screening process.  If a person has been a good renter in the past, chances are they will continue this pattern.  The reverse is also true.

Rental history verification is very straight forward.  You want to speak with the past landlord and find out what type of a tenant the applicant has been.

Ask the following questions:

*Length of time rented?

*Did any problems occur while renting?  If yes explain

*How many times were they late paying rent?

*Do they know why person is leaving?

*Do they have pets?

*Are they breaking the lease?

*Would you rent to them again?

 Make sure you do good rental history verification. 

If you do not have the time to do it yourself, Renting Authority can help you. 

Log into the Property Owner’s Toolbox at http://toolbox.rentingauthority.com/login. 

Select background and credit reports. 

Click the boxes for employment and rental verification, fill in the needed information and we take care of the rest.
You will get your verification reports in 24-48hrs. The Cost is only $6 for Employment and $6 for Rental History verification or $4 each for Monthly Members.  If you have any questions, please email or call.

Next week I will give you some tips on how to do rental history verification.

Visit our new site at www.RentingAuthority.com

Before You Buy Renter’s Insurance

Renter’s insurance is something every renter should have. It is inexpensive, depending on the amount you take out and your area you will likely pay between ten to twenty dollars a month for the coverage. It will protect you from theft and loss from fire. Most people have been robbed or know someone who has been robbed. This policy will protect you from paying for everything out of cost.
What Does Renter’s Insurance Cover?
Your renter’s policy will protect you if you are robbed, or if your apartment burns down. Additionally renter’s insurance includes liability protection. This protection will cover medical expenses if someone is hurt inside your apartment. This insurance will help you to replace items that are damaged or stolen. The liability insurance is also nice, because it will protect the assets and savings that you have acquired.
What Isn’t Covered by Renter’s Insurance?
It is important to realize that a renter’s insurance policy does not cover everything. Most insurance policies will not cover a flood. You will need to purchase an additional policy to cover flooding. This is especially important if you live in a flood plain area. Many apartments will let you know if they are located in a flood plain.
How Much Coverage Should You Purchase?
You need to determine the amount of your insurance policy. When you do this, you should carefully consider the costs of everything you have. If you are robbed, you will likely only need to replace jewelry and electronics. If you are the victim of a fire, then you will need to replace your clothing, your furniture and other personal effects in addition to your electronics.
Read the Fine Print for Limits and Exclusions
It is important to read your policy carefully. Some insurance companies put a limit on the amount that they will cover in different areas. They may limit the total amount that they would pay in electronics to $500.00. If this is the case, then you would need to purchase an additional policy to cover those items. If you work from home, you need to consider the cost of the equipment that you use. You may need an additional policy to cover your liability in relation to your job.
Take Advantage of Discounts for Your Policy
When you purchase your renter’s insurance, it is important to shop around. You can receive a discount when you get it through the same company as your car insurance. You should check for discounts through your job, professional associations, and alumni associations as well.
By Miriam Caldwell, About.com Guide

New Enhanced Background Reports

Landlords and property managers like you, rely on fast and effective information.  We are constantly searching for the best information and solutions for you.
In the past weeks, Renting Authority upgraded our background reports.  We now search over 16,000 data bases to give you the most current national background reports available.
You receive in-depth:
-Felony Checks
-Sex Offender List (most with photos)
-State Level Criminal Checks
-County Level Criminal Checks
-Misdemeanor Checks
-National Criminal Checks
-Terrorist Watch List
Our searches match a person based on first and last name and date of birth.  We also search known aliases.
The sex offender search is broader than the other criminal record searches.  You may see names that don’t match or are similar to the person you are looking at.
This is because the algorithm takes the first three letter of the first and last name and matches with any name with those same letter combinations.  IE Jason Hancock can also match Jasmine Hansen.
As an enhanced feature, most sex offenders have a picture attached with their criminal record.
We want you to have as much information as possible when making your decision.  If you ever have questions about the background report, please feel free to call us at 888-674-9181.
Have a great day,
Troy
888-674-9181
tboldt@rentingauthority.com
http://www.rentingauthority.com

Common Expenses for Rental Properties

Here are some common expenses that you can expect and prepare for when owning either apartment units or rental properties.
* Carpet: Carpet is something that always needs being cared for. Think about it. You need to get the carpets cleaned when someone moves out and moves in. The carpet might get stained or ruined as a result of use or overuse. Carpet may just be old and out of style. When carpet goes out of style it is something that can keep someone from renting the property. Many property owners simply put in high wear carpet that is neutral in color because it doesn’t wear out easily and it matches everything for a long time. Its the way to go if you ask me. Other people will allow renters to do what they want with the carpet. When I owned my properties I would do ‘lease to own’. When someone signs a lease to own it gives them the ability to do what they want to the property which gave me a chance to make a little extra money by getting specific carpet guys or paint guys into the property.
* Paint: Things happen. Unless you are doing a lease to own, never let a renter paint the property. People have unique ideas on color and it rarely turns out right. Also, when someone moves in and out they are inevitably going to do some damage to the walls. Once that happens you will have to paint. Keep gallons of generic paint colors around that you can touch up with that has already been matched to the existing colors. Use basic colors that don’t go out of style and blend easily. You want it to look nice but also you have to think about making money on the property. Money is made by not coming out of pocket for unnecessary things.
* Plumbing: One of the most important things to always check when buying a rental is to look at the plumbing. Look for signs of water damage on the walls and ceilings. Check to see how old the pipes are and if the water is soft water or not. All these things matter because the most expensive type of damage to a home is water damage. We’ve lived in several different places over the last few years. In one home we were using the shower and the water was draining to the garage. It sounded and looked like a rainstorm in there. Water damage almost always causes mold and that can cause health problems for everyone.