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re: Pitfalls to avoid, or advice to successfully rent out a house

Posted on 4/1/12 at 4:04 am to
Posted by tigers win2
Baton Rouge
Member since Oct 2009
3844 posts
Posted on 4/1/12 at 4:04 am to
Make any potential renter give you a copy of their credit report. They can get it for free at Credit bureau. If they won't do this: do not rent to them unless they pay several month in advance. I personally would not rent without this.

When they come look at the house, walk them out to their car. Take a look at condition of car and how clean/dirty the car is on the inside. How they keep their car is how they will keep your house. I was told this many years ago andhave found it to be a good indicater.

Get a la residential lease agreement from a realtor friend. I'd you dont know one, ask the person that has it listed for the last 8 months. They should understand.

Other forms can be bought on the net for 20-30 dollars ; application, walk through check list, late notice etc

I always mount a fire extinguisher in the pantry just to help cover any liability issues.

Posted by notslim99
City of Bossier City
Member since Feb 2005
4531 posts
Posted on 4/1/12 at 8:58 am to
quote:

Make any potential renter give you a copy of their credit report. They can get it for free at Credit bureau. If they won't do this: do not rent to them unless they pay several month in advance. I personally would not rent without this.


This is good advice, but just remember...they don't have to have perfect credit. A late credit card payment here, and a student loan there are not deal breakers. First and foremost, make sure the applicant does not owe any money to former landlords. Also, someone with a constant disregard for paying bills, i.e. delinquent utilities, should be heavily regarded as a poor tenant prospect.
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