Owners of rental properties are getting smarter and wiser with regards to renting their home to just anyone. They understand that the risk is high that if they do not do the proper job to pre-screen a potential tenant. Because of this many homeowners are hiring Property Management Companies to find a good quality tenant. As a property management company owner, we are very thorough in screening for a tenant.
We will uncover most of any untruths. There are certain things that are consistent with a potential tenant that has issues with non-pay, evictions or damage to a property. You will usually see that they will put on the application that they have been living with a friend or family member. This is what we call a red flag. There are ways of verifying addresses. We take several steps to check on previous addresses and if we uncover a inconsistency, we may stop right there and deny the application. Additionally credit reports also report on addresses.
There are other places that may come up if there is an eviction. Potential tenants many times don't realize that not disclosing an address they lived in does not mean that won't get "caught". The name or the social security number or sometimes just date of birth will uncover a lot of things about a person.
So as you can see with some of these above comments, it is pretty tough to hide your past. So now due to credit rating, job history and other reasons not only can't you buy a home but you are going to find it more and more difficult to find a rental home to live in when you do the wrong things or are irresponsible in your past rental history.
I mentioned in the beginning that this blog would be about helping you rebuild after you have created a mess even for a rental property and you want to rebuild your credibility. That is what we will end this blog post with. The following are things that you can start to do to rebuild your reputation and the possibility of getting into a home that you like, is desirable and start to rebuild your life.
- Get a copy of your credit report- Once you have that, make a list of the most important items that you should fix or can pay off to help rebuilt your credibility for a landlord. These items will include utility bills that are in collection, cell phone bills in collection, cable or satellite bills in collection. Then once you work on paying them or settling them off or however you want to handle it, keep all your receipts and be honest. Admit when you have messed up and show the work you have done to make it better. This will go a long way for some owners.
- Write a letter explaining why you messed up even if it is to say you were irrisponsible and have had a change of heart. Again being up front will always help. If you whole past is just horrible, only time will probably help you. You may be able to have a family member or friend co-sing or guarantee that they will pay if you don't.
At some point no matter how bad you have messed up your credibility, you can start to rebuild. Making any progess is better than no progress. You need to look at the fact that you will not be able to move ahead in your life untill you start taking some responsibility. Walking away from a rental is a serious matter. The recourse for doing so has been expanded and it will have an effect on the future for you. It can be recorded on your credit, eviction on public records and there are also sites that are being created to be able to pass bad tenant info on a tenant if they do damage, don't pay, leave without proper notice. A person will run out of options eventually and can find themselves in a very difficult situation.
We wish you well and hope that you take the opportunity to follow us here and at our web at http://www.aaarealtyllc.com while we have more information to help you with all of your real estate and rental needs.
No comments:
Post a Comment