Apartment Tenant Screening Tips

Apartment building investors have been turning to Winston Rowe & Associates. They are a national commercial capital source without the usual up front or advance fees.

As a landlord, you must pay attention to several phases in the landlord-tenant relationship. Tenant selection and lease preparation are key, and this article focuses on that aspect.

When meeting a prospective tenant, you should always take an application if you decide you are interested in leasing to the prospect. There are many forms available. The application you use should identify the prospect, his current residence and landlord. It should also question previous rental and landlord history.

There should also be questions about prior landlord tenant and criminal matters, as well as family and nonfamily references, including contact information and banking information. The application should authorize the landlord to vet the information.

All of this information should be checked. There are one-stop services that do credit, criminal and L/T court checks. Use them.

Call the references. Make sure that all information requested is provided. It is in the interest of both parties to see that this is done. If the tenant does not answer certain inquiries, it raises questions. You may charge a fee to do the checks and verify the information in the application.

At the time of execution of the lease, the landlord should collect the first month’s rent and security deposit. The checks tendered should be photocopied, in the event post-lease enforcement is necessary.

All of Winston Rowe & Associates apartment building financing solutions are offered at competitive rates, so owners and investors can spend less on interest and fees and turn an even bigger profit from their investment in an apartment building or complex.

They can be contacted at 248-246-2243 or visit them online at http://www.winstonrowe.com

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