If you’re a homeowner and have decided to rent your property until the housing market gets better you’ll need to find tenants who will occupy your home, right? Do you know how to do that?
The housing market is still weak, consumer credit is weaker than normal and employment growth is still less than wonderful. This means that rental properties are commanding ever increasing rates. In fact, their increasing at their fastest pace since 2007, according to Reis Inc and it’s only going to go up.
This means landlords and property managers can afford to be choosy with who they rent to. But finding those tenants who are dependable, trustworthy and can afford to pay those higher rates can be a bit of an art form.
It can also be tricky.
Homeowners, property managers and landlords must protect themselves from any hint of discrimination when it comes to tenant screening. The US Department of Housing and Urban Development is much like the EEOC when it comes to protection against refusing to rent due to race, color, national origin, religion, sex, and handicap lines. There are also many state and local regulations that influence tenant screening.
If you’re a homeowner with vision of being a landlord knowing your parameters can be critical when seeking a qualified tenant. If you inadvertently or unknowingly discriminate against a prospective tenant you could find yourself on the wrong side of a lawsuit. Some landlord insurance may cover discrimination liability so check with your insurer.
Protect yourself and your assets by turning your property over to a qualified management company. The right ones will know exactly what they can and, more importantly, can’t do when it comes to tenant screening.
National Property Management Group Miami specializes in managing homes for homeowners. We can market your home, find tenants, perform maintenance, and take care of all the things that come with being a landlord. Call us today to see how we can take care of your home and let you get on with your life.