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Picking your tenants and signing the deal

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Property management isn’t exactly like an online dating game, but you do want to gather information (while following all fair-housing laws to the letter, as covered in Chapter 11) and select a tenant who meets or exceeds your minimum written rental qualification standards. Tenant selection is probably the single step in the rental process that can make or break you as a property manager, so I devote a lot of detail to this important topic in Chapter 11.

With tenant selection, what seems to be a fairly straightforward process can actually be tricky because of the various limitations on the questions you can ask and the information you can request from interested applicants. Follow the same procedure for everyone to comply with fair-housing laws, and determine how you’re going to verify each prospect’s rental application. Be sure to select tenants based on objective criteria and then communicate your decision properly to both approved tenants and unsuccessful applicants.

Property Management Kit For Dummies

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