When you buy an investment
property, finding and keeping a tenant is very important. I have found that a
little caution during the screening process can save a lot of headaches later
on.
I rely on an intuitive sense of how a prospect
feels to me. While this is an important aspect of a landlord's decision-making
process, following up on your intuition with by checking on the facts is
definitely worthwhile. Have prospective tenants fill out an application giving
employment references and the names and addresses of previous landlords. The
application should also include written permission for you to run a credit
check. In most areas, it is difficult and expensive to evict someone who turns
out to be less than a model tenant. Only after you check their references and
credit history should you allow them to move in.
