First, a few general tips about getting your house ready for show. First impressions count! Make sure that your place is as clean as possible! Throw away any unnecessary items and remove any personal pictures. Most normal people imagine moving into an empty home with no furniture. If you have sentimental furniture from the 80s still in your vacant house, now's the time to get some exercise and breathe heavily while moving it elsewhere. Then make any necessary repairs to your home with licensed and bonded contractors. Next, test everything as if you were living there. From my limited experience, most people dislike taking cold showers and would rather take warm ones. Make sure that doors/windows open and close, hot water works, the heater/ac work, that there are no leaks, etc. So you've finally listed your house for rent on Zillow for free and spent countless hours cleaning, repairing, and sweating. Now, welcome to the jungle... First, have a list of criteria that you reasonably want in a tenant. Criteria that you should definitely use to screen and consider potential renters include job history, credit score, rental history, income, criminal history, pets, reason for moving, bank accounts, and financial history. Tenants who work in corporate America tend to have income that is more easily verifiable with their W-2s and bi-weekly paystubs. Also, they usually have been through a background check prior to employment and hopefully they can't be too loco. If it's a tenant with their own company or retired, make sure that they have more than enough money in their bank accounts to cover months of rent. Besides the initial rental application, be sure to get at least 2 months worth of paystubs, current bank accounts, and a credit score for each person. Be sure this is verifiable, as doctored documents can be provided by unscrupulous people. There are professional renters move from place to place, so be sure to question something if it doesn't add up. It's always better to be safe than sorry. If the real estate rental market is hot in your area and your house is in high demand, feel fortunate. Have you ever collected baseball cards or played fantasy sports before? No worries; your countless hours of comparing each player's statistics is transferable in picking a tenant. Be sure to pick the one that is the most financially stable and fits your time-frame. Are you planning to move back into the house in a year? It might make more sense to pick a tenant who is willing to pay more than another tenant looking to stay multiple years at a lower monthly rent at your house. Are you looking for a stable long term tenant? It could be a better decision to go with someone who has lived in the area for years and has deep roots in the community. Housing discrimination is illegal, so playing favorites is a no go. (http://portal.hud.gov/hudportal/HUD?src=/program_offices/fair_housing_equal_opp/FHLaws) Remember, everything is negotiable. You and the tenant can always figure out who is responsible for the refrigerator, laundry, dryer, gardening, and future repairs. Most people tend to move in the spring, summer, or early fall, so it's best to list your house during that time. Good luck finding a great tenant!
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