Making Money with Rental Properties by Kimberly Smith & Kimberly Smith & Lisa Iannucci

Author:Kimberly Smith & Kimberly Smith & Lisa Iannucci
Language: eng
Format: epub
Publisher: DK Publishing
Published: 2014-01-06T16:00:00+00:00

Approvals and Denials

In a perfect world, everything about your potential tenants check out and you can let them know they can rent the property. All you need to do now is make arrangements for them to complete the lease and other rental documents.

But sometimes tenants don’t check out. You can always say no to a potential renter if they have bad credit. No laws protect people under these circumstances.

However, if everything else checks out, you might still want to rent to them. As a result of the past economic downturn, many people now have bad credit. It’s no longer a black-and-white issue when qualifying a tenant.

If you do decide not to rent to them, you’ll need to let them know you’ve denied their application. If you deny a tenant, you have to give that person a good reason and an explanation of why you denied him or her. It’s important for you to properly communicate the denial and avoid any possibility of discrimination. If you decide to deny tenants because of their credit history, you have a legal obligation to notify them of the reason for the denial. You can always deny a renter if you find a lie on the application.

To protect yourself from any possible litigation, properly complete a written denial letter. We give you a sample letter in Appendix C.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.