school me on renting out a home...

[persimmoncf]

a basic credit check...how do I get this on a potential renter?

This is a first for me. Im a vigin / educate me on how I go about screening.

[HunterJJD]

Originally Posted by persimmoncf

a basic credit check...how do I get this on a potential renter?

This is a first for me. Im a vigin / educate me on how I go about screening.

burn it down and get the insurance money from it

[persimmoncf]

Originally Posted by HunterJJD

burn it down and get the insurance money from it

we will consider that when we have to sell it.

[aps45819 (Premo)]

Log onto CreditReport.com and request the info needed to look them up on your application form

[persimmoncf]

Originally Posted by aps45819

Get their SSN on the application and look it up on CreditReport.com

Is that a free service?

[aps45819 (Premo)]

Originally Posted by persimmoncf

Is that a free service?

try it and see what you need to get a report

[HunterJJD]

Originally Posted by persimmoncf

we will consider that when we have to sell it.

Pay a company to handle everything for you. Most get ones month rent a year for doing. they do the interviews, inspections, court, credit reports all that.

[Roxy1104]

Originally Posted by persimmoncf

a basic credit check...how do I get this on a potential renter?

This is a first for me. Im a vigin / educate me on how I go about screening.

There is a fee for the credit report, but you have the person applying pay you this fee in advance. I have a sample Lease Agreement in MSWord if you are interested. PM me. I've prepared Leases for attorney's I've worked for, plus I used to manage 40 single family homes for a former employer (he was an avid real estate investor). Also, if their credit is not that good because of some bad luck in their past, and if they seem on the up and up now, you can always ask for the first 3 months rent in advance, in addition to the security deposit. This way, if you have to evict them (which could take 1-2 months), you have the rent paid up front.

[Roxy1104]

Also, make sure you verify their employment or source of income, and get at least 2 past references from others they have rented from. Ya sure don't want someone tearing your place up. Also, you can do Maryland Judiciary Case Search if you want to do a background check on them (ALL case types - including Judgements). Vrai has the link to that site.

ALSO, by law, their security deposit and prepaid rent MUST go into an escrow account (non-interest bearing account).

[bresamil (Premo)]

I know someone looking for a rental. PM me info.