I am not alone with getting into the Property Management game. As Real Estate Sales started declining, owners naturally think about renting their homes that they are unable to sell. It is always amusing to speak with someone for the first time and the education process that has to occur with a prospective owner about renting their home.

I clearly have not seen it all but have had numerous experiences of homeowners who want a perfect tenant and want the ability to hand pick them from the sea of possibilities. As Realtors, we have had exposure to the Fair Housing Laws and know when something doesn't sound right. Our owners however have not have the chance to bone up on the laws. Our job is to teach them what they can and can't do.

The other factor that comes into play is when people hear "horror stories" from their friends where tenants came into a home and trashed the place. I have found that owners who have lived in the home and then moved out are much more cautious than owners who bought a property as an investment and don't have the emotional attachment that comes along with years of memories, pets, kids growing up, etc.

Picking the "right" tenant is very easy. If their credit, background check and references check out, they are right at this moment...until they screw it all up!