4. Have your tenants send rent check to P.O. Box address.
- You don't want them to know where you live! Renters always show up when you are having dinner with your family.
5. Always charge an application fee ($100) to process rental application.
- I always found that I had success with charging a non-refundable, application fee. People are less likely to mislead you when they have skin (money) in the game. You can always apply the deposit towards the applicant's security deposit later on. This application fee covered my costs for:
- Application Processing
- Credit Check
- Criminal History Background Check
- These checks are really necessary to make an informed decision as whether you want to rent to the applicant or not. I had an applicant slam down a deposit for all three months and was ready to move in tomorrow. No one does this so a red flag went off in my head. Sure enough, he had served time in prison for assault with a deadly weapon. Collecting rent from him was going to be tough wearing a bullet proof vest in this Florida heat. P.S. Be careful how you reject people's rental application. There are laws to protect minorities, etc.
6. Ask for picture proof of Driver's License and Social Security # and write it down on right hand corner of application.
- Makes it easier to track former tenants down if they trash your place or owe you money. They have to live somewhere.