WHAT TENANT’S SCREENING INCLUDE’S ?

Tenant screening, it is processed which is used by residential landlords and property managers to evaluate the prospective tenants. The purpose of tenant screening is to assess the likelihood tenant with full fill the terms of the lease or agreement, and also it will take care of the rental property in their question. The process is ending with the decision of landlord approval or disagrees. With the approval renter may deposit some amount or renter may deny due to not submitting the amount.

Tenant screening process

The tenant screening process begins with the completion of the rental application, paying fees of application fees and holding a deposit. Rental application is used by landlords/homeowners to renters who visited or viewed their rental property or who interested in their homes for rent. Rental application is designed to collect the personal information of renters, which usually consist name, social security number, date of birth, address, employment, criminal record, eviction history, etc. Rental application requires an applicant signature as self-attested, which verify that all information are filled by applicant are true and verified and agree to follow the certain terms & conditions. A valid government issued identification with photograph is required in this process which is used for identifying the theft of red flags rules by the Federal Trade Commission’s (FTC’s).

Tenant screening reports

To complete the process of tenant screening report, it strictly one or more elements which are following:

Credit report 

A credit report comes with the information of all credits such as current loan payments & past status.

Eviction records 

In eviction records, records of eviction, which is used by landlords in case of when renters/tenants failed to comply, pay, vacate within the specified time for their homes for rent.

Criminal records

A criminal record, relates to that person who involve in any criminal activity or against the law. It involves all records like pending cases, current case, charges, arrest, etc.

Sex offender registry search

It is a system which is used by various countries to keep track of the residence and activities of sex offenders, also included who have a criminal record.

Specially Designated Nationals (SDNs) search 

SDN’s deals with individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called "Specially Designated Nationals" or "SDNs." Their assets are blocked and U.S. persons are generally prohibited from dealing with them.

Rental references

Every time when a renter visits to landlord to final the deal of home rentals, landlord may ask for to provide references and documents that show you are responsible enough to pay rent.

Employment verification

It is the process of verifying the employment, eligibility and past history of work of the applicant.

Recommendation 

Its depend on the landlord, whether they accept the renter with the recommendation letter of the landlord.

LEASE VS RENT(DIFFERENCE & COMPARISON)

A lease is a contract for specific time it may be 6 or 12 months after which contract will expires, and the rent payment shall be made within the terms & conditions of the lease. Real estate leases are also called rental agreements.

Lease is a contract renting of land, building etc. for specified time period to a person or firm. The payment made to owner of a property for the usage as determined by the lease or rental agreement called rent. The length of lease is 6 to 12 months and it can be modified as per need but two or more parties should be agreeing in the lease. Rent payment can be made for long as lease requires it. Lease managed by property owner and Rent managed by tenants who pay the rent to use the rental property.

Relationship - Lease and Rent

In real estate lease is contractual agreement that define the terms of the use of property. This will includes that what is being rented & for how long with other conditions. Whereas rent is the payment made to owner after some specific time for the use of their property, which can be a building, residential space, house, apartment, room, lofts, condos, etc. But in business cases rent is the payment or series of payments made to owner of the rental property for using it, such as equipment, vehicle, machine, etc.

Time & Payment

Leases are mostly set for the period of 6 or 12 months, but it may cover more or less time. The rental agreement word relates to lease. Because lease is contractual agreement, both the parties are obligated to abide by it for the mentioned duration. But rent must be paid on time as per the agreement, if in case rent is late then late payments charges can be apply and same as it can be lies on the lease.

Month-to-Month

When the lease expires, renters are automatically move to month to month rental agreement until both parties will sign the new lease with the new expire date and both parties move back from month to month agreement.

Month to month agreement come with various pros & cons for the both parties. As a tenant, month to month rental agreements give the freedom to move out anytime, without any worry about transferring or breaking the lease agreement. But for the property owner, it will make rental income uncertain.

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5 Big Design Trends to Try Right Now

Every year home pattern changes but it’s never late to try something new. Update your decor ideas foryour homes and impress your friends and family members.  Here, some of the latest ideas that will help you to design your home.

Famous Colour of the Year

Iconic People come up with their colour of the year that will not only help in decorating the home but also helps in fashion and other design programs. For 2016, the famous colour is going green. Green gives peace and fresh breathes. People used fusion of the colours from kitchen to each room and brighten the home. Moreover, colour can be used anywhere even if you have a rental housing properties.

Flower-patterned

This year holds strong pattern of bundle of flower. You can decorate your room with the flowers like you can place under your pillows, sheets or duvet covers with big bright floral. You can place a scenery and frame of flowers on a wall to give a unique look to your room.

Blue & Blue

This year compliments to blue colour which gives you a feeling of living in sky or a paradise on earth. What's more, with regards to blue, think each shade- - from beautiful sky blue dishes showed in your kitchen, to darker naval force and white striped towels in your restroom.

Vintage

Everything old is new again yet the uplifting news is blending and coordinating is absolutely alright. An upset old-trunk serving as an end table or great antique maps confined and held tight the dividers, not just serve as wonderful, on-pattern style pieces, yet include a ton of interest (and friendly exchanges) to the room.

Warm Metals

Hotter bronzes, gold and dark are supplanting smooth chrome and stainless steel with regards to lighting and cabinetry complements. What's more, in case you're truly hoping to make a major sprinkle, attempt some bronze sconces in the kitchen. You can place some designing metals on entering.

RAISE RENT WITH MINOR UPGRADES

When your rental property looks like too old or become too dirty, then you should have to take steps to make it more clean and attractive. Any tenants or renters will not pay a good amount of rent for old and dirty rental property. If you want to increase some rent, then you have to make some decoration with cleaning. There are some ideas which will help you to make your rental property attractive and tidy:

it yours too

When you are going to clean, upgrade and renovate your rental property, then you should keep in mind that it is your home too and you are the owner. So it is your responsibility to make your home tidier with working equipment’s when renter takes a visit. When your renter vacant your rental property, then you should take responsibility to clean and maintain well, any damage should be repaired, repaint job, fixture of electrical fittings, etc. & also don’t try to make a temporary repair make a permanent solution. So it is better to treat your rental property as your own home, because any major damage to your rental property will cost to you not the renter.

Give right Vision

Whenever renters will take a visit to your rental property, you should show each and every part of your property and tell them about damages and repairs. Open all the blinds and show them the natural light, turn all light on, it is better if you bother or light color paint, it is better to place some extra light lamps. Because the more light will looks your space wider.

Repair & replace

When your renters vacate your rental property, it’s your turn to check the home for rent that any repair or any replacement is required or not? After a duration of months or years, some things need to repair or replace, because by passing of days and usage in daily routine will damage them, like doors, knobs, carpets, walls, ceiling, fans, etc. You can take help from professionals, to repair the damages , if repair is temporary then you should try to replace it, because sometime minor damage will lead to major damage. So don’t ignore the minor issues try to solve it before new tenant move in.

Kitchen or bathrooms

Nobody wants to cook in old types of kitchen, and washing themselves in the old and dirty bathroom. When renters take a visit to your rental property, they will surely ask and visit in these rooms. As a landlord you have to spend some cash on both kitchen and bathroom, if they look like 1970’s. You can visit to the nearest market and check about the latest accessories related to bathroom and kitchen. You may also take help from professionals, they will cost you, but they do their job with 100% perfection.

Cleaning & Fixing

Cleaning your home rental is a big mess when but it's become more difficult when fixing task is added within called fixing. There is a lot of dust with some bugs is taking place in your home for rent, you may take help or hire professionals like pest control they will work for you. Due to non-usage of item i.e. electrical or non-electrical, for a long time in duration of vacant of your rental property, these items will stop working or damage like leakages of gas line or water line, thermostat, electrical bulb or lights, taps, etc. so you should take care of these things. You can replace with some latest trends so that you have some reason to raise some rent.

Landscaping

We always forget about the best thing to add in our rental property to attract the tenants that are naturally in our property. You can add some flowers, artificial grass, etc. it’s up to you that what kind of thing you want to add in your rental property. While you are adding landscaping in your rental property you should know that these things should be low in budget and easy to clean. You may add trace garden or put some flowers in balcony. When you add gardening stuff your property will look neat and clean and more attractive than other properties. If you don’t want to add any these type of things then you should clean your rental property outside too, make when tenants take visit to your property, your rental property should look neat and clean from outside too same as inside.