Complying with FCRA and complying with the law.
More people than ever are scheming on rental property owners and managers. Whether it's a serial delinquent payer or squatters bouncing from place to place, you need to have a system in place that protects you from such hazards.
Watch TV long enough in the evenings, and you will eventually see an advertisement for free consumer credit checks. Along with a fun jingle, there is usually reasoning behind why you should know your credit score. In the world of rental property and property management, you should also know your tenant's credit history.
While it is important to screen your tenants carefully to avoid mishaps and uncomfortable circumstances, you also have to be careful not to break any discrimination laws when conducting your search for the perfect renter.
Consumer credit reports are commonly used as a method for evaluating rental applications.
While many investors who purchase rental property focus on residences intended for year-around living, there is no denying the fact that vacation rental properties can provide an excellent income revenue.
In order to succeed when you invest in rental properties it is necessary to show your property to potential tenants.