Make sure you run a full credit check on any potential renters before you even consider renting to them. If they don't pay the rent, the eviction process is tedious, and will end up costing you money.
In selecting a person to rent one of your rental units is a gut feeling, even though you have all the items and documents you require that would cause you to make a decision as to if you would rent to a person or not.
Even though there are some that have ideal rental history, appear to be financially secure, there are, at times, a gut felling that is telling me "NO", sort of like screaming. When I have ignored this feeling, I have found out I have abuser, drunks people that have no respect for other tenants and eventually had to evict them for illegal activities.
Bad things happen to good people. It might be that in addition to your normal paper work and documents required of you to make a decision as to if you would rent to a person, you might dig a little deeper to find out the cause and reason of this financially discretion.
It might be that one or more was laid off from their job, an emergency medical situation, a reduction in pay. Many things happen in ones life that prevent them from living up to their financial responsibilities.
Ask these potential tenants to provide you a letter as to why they had this foreclosure and their financial situation at the time. Interview them at length, watching their body language and the way they answer your questions.
You would get a gut feelings as to if you would want to rent to these individuals or not. At times it is not a cut and dried situation.
There are some that need a helping hand for something they had no control over or could not prevent.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
Renting to someone that has a history of not paying is a bad idea.
Yes.
NO, you will only have headaches and unpaid rent.
you to consider more than that in deciding if you will rent to someone and so do I
