Signing a Lease with a Tenant
1) Rental Application
2) Credit Check
3) Signing the Lease
4) Security Deposit
Rental Application
When you have someone interested in renting your property, have them fill out a rental application. A rental application will provide the information you need to pull a credit report, verify past rental history, verify current employment, check references and anything else that might be helpful for you to make a decision on renting to this person.
Here is a sample rental application:
http://www.citicredit.net/applications/Free_Rental_Application1.pdf
Credit Check
(more…)
So you have analyzed your situation, and reached the conclusion that renting out your house is the best option. Now you need to set up a plan of action to get your home ready to rent.
First things first, where are you going to live?
• Are you moving in with a roommate?
• Are you going back with mom and dad?
• Are you renting an apartment?
• Are you sleeping in the car? (more…)
Step 1: Renting vs Selling - Analyze Your Situation
So you’re at the point where you are not sure what to do with your house. You are in a scenario where you either cannot afford the monthly mortgage payment or where you have to move, but your house is now worth less than your mortgage balance. What do you do? Let’s take a look to see if renting out your property would be a smart move. (more…)
Introduction - Economic Overview
This article is aimed at anyone who has bought a house in the past few years.
If you thought the 2007 real estate market was bad, what do you think of 2008? Forget about just the real estate market, what about the whole 2008 economy! Even Alan Greenspan admits that there were errors1 on the Fed’s part in regards to the current housing downturn and credit crisis. If we had just paid a little bit more attention to what Warren Buffet and Charlie Munger2 said in 2005, “he and Munger issued stern new warnings about the residential real estate ‘bubble’” and “the destabilizing effect of hedge funds on the financial markets.” (more…)
