Predict profits for your rental property.
Let’s assume that your property is renting for $1000 per month. Let’s also assume you collect a $1000 security deposit. Continue reading “Risk vs. Reward, How To Predict Profits”
Tenants Credit Score and Income – What do they mean?
Remember, it takes both a decent credit score, and an income high enough to pay rent to approve a prospective tenant. Never accept less. You need to know both the tenants credit score and income level before you approve them.
A renters income will give you the renter’s ability to pay rent. Their credit score will give you the renters desire to pay rent. Both are required.
Continue reading “Tenants Credit Score and Income – What do they mean?”
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Why is my Renters Credit Score different?
The difference in a renters credit score, and the one you get is this. Many background check companies, such as mcccgrp.com, use a true FICO score, developed by Fair Isaac Corporation (FICO). If you are gong to be a successful landlord, you need to understand the relationship between tenant performance and credit score. Continue reading “Why is my Renters Credit Score different?”
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Why do tenants that look at my property seem under qualified?
The fact is, about 30% of tenants are problematic. They move a lot more than average. They are evicted, they are requested to move, and their lease is not renewed. If 30% are problematic, and they move twice as often as a solid renter, that is 60% of the renters that you see seem like they do not qualify to live in your rental.
Continue reading “Why do tenants that look at my property seem under qualified?”
