Choosing to rent out your home can be a hard choice for many homeowners to make.

With the current housing market being in the state that it is in, many homeowners have to rent out their homes because they are not selling. Often it is their first home and there are a lot of emotional ties.

Other times it is for an investment purpose; a form of retirement savings if you will.

No matter how you find yourself renting out your property; acquiring a quality tenant should be high atop your priority list.

Some of qualifications to look for are verifiable income. Remember, income is any monies coming into the house; which includes but is not limited to, income from their job, food stamps, retirement benefits, or child/spousal support. A good rule of thumb is for total income to be equal to or greater than three times the rental amount.

Bounced checks and delinquent payments will show up on their credit reports; make sure you run their credit.

If they have rented before be sure to call their previous landlords. Ask if they paid their rent on time, how they kept the home, if they’ve moved, ask if they got their security deposit back.

If you are on the fence about renting to someone, or you have multiple qualified applicants; examine how they have handled themselves during the application process.

The following are some characteristics to be on the lookout for in a potential tenant:

* They were late to their scheduled appointment to view the home. Depending on the circumstances, their lateness could translate to being unconcerned about inconveniencing others and perhaps not fulfilling personal obligations; such as paying rent on time.

* Return phone calls are placed promptly and any questions are satisfactorily cleared up. If you have a question about something on their application, and your messages aren’t returned they could be hard to reach in the future. Arranging convenient times for maintenance could become very difficult.

* They, and their children if applicable, were not respectful of your home when they viewed it: running through the house, opening and slamming doors, yanking on curtains, etc. If they aren’t respectful of the home with you present, imagine how respectful they will be once you are gone.

Deciding to rent out your property is the first step; the second is who to rent it to. Hopefully after reading this article; it has become an easier step to finish.

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