Ensuring heating and cooling equipment is in good working order.Ensuring plumbing fixtures are in good working order and checking for leaks.Ensuring kitchen appliances are in good working order.Inspecting cabinets and countertops in the kitchen and bathrooms.Inspecting flooring for normal wear and damage.Inspecting walls for paint that requires touching up.Inspecting walls, ceilings, doors, and windows for any damage that needs to be repaired.Additionally, the landlord’s checklist should include: Make a note of everything that needs to be done before the new tenant moves in and confirm which jobs will be the outgoing tenant’s responsibility and which will be the landlord’s. If the landlord hasn’t already inspected the unit in the process of listing it for rent, they should perform a thorough inspection before the outgoing tenant moves out. An eviction record search reveals any eviction history.īe aware that while the Fair Housing Act doesn’t prohibit landlords from discriminating based on a criminal record, blanket policies against renting to people with a criminal history could be interpreted as discrimination against a protected class. Tenant Screening – Perform a criminal and eviction record search for each applicantĪ criminal record search or background check reveals whether the applicant has had any trouble with the law, including illegal activities, and helps to verify their identity. The report will also include any red flags to be aware of, like past bankruptcies, wage garnishments, and legal issues. Tenant Screening – Review details on the applicant’s loans and lines of credit, including credit limits and payment history. Reviewing the credit check information on the applicant’s current and past addresses, as well as employment detailsįor context, a FICO score is a number between 300 and 850 that represents their overall creditworthiness.Ī score over 630 is considered “fair,” over 690 is “good,” and over 720 is “excellent.” It’s worth noting that there’s little difference between the makeup of a “good” credit score and an “excellent” one.Performing a credit check for each applicant.Ensuring the applicant has submitted complete information and not left anything out.Receiving the applicant’s completed application.The first part of the landlord’s move-in checklist for new tenants is completing the rental application. The policy may also set out stipulations for taking on a new renter, like what insurance they need to carry. Landlords should take this time to review the insurance policy to make sure that they still have the coverage that they need, and are getting the best price. The landlord should use this opportunity to make sure they’re still getting the best deal on their mortgage and lines of credit and consider refinancing if it makes sense to do so.Īs time goes on, insurance needs to change. If they’re using the same bank account for personal and rental property finances, now is the time to get everything separated.īaselane offers free landlord banking services with really useful features for landlords that the average bank probably doesn’t offer, like sub-accounts that can help them stay organized and virtual cards to control and manage their spending.Īfter more than a decade of record-low rates, the cost of mortgages and loans is rising. 10 Things Private Landlords Should Know Before Leasing a Propertyĭepending on how the property owner does their banking, the landlord might not get the best deal.Careers Help us build the future of fintech for landlords.Partner With Us Earn up to $250 for each qualified customer referral.In the News Recent press coverage featuring Baselane.About Us Building better financial technology for landlords.Save $100’s on your property insurance See how much you could save!.Security Security is our highest priority. ![]() Product Updates See what we’re building and launching.Help Center Advice and answers from the Baselane Team.Price My Rental See what to charge for rent?.Rental Property Calculator Evaluate your next rental property investment.Blog Tips and resources for landlords and tenants.These policies provide contents coverage and liability protection What is Renter’s Insurance and Why Do You Need It? Renter’s insurance is designed for those renting or subletting a house, apartment, or any other type of property.Renters Insurance Get Renters Insurance and protect your treasures.Rent Payments An easier, faster, more flexible way to pay rent.Security Deposit Security Deposit Accounts for Landlords.Our Customers Landlord Banking Built For All Investors.Financial Services Overview Handpicked products to scale your business.Accounting All your cash flow in one place. ![]() Rent Collection Put rent collection on autopilot. ![]()
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