5 WAYS TO REDUCE OR PREVENT THE COST OF A BAD TENANT Thoroughly screen your rental applicants 1 The biggest mistake a landlord can make is thinking they can save money by not running a comprehensive tenant credit report and background screening. With the current increase in application fraud, it is not enough to just use your intuition or a basic report to select a new tenant. For a nominal charge, which you can pass on to the prospective tenant as an application fee, you can quickly weed out the very undesirable applicants and home in on the ones who honor their financial obligations, have not been evicted in the past and who do not have a criminal record. Don’t be fooled by an applicant who arrives at your property in an expensive car and dressed in designer clothes. They can have all the money in the world and still not pay their bills. AAOA’s Gold tenant screening package can show you their debt obligations, payment history, true identity, previous addresses, and more which may paint a different picture. DON’T BE FOOLED BY AN APPLICANT WHO ARRIVES AT YOUR PROPERTY IN AN EXPENSIVE CAR AND DRESSED IN DESIGNER CLOTHES.
LeaseGuarantee is a unique program that covers rent, damages, legal fees, and costs owed by a tenant to their landlord in the event a court awards a judgment in favor of the property owner. The LeaseGuarantee contract, which is valid for one year and covers all individuals on the lease agreement, can be paid for by the landlord, a qualified tenant or both and the protection is renewable. Every AAOA credit report includes the LeaseGuarantee Analyzer which will tell you if your applicant qualifies for the program and how much the protection will cost for that individual.
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