When you want to make money with rental similarities you really need to do your homework to make sure your money making engine is firing on all cylinders. One of the many weapons you will need in your arsenal is good quality landlord forms. Now it may seem like I have described rental character as a war with weapons but is it like war and you want the best soldiers, tenants in your character. In this day and age it is hard to tell the good tenants from the horrible ones and in any case may be in between, this is why you need landlord forms to help make sense of it all.
When you meet with a prospective tenant they want a place that is affordable and comfortable and you as a landlord want to make sure that the renter is the most well qualified for the unit you are renting. After you have covered the pleasantries and shown the tenant the unit you should present them with your landlord forms. The questions you need to ask the prospective tenant is first about their employment. You want to be sure that the renter has a stable source of income to cover their rent on a regular basis, since many people are losing their jobs it’d be a really good idea to ask for a copy of their latest payslip and or dated letter of employment from their HR department confirming their position with the company.
Once you know the tenant has enough regular income to cover the rent the next question your landlord forms need to ask is for permission to speak with a former landlord. The information you can get from a former landlord about the conduct and character of the tenant can be priceless. When dealing with people the only way we can predict future behavior is by looking at their past. If the landlord tells you the tenant was a hassle and gave them nothing but grief then you should move on to another possible tenant. On the flip side if the landlord tells you the tenant was good and gave no problems then you can move on with the walk by and signing of the lease.
The last two landlord forms you will need to have your possible renter fill out is the walk by which is an inventory on the items and condition of the unit as you hand it over to the control of the tenant and then the tenant signs the lease for in any case time line both you and the tenant agreed. Rent payments, security deposits and keys change hands and you have begun the time of action of earning rental income with your rental character. There is always risk with investing, with rental character investing having the best landlord forms reduces the risk and makes your life easier.