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Investment Real Estate >Tenant Tips
When you buy an investment property, finding and keeping a tenant is very important. It's been said that a little caution during the screening process can save a lot of headaches later on.
You can rely on an intuitive sense of how a prospect feels to you. While this is an important aspect of a landlord's decision-making process, following up on your intuition by checking on the facts is definitely worthwhile. Have prospective tenants fill out an application giving employment references and the names and addresses of previous landlords. The application should also include written permission for you to run a credit check. In most areas, it is difficult and expensive to evict someone who turns out to be less than a model tenant. Only after you check their references and credit history should you allow them to move in.
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| Q |
What is an encumbrance against a property, which may be voluntary or involuntary?
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| A |
There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien. |
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