Facts on Landlords

Credit Checks on Tenants

• A landlord who has property to rent will look at a potential tenant's credit rating to identify a stable and predictable tenant. Tenants with credit reports that show a consistency in loan payments, job stability and a consistent payment history are good potential tenants for a landlord. When renting property, landlords want to be sure that the tenant can afford the rent and is capable of paying the rent on time. This information comes across from conducting a credit check to find tenants who are financially stable and can handle financial obligations.

Tenant Eviction

• In order to evict a tenant, the landlord has to first legally terminate the tenancy agreement, then file an eviction lawsuit. The first step in the process is to give the tenant a written notice stating the reason for termination of the agreement. For example, a landlord can ask a tenant to leave if the tenancy agreement has a no-pets clause, and the tenant has a pet cat or dog. After receiving the notice, if the tenant refuses to move or get rid of the pet, then the landlord can file an eviction lawsuit with the courts.

Property Insurance

• Landlords must protect themselves financially against tenants who damage the property and compound matters by not paying the rent. Because the tenant does not own the property, natural carelessness on the tenant's part leads to damage inside the house or apartment. The value of the property depreciates due to this damage, and the landlord has to bear the cost of the repairs or settle for a loss in property value. Insuring rental properties is one way to safeguard the value of the property.

Right of Entry

• A landlord may enter the premises while it is rented in case of an emergency like fires, burst water pipes or the heating unit blowing up. A landlord can also enter a rental property with the tenant's permission. The laws vary by state, but the bottom line is they afford reasonable privacy rights to tenants. A landlord can enter a property after giving the tenants prior notice, for the purpose of assessing damages and to make necessary repairs.