by Lisa Orme

Created on: September 07, 2009

So you're looking for tenants to fill that empty apartment? How do you make sure you get one of the good ones instead of a problem tenant. Or worse yet, one that reminds you of the movie Pacific Heights? The biggest problem is there's no way of knowing what the "good tenant" looks like. You know, in this case, the cover of the book doesn't necessarily reveal anything about what's inside!

Even so, there are a few precautions you can take.

LEASE AGREEMENTS. First of all, have your application and tenant agreements on hand before you start the tenant search. Be familiar with what your lease says and what it doesn't say. Know, BEFORE the prospective tenant shows up, what your pet policy is and stick to it!

SHOW ME THE MONEY. Financially qualify all renters-no exceptions! Make sure they can afford to live in your apartment. A renter trying to pay more than they can afford is a big reason why the rent payments start coming late. Yes, people's situations can change, but don't set yourself up for problems by not doing the minimum pre-qualification at the beginning! Rent should be to no more than 1/3 of the tenant's take home pay (assuming straight pay without overtime). Ask for paystubs or other proof of income. If they insist they can pay more, you'll want verification of a history of them doing exactly that, or a really strong motivating factor. Be careful about accepting their statements about what they get paid "under the table" or unreported "tips". It may be that the money is not from a legal source.

GETTING TO KNOW THEM. Interview your prospective renters, but have a prepared list of questions that you use consistently as a starting place. This will help avoid any appearance or incidence of discrimination (whether intended or not). Don't be afraid to ask someone to elaborate if their answer to a question makes you think twice. You may have just unearthed a "red flag" and saved yourself a big problem later.

In addition to financial questions, some other questions to consider:

1. How many people will be living in the apartment? How are they related to whoever is signing the lease? While you cannot discriminate on family status or children, town ordinance may limit the number of people per square foot or per number of bedrooms. If your property is served by a septic system, health codes can also come into effect.

2. Do they have any pets? What kind? How big are they? It's up to you to determine what type of pets you will allow, and it's best to have a written

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