Becoming a Landlord: Everything You Need to Know About the Rental Application Process

The 2015 American Housing Data Survey revealed there were 48.5 million rental units in the United States. That same year, the Rental Housing Finance Survey divided up property managers into two distinct categories— individual investors and business entities. The first category is what most of us think of when we picture a landlord. By one estimate, there are between 10 and 11 million individual investor landlords, with many only managing a single property. Regardless of how many properties you’re managing, you’ll need reliable tenants in order to make any money in the business. That means finding people who will apply for your apartment. Here are a couple of things to know about the rental application process.

 You’ll Need an Application Portal

Landlords have to possess certain qualities including the ability to be on-call 24 hours without losing their sanity. They also have to figure out the best and most efficient way for would-be renters to fill out an application. In most places, the days of paper applications are long gone. Filling out a paper application is about as common as writing a check to pay for a fancy steak dinner.

So if landlords shouldn’t even bother with paper applications, then what should they use? The obvious solution is an efficient online renters application that’s easy for tenants to access and doesn’t cost landlords much, if anything, to maintain. Look for a template that lets you view critical pieces of information that will help you determine whether or not this applicant would be a good match for your property. If you’re charging rent of $1,000 a month, it makes sense that you want all applicants to be making at least $2,500 a month in gross income, since that’s 2.5 times the monthly rent. The best online application template will let you see that income information as soon as you open the completed form.

You Have to Treat Applicants Fairly

Some landlords wrongly believe that housing discrimination laws mean you have to rent to anyone regardless of whether or not you like them, which is not the case. Instead, they’re designed to protect certain classes of people who are perceived to be more vulnerable. Let’s say you’ve narrowed things down to two finalists, but then you find out that one of the applicants is disabled. In that case, you can’t refuse to rent to someone simply because they use a wheelchair. If you have other reasons why they’re not a good match, that’s one thing, but saying, “This won’t work for you because of your physical limitations” is not okay. It’s also illegal to refuse to rent to someone because of their skin color, religion, familial status, national origin, or sex.

The Fair Housing Act doesn’t apply to every single landlord, though. If a landlord lives in the property they’re renting out, they may be exempt as long as the property contains four units or less. However, even in that case, you still can’t advertise in a way that could be seen …

A Mobile Home Rental May Be the Answer

There are times in everyone’s life when they need a place to live. They might not be able to afford or qualify to purchase a home. Since some of the apartments may be overpriced, they may look into a mobile home rental.

Renting a mobile home may be just the answer to the dilemma of where to live. These types of units are just like homes, only they can be moved. They have everything that is necessary for a person to live. For example, the mobile home will have a kitchen, living room, bedroom and bathroom. There are many of them that a person can choose from.

A Mobile Home Rental May Be the Answer

How Does a Person Find a Mobile Home to Rent?

In order to find a mobile home to rent, a person should do a simple search on the Internet. They will need to narrow down a location that they wish to reside in and put mobile home rentals in the search engine space. This will pull up the mobile homes that are available for rent in that area. When a person is looking through the listings, they should pay attention to what the mobile home has to offer.

Writing Down What They Want

A person will want to write down what they want in a mobile home in a notebook. They should be specific on what it is that they are looking for. When they have a list of what they desire in a mobile home, they should keep the notebook with them wherever they go so that they can refer to it in a moment’s notice. They will be prepared to find the right place to live.

Using a Real Estate Agent

Sometimes it is much easier for a person to have a real estate agent look up places for them. This will free up their time so that they can get other things completed like work and other responsibilities. People have a lot to do, and they will want to be able to get to everything that they can. The real estate agent is aware of the rental mobile homes in a given area, so they will take care of that part of the dilemma.

How Much Do the Mobile Homes Rent For?

This will all depend on how big the mobile home is. Prices will vary according to the extras that are provided in the mobile home. A person should have a budget in mind when they first begin to look for a mobile home. They want to stay within their price range so that they can get what they are looking for.

Next time you are looking for a place to live, remember to check out the mobile home listings that are up for rent in an area that you want to live in. You will be pleased with some of the options that you will have available for you. It may be just the answer to the housing issues you have.…