Property Management Blog

The proper selection of residents is often one the most important aspects of property management that affects the occupancy rates of a rental unit. Property management Hampton, VA, advise that you should use caution when choosing a resident. They recommend that the landlord use a standardized rental application form. This form should embody all aspects of the Fair Housing Act to ensure that the selection process is fair and equitable. Using the standardized form and keeping it as a record can save the landlord from any law suits pertaining to discrimination. The landlord might require the resident to have a monthly income of three times the monthly rental fee. This, in the landlord's view, is an indication of financial stability on the part of the tenant. The more disposable income the resident has, then the less burdensome will be the paying of the rent. All the persons who will be sharing the residence must have a first-had view of the property to ensure consensus and to prevent any disagreement later on. Property management Hampton, VA cautions that you should not hesitate to diligently verify the information on the application forms. Carefully reassure the applicants that their information will not be misused, and will remain confidential. One of the better references your prospective resident can have is that of his former landlord, who can attest to the rent being consistently paid on time or not. Property management Hampton, VA suggests that the length of time that the prospective resident has worked with his employer is also an indication of his stability or lack thereof.