| You have opened your house for rental and have | | | | You can even ask the tenants whether they |
| had couple of applications from some interested | | | | might be interested in buying the property few |
| people. But now, you do not known how to | | | | years down the line. You can lease out the |
| choose the best one who can take care of your | | | | property and rip the rental each week unless the |
| house and still provide you perfect remuneration | | | | tenant eventually looks at buying the house. But |
| each week. Well, if you are in such a dilemma | | | | you can add the option for the tenant to buy the |
| then this guide will show you how to choose that | | | | property whenever they want. So, in case they |
| perfect renter for your rental property. | | | | wish to invest in your property then you can sell |
| What kind of renters you are looking for? | | | | it for a nice profit in few years time. |
| The very first thing to understand while leasing a | | | | The Gut Check |
| house is that your potential applicants cannot | | | | One of the most important things to keep in mind |
| afford a home mortgage because they might | | | | is gut feeling. You may have feeling that a certain |
| have bad credit, lost a job or might have lost a | | | | person might be the most suited candidate for |
| house even because of their financial problems. | | | | the rental property. They might work hard to pay |
| You should understand that most tenants do not | | | | of their rental each week but do ask yourself |
| have enough of financial ability to back home | | | | whether you can risk your time and effort in |
| loans but might have just turned their table slight | | | | working with each applicant for rental. An old |
| with a bit of financial help. They will probably have | | | | fashioned gut checking can help you decide |
| a good rental period for at least 6 months, might | | | | between two equally good candidates. |
| have got a new job and though they have had | | | | Being a landlord can be extra burden and |
| bad credit but they must be taking care of | | | | responsibility but it does bring in extra revenue |
| improving the credit with paying older dues and | | | | each week. Its up to you to decide whether you |
| car payments. | | | | should venture into the real estate property |
| You should understand this situation and look out | | | | business or not. Even if you decide not to rent |
| for tenants who are genuinely interested in the | | | | your property then you can always sell it and |
| property and can pay the quoted rent per week | | | | walk away without having to pay any extra |
| mentioned in the lease agreement. It's fine if they | | | | money for gain taxes. If you are seriously looking |
| have had bad credit history but until they are able | | | | for the rental business then do consult with your |
| to pay the rental that should not be a big problem | | | | real estate agent to find more about the current |
| to the property owner. | | | | rates and expense incurred in rental business. |
| Will they buy your house? | | | | |