Landlord Question and Answer Forum

I have been a landlord for about 10 years. I have had ups and downs as it goes but I really feel as if I am not properly screening my tenants to make sure they can pay. I only have 1 unit, and I live in the other half of the duplex. I have had the last 2 tenants have to be evicted for non-payment. What documents do you require to prove they can afford it? Do you calculate a percentage that you feel their rent should be in relation to their income? Do you require pay stubs? What is a good screening agency and what reports do you require? I have seen some online and I can't really tell if they are legit. I don't really want to pay for an annual membership for 1 unit that may or may not be rented annually. Any advice would be appreciated.

Jennifer, a good rule of thumb is that income should be at least 3x monthly rent or more. Ask for pay stubs and review them to confirm that they are recent and not something from a year ago. Do they have stable employment? If they've been at a job only a couple months, and their last job was less than a year, most likely they are not stable. If someone loses their job who is living paycheck to paycheck, they are not a good prospect.

Posted by Dawn A, WI on Thursday, October 31, 2013

Tenant screening is a good idea to avoid problems in the future. I use tenant screening services from Hunter Rentals & Property Management.

Posted by liza r, TX on Friday, November 1, 2013

Thanks so much for your responses.

Posted by Jennifer G, OH on Friday, November 1, 2013