Albuquerque property management
FacebookTwitterYouTubeAlbuquerque real estate property management

Property Management Blog 

5 Common Lease Requirements for Renters

Renting a single-family home will require a complete application and the ability to meet the homeowner’s tenant qualifications. Homes are financial investments for the owner and consequently owners want tenants who will take good care of a property. The only way to establish whether a person is a good potential tenant is to delve into their history.

Whether you’re working with a property management company or directly with a homeowner, the rental application process is likely to involve these items:

  • Credit Check - Applicants who pay their bills on time usually fly right through this requirement. It makes sense that a landlord will want to make sure you make enough money to pay your rent on time. An unresolved or ongoing financial situation, including a series of late payments or a personal bankruptcy, can disqualify you.
  • Criminal Background Checks - A history of violent behavior or child abuse can disqualify an applicant. Pending court cases and past convictions may also cause an applicant to be disqualified.
  • Rental History Verification - Previous landlords are contacted and asked about the applicant’s rental history. Information about whether or not rent was paid on time, a tenant’s behavior, the duration of the former lease and the cost of monthly rent paid can be requested.
  • Income Verification - Current income information may be requested to establish the ability to pay your rent. You’ll probably be asked to provide your last three months of payment stubs or invoices.
  • Security Deposit - Property management companies and homeowners who manage their own rental properties will ask you for a security deposit during the lease signing process. Security deposits are usually equal to a month’s rent. You may be asked to pay more if your rental or financial history doesn’t meet the lease requirements.

Keep in mind when renting a home that you’re accepting responsibility for its upkeep during your tenancy. A rental application is typically required of each adult living in a home. Businesses renting family homes may be asked for additional information and deposits.

Just for Tenants

  • Best Property Management in Albuquerque
  • property management
  • best property management in Albuquerque
  • Residential property management
  • rental market trends
  • investment property
  • Real Estate Investing, Buying Real Estate, Selling Real Estate, Albuquerque Income Properties
  • Property Maintenance Tips
  • Applying For A Home
  • Just for Tenants
  • Tenants
  • Property Management
  • Real Estate, Albuquerque
  • rental home preparation
  • real estate investing, buying real estate, selling real estate, Albuquerque income properties
  • Home Sales
  • Property Repairs, Tenancy
  • Albuquerque
  • Albuquerque; Real Estate Albuquerque; Property Management Secrets
  • Easy Home Cleaning Tips
  • Architecture
  • Rental Market Secrets
  • Property Repairs
  • Landlord Issues and Property Management
  • Tenancy
  • Business Tips
  • property management skills
  • For the Kids
  • New Mexico jobs
  • Top Neighborhoods for Residential Investment Properties in Albuquerque
  • When Do I Replace Exterior Items on an Albuquerque Rental Home?
  • What Do I Do with My Parent’s Single-Family Home in Rio Rancho?
  • Best Months to Put a Home on the Rental Market in Albuquerque
  • Making Your Investment Last: Replace Items Inside Your Rio Rancho Rental Home
  • ML