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Rent controlled: How to find the perfect tenant to make everyone happy

Let's say the situation is as follows: you've just got engaged and both you and your would be fiancee own a home, so you decide to consolidate.
Two houses suddenly become one, and you're not really interested in selling the house for a number of reasons; perhaps you owe enough on it that selling it at the moment is a losing endeavor (you might actually lose money on the deal), or maybe the situation is you're still boyfriend and girlfriend, and you aren't sure if all is going to work out for the long term.
Maybe you just want to get into the rental business and see if you can make a little money on the deal.
Whatever reason, you're about to embark on renting your home, and you'll need to at least pay attention to some key points that go beyond the credit reports, background checks and making sure the landscaping is picture perfect.
Of course, the aforementioned credit report and background check is the best place to start once you've found someone to rent the home. You may want to even ask for a pay stub as well, just to be certain that you'll get the rent money that you're asking for every month. Far too many would be landlords charge $1,000 per month for rent, and end up renting out to a person who has a 700 credit score but makes $1500 per month.

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Something has to give, and it is going to be your patience because you won't be getting rent money on time, if at all.
The background check is equally paramount so that you can see not only if there are any outstanding issues as far as character flaws but some web sites also allow you to see if your would be tenant has ever been evicted from a previous property due to non payment.
As far as the credit check, too, you have to be certain that you're realistic with it as well. And that means you can't get too hot and bothered about seeing a few defaulted payments or even an account or two in collections.
The entire reason behind renting a home and paying more than you would if you bought is the idea that they can't get the financial backing and loan to actually buy a home or they would. If you see consistent payments on the majority of their loans and lines of credit, you'll be just fine.
And while landscaping might not be the most important element of the home, you shouldn't just leave the house alone and not at least make an effort to clean it up a bit and give it a good once over.
That little bit might go a long way toward making your home the rental property you want it to be. Finding the right tenant helps, too.

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