Dorchester Apartments for Rent

Renting to People with Bad Credit

One of the biggest drawbacks facing applicants for Dorchester Apartments for Rent is a bad credit history. The reality of apartment hunting is that most property owners require a credit report as part of the application process for their Dorchester Apartments for Rent.

However with the present downturn in the economy the harsh reality facing owners of Dorchester apartment for rent is that most of the potential tenants for their property have blemished credit histories.

The owners of Dorchester Apartments for Rent must balance the risk of renting their apartments to people with bad credit against the financial losses incurred by holding units vacant waiting for an applicant with good credit to come along.

Dorchester Apartments for Rent-Landlord Tips

• Landlords of Dorchester Apartments for Rent can avoid costly vacancies and bad tenants by following these rules:
• Rent to Section 8 tenants who are paying only a small portion of the monthly lease payment.
• Meet with potential tenants in their current unit and use common sense to get a feel for the person. Keep in mind that most people would rather pay their bills and it is lifestyle that turns a good tenant into a bad tenant.
• When looking over the credit report of the potential tenant what are the negative entries that are lowering the credit score. Small amounts for unpaid cell phone or utility bills will pull down a credit score as much as a court judgment for eviction.

I personally had a landlord turn down a tenant with a great union job because there was a judgment for an unpaid veterinary bill for her cat. This lady turned out to be an excellent tenant and the landlord eventually lost his unit to foreclosure because of financial losses due to extended vacancy rates.

Dorchester Apartments for Rent-Application

• Beware of tenants with no income who are relying on any source for first and last other than section 8.
• Credit score requirements should be much higher for single people than for more mature people with families. The most important thing to a parent with children is a roof over their kids head. The most important thing to young people is their social life.

Dorchester Apartments for Rent-Management

• Finally landlords of Dorchester Apartments for Rent should lay out clear guidelines of the conduct they expect from their tenants. You are responsible for the property so you make the guidelines. Visit your property regularly, let it be know by your presence that you are a hands on landlord.
• Answer your phone, fix problems, keep your property up to code at all times and never buy a home with lead paint unless you have the funds available to de-lead the building before offering it for lease. It is illegal to discriminate against children and it is a disaster to have a lead compliance issue with a rental unit with a child living in it.
• Never expect a tenant to live in a unit that you would not live in yourself. Great units get great tenants. My experience as a rental agent leasing Dorchester Apartments for Rent is that Landlords get the tenants that their units deserve. Why would a person with great credit even want to look at a bad unit never mind make a rental application to live there?