Creating rental standards helps protect you from fair housing claims and you need to provide a copy of your rental standards to each and every perspective tenant and stick to them.
The old adage is true, putting pen to paper or in our case fingers to keys, helps create accountability. So why not take the time to write down the qualifications of any and all tenants? Not only will it help you keep tabs on a qualified tenant but it will help them perspective tenants know what standards they must meet in order for them to rent your property.
Plus employing standards helps protect you from fair housing claims—provide a copy of your standards to each and every perspective tenant and stick to them.
Here are a few things you should consider when creating standards:
- What credit range and income to rent ratio should a tenant have?
- Income requirements
- Past rental history
- Past criminal history
- Application requirements
- Co-signer requirements and information
Want more details or an example? Check out the ARPOLA form by clicking the link below.
Download our FREE Rental Standards document!