Archives for August 2015

Landlords who primarily rent to college students tend to run into specific issues that other property owners may not face. It’s important to be aware of these potential pitfalls and landlord challenges to make the most of your experience as a landlord.

If you own rental property near a college or university, use these tips when renting to college students and other rental applicants to avoid headaches and stay profitable:

1. It’s All in the Lease

It’s crucial to set specific house (or apartment) rules and get it in writing. Establish set policies about occupancy, how many guests they can have over at any one time, and how subletting should be handled should the need arise. Create a “late fee” policy as well as fees and fines that will be deducted for specific infractions such as property damage, not cleaning the unit before they vacate, etc. Put it all in writing in the lease, and make sure each renter reads and signs it.

2. Screen Each Candidate

A look into the background of each potential renter can either confirm their reputation or alert you to red flags about their past. Credit checks, criminal records, tenant eviction records and their history as a renter can all be checked with a quality tenant screening service.

3. Enact a Flammables Policy

Some landlords who rent primarily to students establish a “no flammables” policy for their own as well as the students’ protection. This means that smoking as well as open flames are not allowed; this would include candles, incense and bonfires in the yard. If flammables will be allowed in your property, be sure to enforce the presence of a fire extinguisher on the property and ensure that each tenant knows how to use it.

4. Make Utilities Their Responsibility

Some young adults haven’t yet learned how to handle responsibilities such as turning down the heat at night or making sure the windows are closed when running the A/C. While you might consider including fixed services like Internet or trash pickup in the rental cost, it’s best to make more open-ended services like heat and electric the tenant’s responsibility.

Renting to college students has its share of potential challenges, but it can also be very lucrative and rewarding. Use these four tips to help you connect with high caliber tenants and make the most of your experience while renting to college students.

Disclaimer: The information on this website does not constitute legal advice and is governed by our Terms of Use. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this website and its associated sites.

Federal Fair Housing rules prohibit landlords from discriminating against rental applicants in a number of key areas. These include:

Race. Racial discrimination, whether subtle or overt, is prohibited by law.

National Origin. Favoring those who come from a specific country is illegal, as is denying anyone from a specific nation. In some states, when screening tenants, it’s also illegal to ask applicants about their citizenship or immigration status.

Religion. Denying an applicant on the basis of their religion or giving priority to those of a certain religion is illegal.

Age or Family Status. Landlords cannot turn a renter away based upon their age or family status, including if a woman is single, pregnant and/or has children. The presence of children is not a valid or legal reason for rejecting an applicant. Designating an unreasonably low occupancy limit for any rental unit is illegal as well.

Disability. Rejecting an applicant based upon physical or mental disabilities is illegal as well. When they screen tenants, landlords may not ask if an applicant has a disability or request to see their medical records. Those in addiction recovery (actively receiving treatment and/or attending meetings) may not be rejected based upon their past misuse of substances (unless they were convicted of drug manufacture or dealing.)

That said, there are numerous valid and legal reasons that a landlord can (and should) pass on a rental applicant and continue to screen tenants for more desirable candidates. These include:

Insufficient income. Ideally, if the monthly rent is over one-third of an applicant’s verified monthly income, they probably cannot afford the unit.

Past eviction record and/or negative feedback from past landlords. A poor track record with other landlords is a clear red flag.

Poor credit and/or too many debts. A credit report or tenant screening service can help a landlord to screen tenants and gain insight into the credit history of applicants. Those with high debt and a history of late or missed payments could be problem renters.

Criminal convictions. A criminal record is another potentially valid reason for rejecting an applicant (although it can depend upon the crime and when it occurred in some states.)

Landlords can save themselves a lot of issues down the road by following these guidelines when they screen tenants. A quality tenant screening service can assist in finding many of the legal reasons that a tenant should be rejected.

Disclaimer: The information on this website does not constitute legal advice and is governed by our Terms of Use. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this website and its associated sites.