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Screen your tenants and collect money

Bonita Beach Rental Home

How to screen tenants and handle money

Once your property is in the rental loop you’ll need to decide how to screen tenants and how to set up routines for handling money—security deposits and income.

Screen Tenants
You will want to do a credit check and get personal and previous rental references. Then the easiest way to screen tenants is to call them directly on the phone. If they are genuine it will come across in the call. Also, make yourself aware of rental scams. If someone emails you from a free account like Hotmail or AOL with broken English and spelling mistakes, wants to rent your property for an unfeasibly long time, pay you in an unusual manner, or suggest anything else out of the ordinary, BE ON YOUR GUARD! Rental fraud exists and these could be red flags.

Handle Money
Security deposits should preferably be acquired by check and held in a separate client account at your bank. Florida rental owners are required to keep deposits in escrow accounts. The best policy for collecting rent is by checks, too. Having a paper trail may be your best protection against fraud.

Even though most prospective renters are trustworthy, it doesn’t hurt to know these possible warning signs.

If you want to rent out your house and have a Southwest Florida home rental, sign-up for an account on SelectDwelling and list your property today!

 


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