how to become millionaire with real estate business_1

_{The number one reason for landlord failure in America is lax or non-existent tenant}

_{screening procedures. And that is exactly why tenant selection is the single}

_{mature, conscientious, civilized, and financially responsible adults are the}

_{lifeblood of any profitable rental property business. The only practical way for a}

_{landlord to ensure that he or she selects only mature, conscientious, civilized, financially}

_{responsible adults as tenants is to screen out immature, uncivilized,}

_{financially irresponsible, management-intensive people. When landlords fail to}

_{properly screen all of their tenant applicants, they lose control of not only their}

_{tenants but also their rental property, which often results in foreclosure and}

_{bankruptcy. The first step in the tenant screening process is to establish tenant}

_{qualification standards, which are based on legitimate business reasons and not}

_{personal prejudices. Once standards are set, they must be applied uniformly to}

_{all tenant applicants. At a minimum, all tenant applicants should be required to}

_{meet the following 10 qualification standards:}

_{and truthfully complete and sign a rental application.}

_{must legibly and truthfully complete and sign a release of personal information}

_{form, which authorizes the landlord or landlord's agent to obtain}

_{personal information about the applicant's credit, criminal, rental, and employment}

_history.

_{pay a nonrefundable, cash rental application fee to have their application}

_processed.

_{states, the legal age of consent to enter into binding written agreements is}

_{18. If you enter into a rental agreement with a minor under the legal age}

_{of 18, the agreement will be unenforceable in court.}

_{valid form of personal photo identification, such as a state-issued driver 's license,}

_{state-issued identification card, U.S. Department of Defense identification}

_{card, or U.S. passport or visa. Do not rent to tenant applicants who do}

_{not have a valid form of personal photo identification to prove who they are.}

_{of the United States. Do not rent to tenant applicants who cannot provide}

_{proof through valid photo identification that they are legal residents of}

_{the United States. Please note that it is a crime to rent to illegal aliens.}

_{have no charged-off accounts, accounts placed for collection, late payment}

_{applicants with lousy credit histories.}

_{applicants must have no violent criminal convictions and no nonviolent}

_{criminal convictions within the past seven years. Do not rent to tenant}

_{applicants who have violent criminal convictions or nonviolent criminal}

_convictions.

_{with no late payments, evictions, or judgments for past-due rent. Do not}

_{rent to tenant applicants with lousy rental histories.}

_{must have a verifiable source of legitimate income equal to three times}

_{their monthly rental rate. Tenant applicants who have no legitimate means}

_{of support may be involved in criminal activity. Do not rent to tenant applicants}

_{who cannot provide a verifiable source of legitimate income equal to}

_{three times their monthly rental rate.}