Landlords – you know the drill. When a vacancy comes up, you put out your ads. Hopefully you’re in a hot rental market. But hot rental markets mean lots of showings if you price it right.
You go through a few people before finding someone to actually rent it. Maybe a few more if you don’t like them. Of course you follow all the anti-discrimination laws. You just find one of the legal ways to deny them.
To use one of the legal ways, you generally have to ask them for an application. They fill it out and return it to you. If you have a really hot market, or you priced it really low to rent it fast, you might receive several applications.
To legally discriminate against a renter (we’re not lawyers here, remember, and this ain’t legal advice), you have to use the legit ways. For example:
- Bad credit
- Criminal record
- Insufficient income
- References from previous landlords who wouldn’t rent to them again if they were the last renter on earth
The trouble…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.