How to Screen Mid Term Rental Guests & Deposits

Introduction

Screening your guests is an important part of renting out your property. It can help ensure that you only have good tenants, who are likely to pay their rent on time and take care of the home.
Screening also helps protect you from being taken advantage of by people who might be for a place to live without paying any money up front. They may also try to get away with not paying rent or other fees if they know they won’t be around long enough for you to go through the trouble of evicting them.
If someone does try something like this, it’s best not just for your own peace of mind but also because it could mean losing money in legal fees if things don’t work out as planned!

Security Deposits

A security deposit is a sum of money that you hold on to in case your guest damages the property or leaves it in a state that isn’t acceptable.
The amount of your security deposit should be determined by what you can afford and how much damage you expect to have done. For example, if your house is old and has some wear-and-tear, but nothing major, then perhaps $200 would be sufficient for a mid-term rental guest who stays for two weeks. On the other hand, if there are lots of valuable items (such as artwork) or expensive appliances (like an oven), then maybe $500 would be better suited for those situations where there’s more risk involved.
You should always ask guests if they have any allergies before accepting them as tenants so that no one gets sick while living together!

Pet Deposits and Fees

A pet deposit is a fee that you charge for guests who have pets. This can be anywhere from $50 to $100 and is paid upfront, before the guest arrives. The money goes toward any damages caused by your pet during their stay.
If you don’t want to keep track of all these payments yourself, consider using an online service like Airbnb or HomeAway (which also offers a free app) that allows guests to pay their deposits through its platform rather than having them send checks or use PayPal directly with you.
You should also be aware that some states require landlords to keep deposits in separate bank accounts so they’re not mixed with other funds–so make sure yours are separate!

Screening Tools and Websites

  • Background checks
  • Credit checks
  • Verification of employment and income
  • Rental history checks
  • Eviction history checks.

Legal Agreements and Verbiage

Legal Agreements and Verbiage
It’s important to have a rental agreement in place that outlines the terms of your arrangement. This should include:

  • Rental Agreement
  • Rules and Regulations
  • Pet Policies (if applicable)
  • Damage and Security Deposit Policies (if applicable) If you’re worried about your guests breaking something or causing damage, it’s best to have them sign an addendum for their stay that outlines what is expected of them, including any specific rules you may have around pets or smoking in the home. You can also require them to pay a deposit before they move in so that if there are any issues later on with cleaning fees or repairs needed due to damages caused by guests’ negligence, then this money can be used towards those costs instead of coming out of pocket!

Screening Process

The screening process is a critical step in the rental process. It’s important to determine who you should be screening and what information they need to provide.

  • Determine who to screen: You should only be screening guests who will be staying in your home for more than three days and/or have access to certain areas of the property (e.g., swimming pool).
  • Documenting the screening process: Create a checklist that outlines all of the information needed from potential renters, such as their name, contact information, driver’s license number, etc. This will help ensure consistency when collecting this data from each guest throughout your property management business

What to Ask Potential Guests

When you’re screening potential guests, it’s important to ask the right questions. Here are some examples of what you should ask:

  • Have they rented before? If so, where?
  • Do they have pets and if so, what kind of pets do they have?
  • How long have they been employed at their current job (if applicable)?
  • What is their credit score (if applicable)?

Additional Screening Strategies

Additional Screening Strategies

  • Requiring references. If you have a good relationship with your tenants, they may be willing to provide you with references. If not, you can still ask for them from the previous landlord or property manager if they have been in the same location for more than six months. If there are no previous landlords or managers to speak with and your tenant has been living in their current home for less than six months, then it’s best to skip this step as well.
  • Requiring a guarantor/cosigner. This is another way that landlords can protect themselves from financial loss if something goes wrong with their rental unit during its term (e.g., damage caused by tenants). The guarantor/cosigner signs an agreement stating that he/she will assume responsibility for any damages done by his/her tenant(s) should those damages exceed what was agreed upon in their lease agreement; otherwise known as “tenant’s liability insurance.”

Conclusion

As you can see, there are a lot of things to consider when screening your rental guests. It’s important to keep in mind that this process is not meant to be invasive or overly intrusive; it’s simply a way for you and your family members to feel safe in their own home while they’re away.
If you have any questions about the screening process or would like more information on how we can help protect your property against theft and vandalism, please don’t hesitate to reach out!

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