What to include in a Rental Application.

If you don't already use a written rental application for your property, you should strongly consider implementing one right away. There are many reason on why you should have a written rental application perhaps such as offering you protection should

someone whom you did not select as a tenant decide to pursue a discrimination claim against you. If you have documented the entire application process and the reason/s for not selecting that applicant, you can produce the application and related paperwork to prove your innocence. A written application also makes it easier to check a tenant's references. You'll have all the information you need available in one place, making your job easier and less time-consuming.
Here are some important points to include in a rental application:

Start with personal information. Get your applicant's full name, current home address, work address, phone numbers, and Social Security number drivers licences number and email address.
Include emergency contacts. In the event of an emergency, you may need to reach your tenant's next of kin or another family member. This information also may come in handy if you need to track down a tenant who has skipped out without paying rent.
Ask for references. Ask for at least three different references from your applicants. You also may wish to ask for the contact information for a previous landlord.
Ask about past problems with landlords. Ask the applicant if he or she has had problems with landlords in the past or has had trouble paying rent on time. Aslo the reason for moving there present and past locations
Include a code of conduct. The code of conduct in the rental application must be signed and agreed upon by your applicants. This can help dispel any confusion as to what behavior is and is not acceptable and also should include expectations such as noise level, trash, and pet policy. It can also provide evidence of agreement to the code of conduct should you ever be called upon to produce it.
State the rent and deposit amounts. Include these amounts on the written application to eliminate confusion and accusations that a lower rent amount was promised. Include the length of the rental period, if any, and timing for any possible increased in rent.
Ask for permission to check their credit history or background.If you plan on running credit checks for your new applicants, you will need their authorization. This can be as simple as a paragraph within your application that can be signed or initialed to show acceptance. You can also use an additional document if you so choose.
Inform the applicant that while the home is insured however the policy does not cover their personal belongings and you would recommend the applicant to purchase rental insurance.

Exercise Caution when decking those halls

It’s easy to get swept up into the “spirit of the holidays” but when that spirit includes holiday decorating on rental properties, landlords can quickly fall on a slippery slope when it comes to Fair Housing complaints.
Remember, religious beliefs are protected under anti-discrimination laws. What that means on a practical level is far from clear, but here are some tips to consider:
Religious discrimination rules distinguish between “common” areas like the leasing office, elevators or lobbies, and private residences.
In common areas, avoid overtly religious symbols, like nativity scenes and crucifixes. Courts have found other familiar holiday decor to be “religiously neutral” and therefore a safe bet for decorating. These includes trees, menorahs, Santas, candy canes, lights, and wreaths.
Don’t create the impression that one religion is favored over others. Someone entering for the first time should not be able to pick up on a religious preference, and existing tenants should feel welcome to participate in any celebration or observance. For instance, if residents request equal exposure in holiday displays, include those symbols along with any others.
Within the private residence, allow tenants to display their personal religious symbols. That may include the outer face of their front door.
Call your lawyer if there is any doubt or question about what is appropriate. Fair Housing complaints are expensive to deal with, even if you win.

1099 Bill For Landlords Repealed

As you may or may not recall, there was a significant new tax consequence and reporting requirement introduced for landlords within the Small Business Jobs Act and the healthcare reform bill passed in 2010.

This new reporting requirement was introduced to help the IRS better monitor landlord property expenses by requiring a 1099 to be filed for all independent landlords for payments during the year to any vendor or individual exceeding $600. Examples of 1099 recipients would include: gardeners, landscapers, contractors, property managers and repair services.

Earlier this year with support from Realtors, landlords, and landlord associations such as the NARPM all contacting their representatives to object to this over-reaching reporting requirement; both Congress and President Obama got the message and decided the filing burden was too great for smaller landlords. The requirement for rental property owners to file 1099′s was repealed in May of 2011. The senate voted 87-12 to approve the repeal and it was signed shortly thereafter by Obama.

This is good news for landlords, your 2011 taxes just got a lot easier as you do not now have to collect tax information from your vendors, nor report it on the 1099-MISC form as proposed in the Small Business Jobs Act.