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|Screening of tenant applicants is arguably the most important task
related to managing income property. Over the past few decades it have
become increasingly important that landlords verify information
provided by applicant for rental vacancies and for employment and
investigate various issues regarding those applicants. Also during
those decades the federal government and many states have increasingly
sought to (1) protect privacy, (2) improve the accuracy of information
collected and disseminated, and (3) better ensure fair treatment.
The backbone of tenant screening is the use of consumer credit reports. The Federal Credit Reporting Act (FCRA) regulates the collection, dissemination, and use of consumer credit information.
The FCRA was enacted in 1970 to promote accuracy, fairness, and the privacy of personal information assembled by Credit Reporting Agencies. The FCRA provides important protections for credit reports, consumer investigatory reports, and employment background checks.
Violation of the FCRA and similar state level laws can result not only in financial penalties via fines and/or lawsuits, but, in certain cases, can lead to criminal prosecution. To minimize risks of violating the FCRA and state equivalents, it is important that landlords understand the laws, develop good written procedures in place, follow those procedures, and maintain adequate records regarding all matters affected by the laws.
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|-||Basics of 1031 Exchanges|
|-||What is a 1031 Delayed Exchange?|
|-||Other money making strategies with 1031's|
|-||Computing the "Real Gain" on a 1031 exchange|
|-||1033 -What's a 1033?|
|-||Exchange Real Estate for Oil/Gas|
|-||Over 800 Eviction Attorneys listed in our Attorney Directory|
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