Tip #116: Money-Back Guarantee?
When a rental applicant’s ability to pay rent is in doubt, accepting a guarantor, or co-signer, can be a perfectly good solution.
But if you allow one applicant this option, remember that you have to offer the same deal to all other applicants who may be in similar circumstances.
Otherwise, your policy could be considered discriminatory.
Also, have a legal expert review the guarantee language to make certain it is bulletproof.
See last week’s Landlord Quick Tip.
American Apartment Owners Association offers discounts on products and services related to your commercial housing investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.