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Never rent a property to someone on "Gut-instinct!" Some people have made their way through life by taking advantage of other people. They have perfected the art of lying and deception to achieve their goal of getting something for nothing and have no hard feelings about doing so.
Never rent a property without a signed contract and at least a security deposit! It is just about impossible to protect yourself all the time but if you leave yourself open to be taken advantage of, it will happen. Many landlords have sat with vacant rental units and a mortgage to pay so they make compromises to fill the vacancy. A landlord may accept a signed lease without a security deposit only to find out that the new tenant refuses to pay rent and never intended to do so in the first place. Now, along with lost income from the rental unit, there are fees incurred to evict this deadbeat. The contract doesn't mean much if the tenant doesn't have anything but a day-labor job.
ALWAYS! ALWAYS! ALWAYS! Make a video recording of the entire rental unit before and after occupancy by a tenant. Besides the use of Lease Sentry, Inc., of all the things you can do to protect your property and yourself, making a video tape recording of a rental unit is on top of the list! When a tenant moves out of your rental property, you are going to add information about their rental-behavior history for other member landlords to review in the future. If you cannot prove that this tenant caused damage, you should not report it. By doing so, you could open yourself up to a law suit because now this previous tenant is unable to find a landlord to rent to them.
Even though you have created a video recording of your rental unit after the departure of the last tenant, make another one with the new tenant on tape as well. Go through the entire unit and ask the new tenant if they are satisfied with the inspection of each room. This provides undisputable evidence for future reference and proves that the new tenant went through the unit with you to have their say in any part of the inspection.
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