There are plenty of reasons you can refuse a HUD applicant. Time to closure is a real consideration, for one. If your place is vacant, you want to get it rented as soon as possible. Not wait around for HUD to lollygag through their red tape system. A job is another. Past history of evictions. Non payment of utilities. Credit issues. It's a long and valid list.
rost, you want to start with a tight lease. You also want to get at least 3 mos. up front. That way, the tenants have a stake in keeping the place maintained and paying on time. BTW, it's not 1st, last, and security. It's 1st and security, with security being at least 2 mos. rent. If they have any record of past evictions or credit problems, police records, whatever, you can use them as leverage to collect additional security. ALWAYS collect a non-refundable deposit for each dog or cat, or both. Any withheld information relating to any of the above represents a breach of contract. Another oh by the way, make sure your lease states that all security deposits are automatically forfeited for any eviction, regardless of cause. If you have a pool or hot tub, or fire pit on the property, make them sign a release from liability and hold harmless agreement.
I'm just gettin' started. Protect yourself. It's a business. Do your social work elsewhere.
Last edited by local_dirt; 06/28/15.
