If you’re looking for the perfect resident for your rental property in New Orleans, LA, a reputable property management or rental screening company can help you shortlist the best candidates.

Applicant verification procedures
To make sure you cover your bases, JW Property Services will help you verify applicants to know if they are likely to pay their bills on time. This information is critical for reducing the chance of eviction.

We use up-to-date search tools and software to conduct accurate checks and verifications in the following areas:
• Income
• Rental/eviction records
• Criminal background/history
• Credit reports

Income
To ensure a potential renter is able to pay their rent on time, you need to verify their income. Things such as length of employment, frequent changes of employers, and gaps in employment can help determine whether he or she meets your income eligibility requirements. A common rule of thumb is income after recurring debt payments should be at least 3 times the rent.

Rental/eviction records
A statewide search for rental history can yield information easily missed when the search is restricted only to the address provided by the applicant. These records are made available by landlord and tenant courts and provide useful information about a potential resident’s tenancy history and reputation. You want to ensure they have a track record of paying on time and caring for the property.

Criminal background
To avoid “inviting” a criminal into your property, scans need to be done in both local and nationwide databases to uncover any criminal history that exists for potential residents. The search includes checking sex offenders’ registries, the terrorist watchlist, and the international police database (INTERPOL).

Credit reports
It is important to get an accurate credit report that also provides a credit score. Experian, Equifax, and TransUnion are three reputable credit report agencies that provide accurate credit information. Check to see if the applicant has paid debts in full or have pending collection matters.

At JW Property Services, we have years of experience providing leasing, management and maintenance services to property owners. We have the expertise and resources to help give you that peace of mind when selecting a resident for your rental property. Just call 504-648-4073 to start the review process.

Owning a rental property in the New Orleans area can come with a lot of ups and downs, and every day that your property sits vacant, it is costing you money. Long-term leases require the proper rental rate from the very beginning; otherwise, your property can soon be viewed as undesirable simply because you listed it at the wrong rental rate.

Finding that rental rate sweet spot

Whether you work with a professional property management firm or are managing your property yourself, the first step is to review the comparable units in your area. This comparison can give you a ballpark figure of achievable rents and help provide a benchmark for you when you are setting your own rental rate. If you price it too high, your unit will likely sit empty for longer than it should. If you put the rent too low you will be missing out on cash, which can have a negative effect on your overall cash flow. Take a close look at the immediate market and make adjustments for the positive and negative attributes of your property to find that rental rate sweet spot.

Get your message out right away

Property management requires you to be on top of your rental properties and aware when you have an upcoming vacancy. Even if a tenant surprises you with an early move-out, you should have a plan in place to get another tenant in as quickly as possible. Once you know the correct rate, be sure to advertise right away. Time is money in the rental property business, and vacancies can eat away at your profit margin at a pretty fast rate.

Partnering with a professional property management firm like JW Properties can help relieve some of the headaches that come with owning rental properties, and the right firm will boost your bottom line!

Eviction laws vary from state to state but, in most cases, a landlord is required to issue a notice giving the renter time to clear up the problem or ultimately vacate the property. As with anything, there are right and wrong ways for a landlord to conduct the eviction process if eviction cannot be avoided. After all, no-one wants to lose their home. You can find out how to properly evict a tenant by visiting https://www.appfolio.com/blog/2017/09/evict-tenant-the-right-way-step-by-step-guide/.

An eviction can be avoided if the tenant simply follows the terms of the lease agreement. A lease agreement is the legal contractual agreement between a landlord and a tenant that states when and how each payment should be made, the start and end date if the tenant can have pets at the home, and a number of other possible terms.

If you receive an eviction notice – often a five-day notice – you have options. These include paying the rent if it’s past due, fixing whatever the problem may be, or moving out before the end of the notice. If you don’t, the legal process of eviction can begin. This can have devastating effects on your credit if a judgment in court has to be filed. Judgments remain on your credit report for at least seven years and, after seven years, it may be re-filed.

It is important to remember that the property manager or landlord does not want to evict a tenant. It’s a complicated process that costs time and money. If faced with an eviction, communication, and respect are the keys to working towards a solution and a mutually beneficial relationship between the two parties.