The National Association of Independent Landlords Finds a Solution for Homeowners at Foreclosure Risk
At a time when a record number of Americans are facing foreclosure, the National Association of Independent Landlords encourages at-risk homeowners to consider renting out their homes to tenants rather than staying in them until the bank begins legal proceedings.
(PRWEB) April 8, 2008 -- At a time when a record number of Americans are facing foreclosure, the National Association of Independent Landlords encourages at-risk homeowners to consider renting out their homes to tenants rather than staying in them until the bank begins legal proceedings.
Homeowners who find their monthly expenses outstripping what they can afford may consider downsizing. By moving to a less expensive home or apartment and renting their own home to tenants, owners will have someone else paying their mortgage. Countless Association members have taken this route, realizing that even after a small or moderate monthly shortfall, they will be better able to keep their home until prices rebound.
Though renting to tenants is an excellent option for many homeowners, it can be a risky proposition if it’s done without the proper tenant screening, thanks to changes in federal and state laws as well as inherent dangers of allowing someone permanent access to a property. The National Association offers members a clearinghouse for information, forms, laws and advice that affect landlords. It can help landlords:
| | - Find qualified tenants through comprehensive tenant screening. The three major credit bureaus, in an effort to protect clients from identity theft, now require stringent compliance measures such as on-site visits. This is impractical for many landlords, so the National Association will run a credit check on potential renters, giving them a pass or fail grade so a landlord can determine whether they would be a suitable tenant.
- Report tenants’ payment history to credit bureaus as well as report damages renters may have caused.
- Collect rent electronically.
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With more than 100,000 members renting to tenants in all 50 states, the National Association of Independent Landlords is the largest provider of landlord services in the country. President Tracey Benson has been quoted by publications including Money magazine, The Washington Post, New York’s Daily News and the Star-Telegram in Fort-Worth, Texas. The National Association has offices in Los Angeles and Houston. For further information, please visit www.landlordassociation.com
CONTACT INFO:
Tracey Benson, President
National Association of Independent Landlords
Office: 800.352.3395
Email: landlord(at)nail-usa.com
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