living in the home seriously helps. Let your tenants think you are just the super, not the owner. That gives you another level of threat if need be.
I learned that having a job and a car often was a good qualifier
definitely check credit. If lower credit, ask for TWO months security.
if they are even late ONE day, show up and request the rent there and now. Never let it slide. Ignore the sad stories.
Stay away from people recently out of AA, recent divorce, etc. People who look for a place are often in crisis, and it will become YOUR problem also. Look for people who are new to the area, or are coming to your place because of school or a new job
Stay away from people who have a rental history of short stays.
Demand past landlord references. Remember the most recent landlord may be nice to get rid of them.
look at the prospect's car when they come to look. How they treat their car is how they treat your apt. If it is beaten up and/or full of junk, well...
People with pets have a harder time finding places, but are often more loyal to you. Just have a pet clause and a small pet security deposit ($50-100)
Although I honestly had more problems with blacks, I always treated the next one with respect. No one should experience discrimination because of the action of others. Just do proper screening
Always do checkin and checkout procedures. It is ok to put a few holes in the walls, but carpet stains, blocked drains and damage is the tenant problem. Give them a screen (dollar store) for the kitchen and shower/tub drains to keep out hair and weird garbage from drains.
Consider getting satellite TV for whole building. Bill them for a share. Will save them $$$. Remember, the cheaper it is for them to live there, the more your rent seems reasonable and the longer they may stay.
Put compact fluorescent bulbs in all the sockets. You can get them cheap at dollar store, and keeps THEIR bill lower, and less electrical load on YOUR old wiring. When they leave, all sockets must have working CF bulbs!!!
Make sure heat, gas and electric is in THEIR name. Smart landlord only pays for cold water!
Students can be harder on the nerves, but there was something nice about having young people - brings out the parental instinct in you, especially if you don't have your own kids. Just make it clear that excess noise is not tolerated.
renting to senior citizens is often a pleasant experience. The parties are few and they usually have a regular income (job, retirement pay, SS, etc.)