The first step, of course, is to check their credit and employment. Their credit rating is generally a good indicator of whether or not they are responsible with their finances. The higher the credit rating the more confident you can feel that they will pay the rent every month. However, some people have incurred negative marks on their credit report due to the problems with the economy. They may have lost their job which caused them to default on their home loan and be foreclosed on. Therefore, you should also check their employment and income to status to ensure they have the money to pay.

The next step is to do a background check on your prospective renters. You do not want to rent to people with a history of violence, burglary, or other unsavory criminal acts. This could cause serious problems in the neighborhoods where your rentals are situated. For example, convicted sex offenders must register on a database that is publically assessable. If people who live in that neighborhood find out there is a sex offender living in your home, that could cause a lot bad press and legal difficulties for you. Spend the extra time and money and thoroughly vet your renters.

If this sounds like more work than you really want to do to find people for your rental homes then hire a real estate agent or property management company to do it for you. They can screen renters and make sure the necessary paperwork is processed. This may cost you a few dollars but it will save you a lot of time and aggravation. Whatever you decide to do, be certain to thoroughly check out your potential renters to be sure you are getting people who will be great tenants.

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Prefab homes have been around since the turn of the 19th century. Back then they were called House Kits. Homeowners were sent all the pieces of their home including tools, nails and a book which showed them how to assemble it. During that time period, however, most people possessed a good set of carpentry skills and had no trouble assembling their home. Today almost all prefab homes are put together by a contractor.

Because they are created in a factory, prefab homes tend to be cheaper than traditionally built homes. Factories are able to order materials in bulk whereas higher costs prevent home builders from doing the same with individual homes. Since the materials are cut and made according to a template, no skilled labor is needed in the factory which further drives the cost down. On average, homeowners pay 10-25% less on their prefab homes than people who purchase traditional homes.

But the savings don’t stop there. Almost all prefab homes are energy efficient which means you’ll save money on your utility bills. The bulk of the home is assembled in the factory. Therefore, when they get to the site, the home can be erected quickly and easily which translates into lower construction costs.

Like site built homes, prefab homes don’t have fixed prices which leave plenty of room for negotiation. The majority of your costs will center on acquiring the land for your home. It pays to work with a knowledgeable real estate agent who can help you find the best deal on property. The second major cost will be your mortgage but, again, do your research and compare mortgage rates. Take your loan out with the bank that offers you the best interest rate.

Since their inception, prefab homes have acquired a bad reputation for being low quality homes. Part of this is because there are actually two kinds of prefab homes, manufactured and modular. Manufactured homes are houses that are built on a steel chassis which is then used to transport the entire house to its final destination. These homes are on the lower end of the quality scale.

Modular homes are houses that are built in parts, or modules, at the factory and then assembled on site. These are at the higher end of the quality scale. Whereas manufactured homes come in a limited number of styles modular homes come in thousands of designs including multiple stories. These homes are of such high quality that even wealthy people are purchasing prefab homes second and vacation homes.

Prefab homes make great starter or vacation homes. They are easy to set up, cost less and are of the same quality as a traditional home. If you are in the market for a house, then a prefab home should be on your list of considerations.

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