One of the most critical events that can occur to a landlord is when the tenant stops paying rent. In our opinion, it is very important to assess how serious the infraction. There are 3 levels of severity: Minor/Short-Term ( rent is a few days late) Moderate (rent is a few weeks late) Severe/Long-Term (rent […]
Posts in the Tenant Screening category:
#TenantScreening — Bait & Switch! #tenant #tenants
For the first time in our real estate investing career, we encountered a bait & switch ruse. Here is what happened … We began advertising a 3 bedroom townhouse for rent. Our first phone call was from an elderly woman in her late 60s. Her initials were AP. AP said her retirement income was $6500 […]
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When #Tenant Offers All Cash & Quick Move-In … #tenantscreening
Many years ago, when we were beginner real estate investors, we advertised a 1 bedroom condo for rent in the local newspaper. A woman with the initials VW called to make an appointment to see the condo. When she arrived, she told me she was in a situation where she had to move right away […]
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When #Tenant Offers to Improve #RentalProperty … Beware! #tenantscreening
We recently received 30 day notice to vacate from one of our tenants, so we have been actively screening prospective tenants. We received a call from a middle-aged gentleman who said he had allergies, and offered to pay for converting our carpeted flooring to hardwood floors. He hadn’t even visited the property to take a […]
8 Steps to Screen Prospective #Tenants … #tenantscreening
If you plan to hold your real estate investment for the long-term, you will want tenants who take good care of your property and pay the rent on time every month. For beginner real estate investors, one of the key factors driving your success is tenant screening. The wrong tenant can deplete your profits and […]
Screen Prospective #Tenants B4 They See #Rental? #tenantscreening
It may seem unfair to screen prospective tenants before allowing them to visit your rental property, however when you are managing multiple properties, time is a valuable commodity. We have learned the hard way by spending time and gas running back and forth between properties when the prospective tenant wasn’t serious or qualified. Another very […]