“Again, I am ignorant here. How do you go about doing that without screams of discrimination.”

This is the main reason I use a property manager.. she knows how to and keep me out of legal issues… she makes them give info where they rented and checks with previous landlords… she makes them disclose income and financials ( not sure how)… she makes them give references and checks them.. whoever signs the lease needs to show income .. even if parents..

I have turned down possible tenants because of hidden issues… spend time learning this aspect.. finding the right tenant is the most important aspect imo ..

I have been lucky and had excellent tenants.. and still keep in touch even though they have moved on in life or purchased homes…

2 Jump to Post ...

Report Post Jump to Post

Posted by Fat Bastard

coach, investor, gambler

Member since Mar 2009

77615 posts

Posted on 6/16/22 at 11:17 am to Thecoz

quote:
have turned down possible tenants because of hidden issues… spend time learning this aspect.. finding the right tenant is the most important aspect imo ..

yup. my team does background checks. credit checks. job checks. we have a team of lawyers also with my PM. have not had to evict many but i have won in court on past claims. did not cost much either. we get judgments fast also in landlord friendly states.

0 Jump to Post ...

Report Post Jump to Post

Posted by V Bainbridge

Member since Jul 2020

7808 posts

Posted on 6/17/22 at 8:28 am to Thecoz

quote:
finding the right tenant is the most important aspect imo

This can't be said enough. Doesn't matter how sound your financial approach is if you get bad tenants. You can weed out most of the bad tenants with background, income and employment history checks. Have a lawyer draw up your lease. Understand it and make sure your tenants do as well.

This post was edited on 6/17/22 at 8:29 am

0 Jump to Post ...

Report Post Jump to Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board