How can I avoid shady renters?

Question

I'm new to being a landlord and I've already gotten shady renters who would trash my apartments in just a couple of months, bunk in several other people and hold out on paying their rent. A couple of them didn't even pay me security to pay for the damages.

How can I avoid getting stingy party-animals for tenants? How can I do a credit/background check? Are there any warning signs I should look for? The last tenant 'moved out' when he was arrested for stabbing a woman in the chest.

Answer 1

ask for 1st month, last month ans security deposit - higher amount than one months worth if tenants have a habit of trashing your places. If they can't come up with that, you don't have to rent to them. The lease should clearly state how many people are allowed to live there and only those signing the lease CAN live there. Yes, you can do credit checks and check employment history - make sure they've been employed at same place for awhile (1-2 yrs) and call their employers. If you have doubts to their credit worthiness, ability to pay the rent, don't rent to them - it's not discrimination

Answer 2

Learn how to screen people better. You can always do a credit report check(inexpensive) and charge them for that. Charge $20 for the credit report and that will keep some of the riff raff out. For the other stingy-party animals, take pictures of how the apt looked before they moved in. Then take pictures of how they left it after. For each file, write down names,numbers, personal references,have a communication log as well with dates,times of phone calls,left messages,etc. This is all so if you have to take anyone to court you have proof. Ask for first month's rent and security deposit. Make the security deposit a little higher than the rent. That will also deter some of the riff raff.

Warning signs - Go with you gut feelings and don't be sympathetic to anyone. This is a business not an apt house full of non-repsonsible people who are preying on your sympathy.

I'm not trying to be rude to you, please don't take it that way.

If you are just trying to get your apts rented because of financial stress, take a deep breath and slow down the process. Take an extra day or two for each application so that you can think straight. Do a credit check, ask more questions other than yes and no ending, verify their job,make sure you get personal and business references.

Answer 3

When you get into the home renting business, I'm sorry to say you have to get used to taking the bad with the worse. I've had a lot of friends who have decided to buy property for renting, and to this day I am still waiting for one of them to tell me a really positive story. Unfortunately, most of the laws seem to be written in favor of the tenant, against the landlord. Those that do seem to favor the landlord appear to involve such a hassle in the courts, that many landlords find it cheaper, and easier on the nerves to simply eat their losses and hope for better luck next time. I've had my chance to rent property. I'd rather chew glass and drink diesel.

Answer 4

Turn it over to a property manager, at least to place tenants. They can run credit and landlord checks quickly and will help to weed out the riffraff. Also, the first time that a water heater blows on Christmas Eve, you'll be GLAD that you had a PM handling the details!

Answer 5

Doing a total credit history check and a criminal background check. Talk with other local landlords to see where they get their information. There are a number of websites that provide this information, but I wouldn't spend alot of money to get what you need. Sometimes you can get quite a bit just by talking to the city and county where they have lived before. That's free.

Answer 6

Hi! I'm so sorry you have been through this and it is common! As a Realtor I tell landlords turn you rental over to us. I know it's a issue to pay us one month's rent but listen. We pre-qualify our customers. They have to produce income statement, bank statement and proff of employment. If nothing else, you know where they are and where they bank. Second, we get a rental contract WITH 1 1/2 months security, PLUS one month in advance. Now, we also get them to sign a contract of payment. This guarentees that they pay the full amount before the 5th of each month. If they do not, or trash the place, you get a municipal court to file an eviction notice for refusal to pay and the police come and remove them. You keep security, end of story. Make sense to you? And this is out of your hands and you collect the monies. I know people complain about Realtors fees, but what is peace of mind and a constant source of income worth to you? If you have any other questions, please ask, I would love to help you. Marie

Answer 7

rent to section 8, we have always had good luck with people on the program. The state screens them for you,they take really good care of our properties, if they don't, they get kicked out of the program. the rent is directly deposited into our bank account and you don't have a high vacancy rate because they stay for a long time sometimes even years

Answer 8

9 out of 10 seem to be shady and the 10th one never stays...join a landlord association....check out nh landlord association for ideas....it is a savior

Answer 9

some judges do no longer evaluate emails as written observe. So in the journey that your written observe from her that the hire is up on the fifteenth is an e mail, you o.k. must be screwed in court. you're breaking the hire; your LL is complying to her criminal criminal accountability by potential of attempting to discover new tenants. it extremely is no longer her difficulty that those human beings did no longer qualify for residency and you're nonetheless to blame for the hire.

Answer 10

dont rent to anybody that cant pay all at once...
no payment plans, and get as much money as your state allows.......