OfflineThrough the years I have been a landlord, I have had the opportunity to talk to other landlords. I have come to understand that a couple of things good landlords do is maintain their property and move quickly when they have a bad renter. Often times those that are rough on a property also do not pay on time on a regular basis. This does not apply to good people who are struggling and that you can work with.
Often times a new landlord gets nervous and will not complete the eviction process. I have even heard of people paying a tenant, who has damaged a property or who has not paid, to leave.
Use the courts. I agree some states have laws that are harder on a landlord than others, but get legal evictions. Do not be extorted. Turn judgements over to a collection agency. If your application has the tenant's Social Security Number a good agency will find the deadbeat. You will feel better about yourself and not feel like you were jerked around.
Roy Voeks
Official RE Coach
I have been renting for two years now ,I have them fill out pre rent form which asks for a lot of personal information, I got them from the apartments I use to live in I'm friends with the property manager. So If they do not want to fill them out or give me the information I do not rent to them, I just say I have other people coming to look at the property and I'll let them know. Also follow through checking before you sign a lease is good ,I have had two late or non paying renters who left without problems, One other person did lie on his form and I had to use the courts to evict some times it can take a year for it to go forward. To get law enforcement to help that is. I do have an alarm system on the property which is helpful you do not have to change the lock every time you turn around, you just change the code and pass word.
I did have the help of a friend and the local police to evict this person. Damage in less then a month I had to replace the carpet fix drywall paint and repair furniture. Oh and never let people talk you out of paying a deposit
Often times a new landlord gets nervous and will not complete the eviction process. I have even heard of people paying a tenant, who has damaged a property or who has not paid, to leave.
Use the courts. I agree some states have laws that are harder on a landlord than others, but get legal evictions. Do not be extorted. Turn judgements over to a collection agency. If your application has the tenant's Social Security Number a good agency will find the deadbeat. You will feel better about yourself and not feel like you were jerked around.
I have been renting for two years now ,I have them fill out pre rent form which asks for a lot of personal information, I got them from the apartments I use to live in I'm friends with the property manager. So If they do not want to fill them out or give me the information I do not rent to them, I just say I have other people coming to look at the property and I'll let them know. Also follow through checking before you sign a lease is good ,I have had two late or non paying renters who left without problems, One other person did lie on his form and I had to use the courts to evict some times it can take a year for it to go forward. To get law enforcement to help that is. I do have an alarm system on the property which is helpful you do not have to change the lock every time you turn around, you just change the code and pass word.
I did have the help of a friend and the local police to evict this person. Damage in less then a month I had to replace the carpet fix drywall paint and repair furniture. Oh and never let people talk you out of paying a deposit
Could you send me or even post a example of that form..
don't call their last place of residence... call the previous to the last one; that landlord will be more likely to tell you the truth about the tenant; the current landlord may just want to get rid of him/her...
I also know a friend/landlord who collects 1 1/2 month's rent as deposit- he says it will cover the 45 days it will take to evict tenants, just in case...
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
I also know a friend/landlord who collects 1 1/2 month's rent as deposit- he says it will cover the 45 days it will take to evict tenants, just in case...
Good idea about calling the previous landlord.
It isn't legal in some states to collect more than one month for deposit, so that is something you would have to ck. The ones who will rip you off are usually the ones who are more up on the laws and would be the first to report you.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
you can check the link below to find out how much the deposit limit is in your state
http://www.nolo.com/legal-encyclopedia/chart-security-deposit-limits-sta...
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
I'll need your email to send it
I usually charge an amount smaller than the actual rent for a deposit. Tenants think they can skip the last month's rent and live out the deposit which negates the purpose of the deposit. I have a clause in my lease that provides for early termination which consists of the amount of the deposit plus one or two month's rent. Our state has a statutory limit that prevents charging for the full lease when there is an early termination. Good management makes better tenants!
I was told a long time ago that there are really only a few bad tenants; but, they move around a lot so you are liable to get one. LOL!
We have a clause in all our leases that states the security deposit will not be used to pay final months rent. This clause gives them some incentive to return the aprtment to us without damages. When I hold their security up because of minor things that need to be done, the renter is usually very fast to fix any items I have a concern with. We are also very strict on our 30 day notice of intent to vacate. It has worked well for us.
Thanks for the link and thankfully Mississippi has no limits!!!