Landlords

[KeithTurk]

Re: Landlords

Most folks don't need to be evicted if they were pre-screened.... in other words you do a Credit check.... mandatory...

I sold my property that I did last year 3 days ago for $117,500

http://www.facebook.com/profile.php?v=feed&story_fbid=325841011188&id=1541289319

That should get you there....

K

[SpiderGearsMan]

Re: Landlords

if a lot of tenants could pass a credit check
don't you think they could get a mortgage ?

[ponchoman]

Re: Landlords

Most folks don't need to be evicted if they were pre-screened.... in other words you do a Credit check.... mandatory...

I sold my property that I did last year 3 days ago for $117,500

http://www.facebook.com/profile.php?v=feed&story_fbid=325841011188&id=1541289319

That should get you there....

K

Like I said, depends on the area. Example: If you own a duplex in Beechview, Allegheny County, City of Pgh, and you only rent to folks having a good credit history? Youre duplex is going to be vacant quite a bit. The location and type of rental property (not slum stuff, mind you) has a great deal to do with this. Just the way it is.

If your property is in a better area, with lower income taxes, etc then it's much less of an issue. If you're renting a "home" and not an apartment, less of an issue yet.

I used the Beechview example because it was the last rental property we owned. Over the last 3 yrs or so, I don't think we got a single applicant with a good credit history. If they had a good history and good money, they were looking for a better location.

[TC]

Re: Landlords

Credit Checks??, what's that.

I never do credit checks, I judge people by their character.

And I've never had to evict someone.

[SuperBuickGuy]

Re: Landlords

Credit Checks??, what's that.

I never do credit checks, I judge people by their character.

And I've never had to evict someone.

The most used statement in my line of work "he seemed like a nice guy." of course, if the jerk didn't seem like a nice guy, you probably wouldn't have dealt with him.... I say probably because I've also heard "I just wanted to give him a chance." line far too often.

[ponchoman]

Re: Landlords

Credit Checks??, what's that.

I never do credit checks, I judge people by their character.

And I've never had to evict someone.

Like I said, it all depends on the area. "Judging by their character" doesn't work so good in relatively urban areas where the economic conditions aren't so hot. In some areas you're general clientele just isn't the cream of the crop.

[milner351]

Re: Landlords

We've found that having a home in such a condition that it's at the higher end of what's available in that price range goes a long way in helping with tenant selection.... "nicer people like nicer places" sort of a philosophy.

So far - that has worked more effectively in Midland than it has around here... Midland is also great for getting places re - rented - we are averaging less than a week vacancy between tenants.... more like a month down here.

Just more proof that location location location about real estate is true for rentals as well as homes you want to buy for yourself.

[ponchoman]

Re: Landlords

That's the truth. You have to be careful in giving advice to people getting into the rental market. What works really well in one area may not even be worth a discussion in another area. And the funny thing is that the two areas physically may only be 5 miles apart. Location, location, location - and that means SPECIFIC location.

[milner351]

Re: Landlords

true indeed.

There are many locations where a walk across the street can take you from one house to another nearly identical house that's worth $100k different....

Location includes but is not limited to the following list of considerations:

property taxes
school district ratings
Utility costs (gas and electric rates)
distance from major highway / commuter routes, and/or train / subway stations
walking distance to often used conveniences
off street parking