BiggerPockets

Hey Ray -
I take it you're renting to low income renters? How's the property? Is it in a crappy part of town? Is it in crappy shape? Have you already been accepted into the section 8 program?

I faced the same situation with some property. The area turned south (wasn't great to start), and I knew if I held on, I'd never find a tenant. It was time for me to unload.

If everything you're doing is right, and you still can't find a good tenant to fill the property, perhaps it is time to find yourself a new property. . . . just something to think about.

TRUST ME - renting to bad renters with a history of evictions is just a formula for disaster! Compromising your standards to get someone in a property will turn bad in the end.

I'm with Josh... SELL, SELL, SELL.....

and what advice would you give to unload a property in which you've had problems and can't find tenants? just wondering if there are options I haven't thought of... thanks

Unfortunately, there is a lot of sludge out there. Good tenants tend to stay put, so you get to see a lot of applicants who are being evicted. They are the ones who are homeless.

I honestly think the tenant pool is getting worse. It's no longer shameful to not pay your bills. Instead, too many people consider themselves to be clever if they can get away without paying.

Job loss is a big problem in some areas. Tenants need jobs to pay rent, and if the jobs are gone, so are the paying tenants.

Donny,
where are you located?

If you update your profile to show your location, it will be more beneficial to everyone when you talk about your area's vacancy rate and etc...

Hey Everyone,

Thank you for getting back to me so quickly!!!!
Ill give you an update. I still have not rented the unit. Yes, this is a low income area - rents are 650 to 750. I am nervous with the winter coming, I have ordered refinishing of the floors and a new stove for the 3br/1 bath sing family. The unit is in south west philly on a great quiet block around the corner from a hospital.

Again I ask them over the phone if any evictions and why they are renting" normal screening questions. On the app, the prospect checks NO at the eviction questions and so I run the report and Bam - eviction status.

In the mean time I have signed up for the section 8 program to have as plan B if I can not find a renter by 12/1.

this is my main rental and choose not to sell at this time unless offered a great price, of course! But right now, I need the cash flow and tax deductions. The mortgage is 425 and rents for 650 and up.
My main job - Architecture is not very profitable right now :roll:

any other advice or thinking outside the box would be greatly appreciated.

it will be there tomorrow. great idea!

One of the best comments I have ever read, adding "Scott Properties" That is freaking brilliant. Getting tenants to screen themselves.

There is a website, believe it is www.mrlandlord.com He is a great speaker and coming to Colorado to be a part of the CAREI convention. He is one of the best RE speakers I've seen and got great ideas.

He likes renting to teachers and nurses. I even think he puts that in the ad. Be careful with discrimination issues with protected classes.

Nurses are great. They make a lot of money and most work all the time.