Comments on: Vacant Rental Property or Bad Tenants?

By: Caroline

Caroline — Sun, 21 Aug 2011 00:25:26 +0000

@Kate. I can tell you from painful experience that trusting your gut is the only way to go in the landlord business. People send you plenty of signals as to their character. Listen and trust your gut.

By: Desiree

Desiree — Sun, 08 May 2011 20:15:13 +0000

I don’t know. I’m experiencing the worst year of my life in real estate all due bad tenants. I hired a property manager who I swear found THE worst tenants to rent my properties, two of which completely destroyed the houses. All of my rentals are single family (unfortunately), and one has been boarded up for several months after the tenant destroyed it. Another cost me close to $3000 to repair, so I’m inclined to say WAIT. I’ve taken over leasing out my own properties again, and I’ve been finding excellent tenants.

Mary (#15), your story is amazing! I’m so intriqued, and I’d love to hear more about how you managed to hold on. Please contact me via email if you can at lotidom@yahoo.com.

By: Mary

Mary — Sun, 20 Mar 2011 23:46:23 +0000

The above is absolutely the truth for the average landlord, expecially with single family; however, when I (single, otherwise unemployed mother to 4 & 5 year olds) “bought” a 25 unit property with 4 mortgages, 100% LTV, & Monthly cash flow <$1000. All my personal expenses were paid in quarters from the laundry, I was more desperate than my worse tenants to generate as much cash flow as possible, so I specifically let to the tenants that would make make most gray, but compensated for the risk by charging a high premium in rent, collected on a weekly basis, stiff late charges, (which may not even be legal in many areas), and I didn't live on the premises, but was often there. I also advertised specifically for those who had recently filed bankruptcy or had foreclosure and wanted to "rebuild" their credit. I charged 2 months security and first and last months rent. One sketchy couple paid 4 months in cash. Having grave doubts of their history, I called them to alert them that "I had just gotten a call from the FBI asking questions, and just thought they'd want to know". They had a moving truck there in 30 minutes, emptied the apartment in an hour, and left behind 2 teenagers who arrived home from the park to receive instruction from the resident manager for them to take the bus to Papa's. In all, I starved the first 10 years plowing everything into paying debt and upgrading the property. It's been 20 exciting years, the building are paid off, and put both kids through college. I can honestly say, even my worst tenants taught me valuable lessons, some became excellent long term (10+ years) tenants, grateful for a chance to get things right. If you've got the stomach for it, there's money to be made. I'm 48 and spend my time helping my adult children build their multifamily "empires" and traveling. I figure if my kids wanted in, it must not have been so bad!

By: Kate

Kate — Tue, 02 Feb 2010 18:57:15 +0000

This is helpful advice and I especially appreciate the tips list. I’m a relatively new landlord and I’ve already made too many stoopid mistakes renting to folks that I just knew in my gut weren’t going to work out. I’ve been relatively lucky in that none of them has been too much of a bust, but next time I’m going to follow my gut and “just say no” to “suspect” tenants.

By: Mark England

Mark England — Sun, 10 Jan 2010 18:49:16 +0000

I had a nightmare tenant in the UK and it took me almost 3 months to evict him.

By: mgeorge

mgeorge — Sat, 27 Sep 2008 18:22:00 +0000

Her initials are LCM or LCR beware She is on sec. 8

By: mgeorge

mgeorge — Tue, 23 Sep 2008 01:08:08 +0000

I am landlord and I have the tenant from tenant hell. She is a prostitute and has a different John there everynight. She said she only had 1 child when she really has 3. She has caused $3,000.00worth of damages and that is just to the outside and plumbing of the house. She has had me and my father arrested. She came from out of a shelter and is on a DHS program. Be careful of DHS programs!!!! I cant wait until she is gone. What a lesson learned.

By: vanny

vanny — Thu, 29 May 2008 21:59:36 +0000

I have a tenant who is nasty don’t pay rent and was asked to move out in January and its now June and she still wouldn’t move. She also have her son move in. Trust me when I tell you, never to rent your place to anyone. Shirley Patterson and son Micheal swem is the worse tenants ever. We can always use the extra money but its not worth the stress.

By: MoneyMan

MoneyMan — Tue, 01 Apr 2008 04:42:26 +0000

Well this is a no brainer. DO NOT rent to an undesirable applicant. Use as many of your resources as you can to market your vacancy.
Multiple internet rental and classified sites.
Signage on the rental and bandit signs.
Newspaper and buy sell paper ads.
Real estate clubs.
Shopping center billboards.
Finder fees to your tenant base.
And many more…be creative!!!

By: Bernard Fisher REAL ESTATE AGENT

Bernard Fisher REAL ESTATE AGENT — Mon, 10 Mar 2008 03:19:06 +0000

I WOULD GO WITH THE BAD TENANTS- KEEP THE PLACE AS IS- HAVE SOLID LEASES WHERE YOU CAN GET THEM OUT ASAP IF NEEDED
IF ITS EMPTY THERE IS NO CHOICE OF GETTING YOUR MONEY-
IF THERE IS SOMEONE BAD OR GOOD- STILL THERE IS A CHANCE

BERNARD FISHER

By: Andrea

Andrea — Sat, 09 Jun 2007 23:11:31 +0000

This happened to my dad one time some years back, and he never let it happen again. He was fortunate to not have his homes trashed again. Everyone is not so lucky.

By: Manuel Lopez

Manuel Lopez — Fri, 16 Mar 2007 18:43:43 +0000

On of the biggest reasons landlords run into problems is when they dont conduct a proper screening