Landlord Tip: Track tenant damage and hold them accountable.

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Landlord Tip: Track tenant damage and hold them accountable.

Richey WardBusiness Member
Lender · Memphis, TN · Member since 2025 · 178 posts · 201 votes

If something breaks — like a window or toilet — during their lease, add it to their ledger. They can’t leave until it’s settled.

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Douglas SkipworthBusiness Member
Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
1y

Another good episode, @Richey Ward. James is a veteran landlord in Memphis. I know he's seen it all.

Thanks to you and CoreLend for putting out such a wide variety of investor topics. They're great!

(Full disclosure, I am one of the founders of CoreLend and they are a sponsor of our weekly Memphis podcast, The Investor's Guide to Memphis Real Estate with @Dean Harris of CrestCore Realty.)

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  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    1y

    Another good episode, @Richey Ward. James is a veteran landlord in Memphis. I know he's seen it all.

    Thanks to you and CoreLend for putting out such a wide variety of investor topics. They're great!

    (Full disclosure, I am one of the founders of CoreLend and they are a sponsor of our weekly Memphis podcast, The Investor's Guide to Memphis Real Estate with @Dean Harris of CrestCore Realty.)

    Investor's Guide to Memphis Real Estate
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  • Real Estate Agent · New York City · Member since 2020 · 820 posts · 641 votes
    1y

    They can't leave? Beyond the deposit what leverage do you have to stop them from leaving?

  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    1y

    Good point, @Alexander Szikla.  I think James was saying that landlords in Memphis can add tenant-caused damage to the tenant ledger, which means the tenant has to pay it before they leave. If the tenant leaves without paying it, then that outstanding balance can be collected from the security deposit or in a worst case from a judgment.  

    Maybe James is saying something different, but that's how I interpreted it.

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