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Los Angeles: This Is Why Some Tenants Will Overpay for Housing
#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Los Angeles: This Is Why Some Tenants Will Overpay for Housing
Los Angeles investors are used to insane rents and tenant-friendly rules, but when you start buying cheaper Section 8 and cash-flow rentals in markets like Cleveland, Akron, Canton, Youngstown, Toledo, Detroit, Milwaukee, Chicago, Pittsburgh, and Baltimore, you need to understand why some tenants are willing to overpay for housing. Sometimes the tenants offering the most money are the ones with bad files, past evictions, criminal history, weak job history, or a long list of landlords who already told them no. That doesn’t mean you should chase underqualified tenants just because they’ll pay a premium. In my markets, the money is made by understanding the risk, screening legally and consistently, pricing the property correctly, and not getting blinded by rent numbers that look good on paper but can turn into evictions, turnovers, and headaches fast.