Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
12y
Al, that is a strategy used by, usually beginning landlord but can be used by others. The way this strategy works is there is no real qualification requirement or formal application process, that's what makes it so popular, The landlord simply allows tenants to move in. If they move in in the middle of the month the tenant just pays the rents to the end of that month, there is no security deposit required.
Then, the following month the landlord finds that the phone number given isn't the one of their tenant. They go to the property to collect and find the lock changed, curtains drawn and no one answers the door. The tenant is independent from any landlord involvement at all.
This is the first month of the Tenant Free program, while it only lasts for a few months, the landlord is free of having to interview new people, taking any applications or processing them. They also don't have any complaints which is big plus. But, like all good things, this comes to an end as well in a short time, 3 maybe 4 months (can last longer in some states) when the property is finally vacated and then the landlord must go back to work. :)
Other wise, the term likely means a property that is empty and occupancy efforts will need to start from ground zero. :)