Tenant Proofing - What do you do?

Question

Michele V. · Answer

My ideas are a little unusual.  I know you're talking about durable materials etc., but the first thing that comes to mine when I think of tenant-proofing a place is SCREENING.  It is possible to have a tenant to take great care of your property such that all you have to deal with is normal wear and tear.  It really is possible to find people who are responsible and who will take care of your property (almost) as if it were their own.  I believe that because I had tenants some years ago who take amazing care of my property.  But I only found that wonderful family after having turned down several potential tenants whose credit and whose personal situations caused me to have concerns about their viability as a decent tenant.

Secondly, I really think the more significant your security deposit helps tenant-proof your property (at least to the extent that it calms your nerves when thinking about potential repairs while your tenant is in there.  I'm fixing up a right property right now.  I'm going to take pictures of the place before the tenants move in, show them the pictures and get them (or their parents - they're probably going to be students) to sign off on them.  Then I plan on keeping a close eye on the place (through my property managers, who are my close relatives), and I plan on holding onto that deposit if I have to make repairs that warrant my doing so.

Third, I'd also recommend durable materials.

I will say also that I would seriously consider requiring that the tenant have no pets.  I know that sounds harsh.  But so is the smell of cat urine that can't be purged from a home.  I went to a vacant house this summer that my realtor and I came to refer to as the "dog house" because the place absolutely reeked of a very wet, very old dog.  I'm sure the dog was a great friend.  But the house needed major work just to get that odor out of there.

Account Closed · Answer

@Shaun Palmer Nothing is tenant proof! Tenants can/will destroy anything and everything. The key to "tenant proof" your properties, is solid tenant screening/selection

Account Closed · Answer

Think durability and ease of maintenance. Paint, not stain. Laminate flooring, not carpeting. Simple fixtures in kitchen and bath, not ornate. Kind of like child-proofing a house, only for big kids.

Penny Clark · Answer

Michele is spot on that screening is the BEST way to tenant proof a home and charging a sizable security deposit (within the law) is a nice idea. I've seen many a landlord pour money into improvements and then see their investment deteriorate when they allow D class tenants possession. That's when they come to me and ask me to fix it.

Remember this motto: " 99 percent of your ability to get paid is dependent upon how well you screen your tenant"

Good luck!

Mark Radford · Answer

Floors that withstand moisture, rips and stains. *Keep up with changing HVAC filters.* Pet policy is discretionary but our area almost requires us to allow them. (Charge extra plus a non-refundable, separate deposit.) Warranties on applicances. Generally setting up the math figuring worst-case scenario, we'd only be out 1 month's rent in *our* dollars after using up their deposit in the event of a ****show tenancy.

Russell Peden · Answer

I just listened to an excellent podcast episode on @Jason Hartman's Creating Wealth podcast where Jason interviews a panel of self-managing landlords, and they talk extensively about tenant-proofing your property. Similar ideas...vinyl plank flooring, better screening. Plus some great resources for remote self-management.

I believe it was episode 729 or 731 (I hope it's okay to post that here...?!?!)

Michele V. · Answer

You might know that I'm in the process of updating a property that I plan to rent here in Florida.  Prior to this, the property I mentioned (in Virginia) is the only other place I've rented.  So for that property, I just hired a realtor to help me with the tenant applications and do the background checks.  I really didn't want to meet people b/c I can understand how we get in the messes we get into and I would have found it hard to say no.  So I let the realtor get all the paperwork together (including the background checks) and I screened it from there.  It was worth it to me because I got at least one letter begging me to let a person live there, and that was very hard to bypass.  Frankly, I'm a Christian, and I just had to really pray and ask the Lord for wisdom because I wanted to help the people.  But I had to just say no, based on what I was seeing in their paperwork.  I found that hard to do.  But, while I deeply believe in being a generous giver, I'm still my own favorite charity, you know?  If I wanted to open a facility for people who had fallen on hard times, I would do it -- and get someone else to pay to keep the place running..

Jason Hartman · Answer

Tenant proofing is obviously an expression as nothing is totally tenant proof but there are some good steps you can take in that direction.

Glad you liked that episode of my podcast, @Russell Peden! There's more to come. :-)

Tenant Proofing - What do you do?

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