There seems be an extremely high number of eviction filings from rental applicants in this particular area.....
It doesn't have anything to do with the rental house nor the rental amount.
Does anyone own rentals in this area? How do you mitigate the risk?
Do you just deny all applicants with previous fillings for evictions? ( even if the eviction was not completed) It seems like 99% of applicants have a filing with the court system.
How are you getting this data. Is this based on your own applicants? Just curious.
Also, what’s far east side? East past 465?
N. German church and 38th. Newer home area. Yea past the 465. Cant seem to find someone with without a previous eviction filing. I am thinking it is the norm for that area of a tenant pool =/
@Scott P. I think what you are seeing is the new normal for that area. There are some areas on the East side that are great, there are also pockets with high crime and it reflects in the numbers you are mentioning. You can go a 4 or 5 blocks either way and it gets increasingly better as you move away from 38th Street and 42nd Street. The lower crime areas are further east across the county line. Just not a lot of rentals to be found once you enter Hancock county. Most of that area contains homeowners and the crime drops very sharply.
The number of renters on the East side has increased. Crime has increased in pockets and it reflects in what you are seeing.
Do we just supposed to accept previous evictions because it is comes with the area? Have you dealt with this in this area?
I would not get in a hurry to accept a tenant and then lower your standards. Our company specializes in B-C grade and frankly, these areas are slipping into the lower part of the B category based on locational issues. Nevertheless, for 20+ years we have been managing these challenging properties and 2 important lessons learned:
1. People do not change. Once they have one eviction, it is much easier to accept a second one on their records
2. If you offer a nice home at a fair price, you will have plenty of applications to choose from and will find the diamond in the rough. If these rules were not true, we would have given this up years ago.
You can make it work. Don't give in to the temptation of lowering your standards.
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