Would you take a tenant with a prior eviction

[Luka Milicevic]

Had a tenant apply. Qualified on income and checks every box. 

Filled out all forms properly, and communicates very well. Has an eviction on record 6.5 years ago. 

If they applied 6 mo from now it would have not even showed up.

So, would you accept this tenant?

Ps: I placed a tenant 4 years ago with a bankruptcy. They pay on time and haven’t heard from them since 

[James Wise]

Originally posted by @Luka Milicevic:

Had a tenant apply. Qualified on income and checks every box. 

Filled out all forms properly, and communicates very well. Has an eviction on record 6.5 years ago. 

If they applied 6 mo from now it would have not even showed up.

So, would you accept this tenant?

Ps: I placed a tenant 4 years ago with a bankruptcy. They pay on time and haven’t heard from them since 

 No. My team & I run a huge portfolio (1,000+ units) Prior eviction is always a non negotiable with us. However long ago it was is irrelevant to us. If we find out there was an eviction at any point in that tenants life it's an automatic deny.

Play the numbers. There is a higher statistical probability that a tenant who's already had one eviction will get another. Does it happen every time? No. But the Casino doesn't win every hand. However they do turn out a win at the end of the day......Every time. We can't eliminate risk, only mitigate it to the best of our ability using the limited amount of data on these people that we have available.