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.
Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
7y
I have taken people with one eviction. It depends on the reason. Like if they were in jail and couldn't move out or a lot of poor people get stuck couch surfing while they get up money for a place and if they pay someone to stay and then that person doesn't pay rent, sometimes they get named in the eviction even if they aren't on the lease ... there are a lot of things it could be. I'd at least ask the guy what happened.
Developer · Point Pleasant Beach, NJ · Member since 2015 · 303 posts · 216 votes
7y
@Luka Milicevic bankruptcy is different than eviction. Imagine how bad things have to get for an eviction to happen. The tenants stopped paying rent. The landlord probably tries his best to collect and they still don’t pay. The landlord brings a suit against them, they still don’t leave or pay. They go to court, and the judge rules against them and has to kick them out. In my experience, people who let it get that far are not just people who landed on tough times. Those people do their best to find a new place and get you the money they are owed. The ones who let it get that far are conniving people who try to get away with screwing the landlord. I would recommend denying the application.