Dealing with vandalism

[Christian Carson]

I'm trying to buy rentals in a transitional neighborhood where some streets are rough and some are decent. Violent crime is some of the lowest around but property crime is kind of high (I guess the thieves are chicken!)

I've found some properties that would be screaming deals in more solid neighborhoods but my biggest concern is having to fight vandals off. I've seen a lot of foreclosures that have been stripped of all metal, and have heard stories of bad tenants taking souvenirs before leaving.

I'd like to know what all you landlords in rough neighborhoods do to keep yourself from losing sleep at night. Do you make insurance claims or is this a cost of doing business? If so, how long does it take to get the property remarketed usually?

[Rob K.]

I deal in some neighborhoods like you're talking about - lots of property crime, low violent crime, Section 8 rentals, lots of lazy people, etc. There's a ton of money to be made, but problems also.

I install motion sensor lights on front and back, lock the gate to the backyard, and leave a radio on inside the house.

My accountant has houses in war zone neighborhoods. He pays a lowlife $10 per night to sleep in the house with a shotgun.

Another thing I've done is find an old neighbor. A guy in his 60's or 70's is perfect. Take him a case of beer. (It can be cheap beer, PBR, Milwaukee's Best. That's what he probably drinks anyway) Give him the beer and ask him to keep an eye on your house. You might have to listen to his life story. As soon as your cell phone rings, tell him, "I need to take this. My (whoever) is in the hospital. I will talk to you later."

It works everytime.