Rental Property Investor · Tulsa, OK · Member since 2019 · 9 posts · 1 vote
Hey everyone, I just read a Bloomberg article explaining how a lot of people are unable to pay their rent right now. I’m on the market for my first investment property and it will be in TX. The article explained that 39% of people in TX aren’t certain they can pay their rent.
I’m curious, are there any specific screening or other strategies to help mitigate the risk of this? Is now still a good time to buy?
Hey everyone, I just read a Bloomberg article explaining how a lot of people are unable to pay their rent right now. I’m on the market for my first investment property and it will be in TX. The article explained that 39% of people in TX aren’t certain they can pay their rent.
I’m curious, are there any specific screening or other strategies to help mitigate the risk of this? Is now still a good time to buy?
Appreciate any input. Thanks.
Hi Brayden. I am sure you have found a tenant screening platform/service to help you in those matters correct? Or are you planning on using a Property Manager? Either way, this will help you see if they had any previous evictions or other issues with their credit. They will have to provide proof of employment and you should always follow up with that a recent pay stubs. Make sure they make 3 times income over rent as another safe bet. Hope this help you in some way! Good luck and stay frosty out there!