All Forum Posts by: Thomas S.

NO GOOD DEED EVER GOES UNPUNISHED

EVICT. Cash for keys will screw the next, all future, landlords. Screening of applicants for evictions is useless if landlords do not take the responsible action to evict bad tenants. It is your responsibility as a landlord to take the necessary action to protect our industry. Landlords that have no regard for other landlords use cash for keys to save money. Evict and file to collect in small claims court if necessary.

No you can not charge him a months rent for staying a couple of days. What you should do is be there first thing in the morning tomorrow with a few friends and help him move all his belongings on to the front lawn. English may not be his first language but guaranteed he understands it well enough to screw you over.

If she is a stripper or pole dancer there is a chance that she is associating with less than desirable indivulaes. Drugs, petty theft, B&E etc. Income is unreliable and mostly in cash, small bills. Income not verifiable. If you rent to her the next thing you know she has rented out rooms to all her friends.

You and a few friends go their at night, all with the short end of a stick in hand and have a nice friendly conversation about him leaving, immediately. Once out you change the locks. Alternately what you do is you and a few friends watch for him to leave, break in, change the locks, Move in a few pieces of your furniture and place pictures of yourself and family around the house. When he returns he may call the police or may not. If he does you show the police ownership, and the fact you are living there (family pictures) and deny knowing the guy. Once you get a squatter out the door and change the locks you no longer have a squatter.

Be patient and let her come to the realisation that she can not afford what she wants. She will then buy what she can afford and make the best of it. Steer her in the right direction if you must. What you do not ever want to do is rent to a relative. No good ever comes from it. You will regret it if you do.

It is financially wiser to sell personal homes as opposed to holding them as rentals. They are usually a very poor investment as a rental income investment.

"I would encourage the abused tenant to get a protection order." It is never advisable for landlords to get involved in tenants personal life issues. You send notices to cure, you do not provide personal advice unless you want to put yourself in the middle of the problem. Businesses do not get involved in tenants personal lives.

Never invest in a rental with a pool, cost and liability is far too high. Investors that get a good deal purchasing a property with a pool should factor in the cost of filling it in. Never allow tenants to have a pool.

Your biggest mistake is in giving applicants the "benefit of the doubt". Always assume applicants are lying and immediately decide if you are going to reject the applicant when seeing red flags. It is usually a waste of a landlords time to dig deeper into a applicant when there are questions. When a applicant does not provide sufficient information there is no point in you doing the leg work for them, they are hiding something. If a few quick enquiries can get you answers fine otherwise just reject the application. Never trust a applicant or waste time trying to make a unqualified applicant qualify.