My father dealt with professional tenants his whole life. No matter how many thousands of dollars he lost and stress and geadaches he got, he refused to get a property manager. When i purchased a rental unit i immediately got a property manager who worked with a major company. A professional tenant won't go near a property that is managed well and backed by a well known (well funded) company with lawyers at the ready. Well worth the cost. Peace of mind.
Definitely do you due diligence before renting. She gives great advice on what to look for. That being said if you had a tenant who has been paying on time for a good number of months or years you can have a heart and cut them some slack if they have trouble paying on time once and awhile. Especially if they have kept the place clean and not caused trouble.
Get a good lawyer and stay the course. I had 2 losers who tried this and I let the lawyer take over. 2.5 months gone lost money but i got my property back and will make way more money now. This is a spot on video.
I remember, growing up, my dad showing a second home my folks had in our neighborhood available & were showing...a woman came up, I'm not sure with or without a kid. But I distinctly remember her being vocal about the fact that she was the aunt of a little boy who had been shot in a rougher part of the county(it had been on the news, very hot topic). And my dad said he felt bad for her til she started talking about moving her man in & she was the sole applicant & perspective leaseholder. I did feel bad (had to have been 14/15) because by virtue of my being born into an upper middle class family...I got to live in a nice home, in a safe neighborhood....and some other kid, a few years younger did not get that & lost his life. At the same time, I understand that people do things & make decisions (often repeat ones) that make them *extremely hard to help* & the chips fall where they do. But to assure you're not part of a person's next mistake, you have to decline. protect yourself first.
Good renters need a landlord database on properties that have had frequent tenants due to shifty landlords behavior, creepy neighbors and refusing to fix basic required utilities.
Amen. This may be a business to the landlord, but a renter is looking for a home. There aren't enough protections to for people who are on that end of things.
Criminal property management companies says even more. Look up AMC Property management as one of the most notorious examples, what they have been up to and why the Department of Justice are now after them and many other property management companies as well. They steal far more than any so called criminal tenants and cause far more harm in communities. Fortunately now they are being rightly treated more and more as a form of organized crime, which essentially they are.
I don't feel bad for anyone, I don't believe anyone. I'm retired law enforcement and Combat Security Contractor, I have fought in multiple conflict zones and have done everything that job calls for. My heartstrings don't get pulled my Colt gets pulled. When I was a landlord for 7 years until I sold the property my renters figured out very quick I was not one to mess with.
This is exactly the reason I use when I argue that active duty law enforcement should not be a career, rather than a temporary position with mandatory breaks that include therapy and psychiatric evaluation before reinstatement, it makes people who do it for too long jaded and unable to trust anyone. Worse yet, those who wouldn't have that issue are generally more resilient because of some sort of preexisting form of psychopathy or sociopathy which can be made more severe by having the position of authority, making them a terrible candidate for anything but the worst parts of that job. If you wouldn't mind indulging me, I'm curious if you would say that outlook, not believing or feeling bad for others, has damaged or been detrimental to your interpersonal relationships with family, friends and love interests?
You should go down to the court to check the landlord tenant data base. And remember being a landlord is a business not a charity. Pay for a credit check and remember this is a business.
Also if you cannot verify their information, relatives, friends, prior employment, no one answers the phone, then you cannot verify and should presume it is not real. Any time they come with a story, its a story and you are going to pay dearly for being a sucker. Sucker = good hearted fool.
@@ObakuZenCenter I do exactly that. My property is mine and I owe no one access to destroy it or rob me of its revenue. What is this "understanding" you babble about?
In Texas we call them Crooks, Grifters and Bums. They are the ones who can't pay their rent but drive a new BMW... There is a great movie call "Pacific Heights" every landlord needs to watch.
Beware. Some California cities made it illegal to ask a rental applicant if they have criminal history or do a criminal history background check. Oakland in particular does this. Therefore, a landlord must do their due diligence and set the bar high when screening and approving a tenants.
Check EVERY reference AND call the employer... from a public number not the one provided. The contract has to fit both parties. If it doesn't fit the landlord, wait for a different renter.
off topic during christmas season watch out for professional moochers in parking lots of sam's or costco. my mother is in the hospital 200 miles away and i need gasoline to get my truck which has been broken down for two months back on the road again because she has cancer and i need to visit her. actual conversation december 2023 sam's parking lot ft. smith, ark.
There is another thing landlords can do to help their cause and that is to pressure elected officials to change the laws to favor legal tenants and landlords, and stop favoring squatters.
I don't charge that much for rent. I like to take tenants that have already been successfully been paying more rent, for several years, even if their credit is not so good. They tend to want to stay on my good side, and are hardly every any problem, or late with rent. If I can't talk to your previous landlord,,, well,,, time to toss the application.
No joke. I have a coworker who is retiring in the next 3 years, got himself a couple of properties, and will take being a landlord into retirement. Why would you want to take that headache into retirement? I thought that was supposed to be your time to enjoy life.
@@Skank_and_Gutterboy Some places are easier to maintain than others, and some areas are easier to find quality tenants than others. Hopefully your coworker at least knows the difference.
@@mitchhedberg4415 In that case he should be able to pay up front .. I can think of a certain fellow worth billions whose credit and reputation are abysmal , there are even youtube videos popping up in the feed about his multitude of ongoing cases, some of which are headed to the Supreme Court. If he was less wealthy he'd likely be pulling the same sort of 'professional tenant' antics.
@@mitchhedberg4415except someone like that isn’t exactly gonna be homeless while waiting on a rental property to live in. There are high earners with less than perfect credit, they can still get a mortgage though, I doubt someone with 200 million dollars can’t afford to purchase a place on cash…that like the MOST unlikely scenario, and I doubt this lady has EVER even come across that once in her career 😂
I guess the term Professional Tenant is new to the US then? It's been here in the UK for at least a decade or two, and refers to a tenant in full time employment.
That's a tenant who is a professional. Quite different than a 'professional tenant', which has been a derogatory term for a loser tenant for decades in the US.
I have tenants been there 3 years they have always paid rent however they are late with the rent check due on the 1st frequently not getting the check until the the 7th to 10th day of the month. the lease has a late fee but i have not collected it ever. What should I do in this situation? I know I should have sent them a late fee but I did not.
You must charge the late fee moving forward. Tenants will try to talk you out of this, but stick with what your lease states and don't back down. They will learn quickly that if rent isn't paid on time, they'll be paying a late fee. It only takes a time or two of this added expense for them to figure out how to pay rent on time.
