Comments on: Landlord Tenant Relationship – “Hard-Nosed” Landlording: Keep Your Tenants In Line http://angellaraisian.com/643/landlord-tenant-relations-hard-nosed-landlording-keep-your-tentants-in-line/ "Financial Freedom Through Investing in Real Estate!" Mon, 30 Aug 2010 01:59:45 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Angella http://angellaraisian.com/643/landlord-tenant-relations-hard-nosed-landlording-keep-your-tentants-in-line/comment-page-1/#comment-36 Angella Sat, 31 Oct 2009 01:57:38 +0000 http://angellaraisian.com/?p=643#comment-36 Here's an example of a "Professional Renter", as Bob mentioned above: A friend of mine rented his house to a well-spoken gentleman, who showed up in a suit. My friend didn't run the background check as he should've, collected the 1st, last, and deposit, and let the guy move in. The following month the tenant couldn't pay the rent, but said he'd upgrade the landscaping on the house in exchange for the rent, since he owned a landscaping business. He ended up delivering 10 Queen Palms to the property, so my friend thought he was at least getting some kind of a service in exchange, and postponed filing the eviction. In the end, this tenant ended up dragging the eviction out for 9 months, and turned out to be a professional scammer. Had my friend done his due diligence up-front and pulled the tenant's credit report, he would have known that from the start. My friend's only consolation, after 9 months of court and eviction fees, was that he at least ended up with 10 potted palm trees. Well, until he had to pay someone to move those palm trees to his personal residence and plant them, which cost him even more money. P.S. Food for thought - How well do you think this tenant was taking care of the property, while he was dragging out the eviction? Here’s an example of a “Professional Renter”, as Bob mentioned above:
A friend of mine rented his house to a well-spoken gentleman, who showed up in a suit. My friend didn’t run the background check as he should’ve, collected the 1st, last, and deposit, and let the guy move in. The following month the tenant couldn’t pay the rent, but said he’d upgrade the landscaping on the house in exchange for the rent, since he owned a landscaping business. He ended up delivering 10 Queen Palms to the property, so my friend thought he was at least getting some kind of a service in exchange, and postponed filing the eviction. In the end, this tenant ended up dragging the eviction out for 9 months, and turned out to be a professional scammer.

Had my friend done his due diligence up-front and pulled the tenant’s credit report, he would have known that from the start. My friend’s only consolation, after 9 months of court and eviction fees, was that he at least ended up with 10 potted palm trees. Well, until he had to pay someone to move those palm trees to his personal residence and plant them, which cost him even more money.

P.S. Food for thought – How well do you think this tenant was taking care of the property, while he was dragging out the eviction?

]]> By: Bob Wilkinson http://angellaraisian.com/643/landlord-tenant-relations-hard-nosed-landlording-keep-your-tentants-in-line/comment-page-1/#comment-34 Bob Wilkinson Wed, 28 Oct 2009 17:47:27 +0000 http://angellaraisian.com/?p=643#comment-34 Very nice Blog Angella! One can never be too careful on the Tenant Screening. There are tenants who I call "Professional Renters" who will give you false information on the rental application. Believe it or not there are tenants who inform themselves on techniques on how to get free rent for 6 to 9 months. Their skills are so honed at scamming Landlords I would venture a bet that they attended a seminar on "How to live Rent Free". Oh, and having a very precise lease agreement always provides the best legal protection for the Landlord. Leniency & flexibility should only be given verbally and sparingly. Being hard nosed is simply good business. We are not running Charities in the investment business. When a tenant treats your property right, which is entrusted to them for use, one can always be charitable on the back end. Very nice Blog Angella!

One can never be too careful on the Tenant Screening. There are tenants who I call “Professional Renters” who will give you false information on the rental application. Believe it or not there are tenants who inform themselves on techniques on how to get free rent for 6 to 9 months. Their skills are so honed at scamming Landlords I would venture a bet that they attended a seminar on “How to live Rent Free”.

Oh, and having a very precise lease agreement always provides the best legal protection for the Landlord. Leniency & flexibility should only be given verbally and sparingly. Being hard nosed is simply good business. We are not running Charities in the investment business. When a tenant treats your property right, which is entrusted to them for use, one can always be charitable on the back end.

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