Hello World! Welcome Friends! It will make you wish you had better tenant screening services. Owning a rental property is one of the quicker ways to generate money. People are also drawn to the idea of having tangible asset that you can even live in if you want to. It is of little wonder, that despite going through a challenging time across the entire real estate industry, rental property is still a booming business. If you play your cards right, you could be owning a property paid off by on someone else’s dollar. Or, even better, having a property that will always be appreciating in value.
That sounds exactly like a dream, does it not? But you would be surprised.
The truth is growing a real estate rental business is not a walk in the park. It can, in fact, be one of the most shocking business endeavors out there. From being knee-deep in someone else’s filth to ugly evictions that even turn violent, even the most seasoned, hard-working entrepreneurs would get scared witless in trying to maintain a property rental business.
Real stories from the Land Lord’s mouth
It is never easy to lease a place that you own. You have almost zero control over who your tenants will turn out to be. Sure, you can screen them thoroughly. You could even hire professional tenant screening services. But the truth is that no matter how hard you try, human beings are simply just way too unpredictable.
If you are still keen on becoming a landlord, maybe these stories can change your mind.
That one time a tenant wanted to have a mini burning man in your house
A property owner in Sacramento tells a story of a young couple who works for a music icon. For the first 8 years, the landlady did not have qualms with them. In fact, they were what she would call, a landlady’s dream. They were always tidy, they were never late on the rent and for a couple who works on the music industry, they were very quiet.
Fast forward 8 years later, I was awoken by the sound of blaring smoke detectors that echoed the entire building. On a panic, I rushed only to find my favorite renters room bright as a supernova. Apparently they were trying out some indoor bonfire product they saw on a reality show. The product was supposed to be safe to use inside a confined space, it was not. The entire room smelt of smog, the sprinkler system flooded several floors and the ceiling paint job turned to soot. I had to evict them immediately and asked them to pay for the damages. They were extremely apologetic and paid me everything they owed and more.
I almost felt sorry afterwards. But remembering how that incident almost burned down my entire building, I would think “Good riddance”.
Dodging an actual bullet
One of the first questions a professional tenant screening service would ask of a prospective tenant is if he/she owns any guns. Depending on the neighborhood, it could be a great red flag. And this story is about a landlord who owns an apartment for rent in Vermont.
As the landlord lives right next door the apartment they put up for rent, they were extra wary of who they were going to accept as a tenant. They wanted a friendly renter whom they would be glad to have as neighbor. After months of waiting, someone finally fit the bill. A family from Canada decided to move to the US and while looking for a permanent home decided to rent an apartment until they can move to a new house.
They seemed perfect at first. They were a family, and from Canada, no less. They would often invite each other over for dinner and have pleasant meal conversations about anything under the sun. Things took a turn for the worst however, 5 months they moved in.
The family was composed of 4 people. The parents, a lovely daughter and a teenage boy. The parents were lovely but the boy always seemed aloof. It was not until later that the landlord found out about the psychotic tendencies that the boy was diagnosed off. It was not only until an event happened that forced the landlord to sever their ties with them.
It was 1 AM, and the streets of Vermont were quiet. The young boy had just gotten home drunk and started screaming at the moon for some reason. The landlord was alarmed, but knowing that it was just their neighbors, they thought it might just be a game they were playing. The landlord approached him to try to calm the kid down only for the kid to reveal holding a pistol in his hand. He shot at the sky 3 times, as if to try to shoot down the moon. Then shot at the landlord and barely missing his foot. Before any real damage was done, the dad rushed out to grab his son to finally stop the madness.
The next day, they already had everything packed and took the time to apologize to the landlord. It was not the best of terms and the landlord says he will miss them. I can’t be said that he did not do the right thing though.
Final Word
It is always difficult to screen your tenants. If you really want to succeed in being a landlord/lady, you should hiring trusted professional tenant screening services. If you are going to have someone stay at your property for an indefinite amount of time, you might as well thoroughly vet them to make sure that they will not be causing you problems in the future.
These stories only prove that tenant screening is a complex endeavor. And that there is more to a renter than just his/her ability to pay the rent. Should you experience one of these horror stories yourself however, you may take solace in the fact that you are not alone.
Click the links below for any posts you may have missed!
Redecorate your Home on a Budget
What to Consider when it Comes to Drawer Boxes
Things to Expect from a Lawn Care Service
Simple Interior Details for your Bedroom
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Toodles,
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