All Forum Posts by: Aly W.

We owned 2 SFRs in Trenton, NJ for 10 years. The first few years were rough, with the kinds of tenants and issues mentioned previously. We were extremely fortunate to have a good handyman and electrician/plumber/exterminator that were from that area and still lived nearby and were willing to go there to show the properties, make good repairs, etc. 

I screened tenants vigilantly, but you're still dealing with a population that is living there because they can't live anywhere else. Basically, you're choosing the least worst. We had several evictions, moderate damage (including having the copper pipes stolen when criminals pretending to be tenants came and cased the house), and a lot of anxiety about vacancies. One tenant heard gunshots on a regular basis, and even saved a neighbor that had been shot in the middle of the night and lay bleeding in the street until police came. 

That said, the last 5 years we owned the houses, we had good tenants in both properties that stayed those 5 years, and we did well.

We bought them in 2008, the market dropped a little further, and we were underwater for a few years, but got good rents. As soon as the market rebounded, both tenants had life changes and moved out within 2 months of each other. We immediately sold the houses. Covid arrived 6 months later, and I can't imagine what that would have done.

You're buying yourself a very stressful job. Those were our first properties and we learned a lot and made money, just understand what you're going into.

You're right - I should have let them spend $100 each to be rejected by the condo association. And the fact that they did not disclose the jail term when initially asked about a criminal background (you know, like jail time), shouldn't count. But if you have a vacancy in FL, I'll be happy to send them your way.

Filed under "Just when I thought I'd heard it all".

I wanted to approve a young couple with a 2 year old for our rental condo. Very friendly, polite, showed up on time to see it, passed the initial phone pre-qual. After getting their applications, the first red flag was the current landlord named on the application. That woman doesn't own the property, it's owned by the applicant man's parents, which I found on the tax records. The young woman applicant, very nice, very chatty, told me about it after I called to see who the "landlord" woman was, since she wasn't the owner. They are subletting from her - right.

That woman is also the supervisor of a landscaping company that employs the young man. Pay stubs are legitimate, she says she's sublet the house to them for about 5 years now. The young woman applicant works in Melbourne at a treatment center, makes decent money but also has documented trust fund income. 

Much bigger red flag: she told me her boyfriend has a DUI from a few years ago. I check the county court web site, and he also has a drug conviction from a traffic stop last year - marijuana paraphernalia, resisting arrest without violence. There was also an initial charge of possessing fentanyl (a felony) but no conviction. She admitted the irony of all this, as she works at a treatment center. I'm wondering if that's how they met, but I can't ask. She said he completed an AA program (because being a heavy drinker at the time impaired his judgment re: the drugs) as well as ae drug treatment program and has been sober since then and can send me his certificate and sponsor's contact info.

My application asks if a person has ever been convicted of a felony - the truthful answer from him was actually "no". I will revise my app to ask if there are any convictions for anything other than a DUI - of which he had 2. And had spent 36 days in jail, since his family refused to bail him out.

I can't believe she actually said to me, "I didn't think that would show up, since the felony wasn't a conviction". I rejected them.

And today's winner:

When she messages me from the listing, I ask if she meets the requirements in the listing. They all say yes, and she does, too.

I call her.

Me: Hi Victoria, I just wanted to ask some questions about the requirements for the condo.
Her: I told you 3 times I meet them!! (yes, in a very angry voice, and I only asked once).
Me: Well, everyone tells me that, so I need to ask a few questions.
Her: Huge, annoyed sigh...."I'm trying to find a new place, I'm sick of living above a drug addict, and they won't do anything about it here!" (like that's my fault)
Me: You sound a little stressed, should we do this another time?
Her: No, I need a place.
Me: Ok, I'll make this quick. What is your monthly income?
Her: DO YOU HAVE A PLACE FOR RENT OR NOT!?
Me: YES, OR I WOULDN'T BE CALLING YOU!
Her: Hangs up

Yup, good luck in your search.

And a request today to see the condo we have for rent:

Tenant: I would like to see this condo

Me: Do you meet the requirements in the listing?

Tenant: Thank you for bringing it to my attention. I'm not comfortable giving anyone a deposit that big. I've gotten all deposits back. Just can't trust people.

Me: I know exactly what you mean (what I felt like saying was, try applying for a mortgage with that attitude)

Tenant: I don't want to be in people's court begging for what's mine lol

Me: Good luck with your search

We have a 2/2 condo for rent. The listing says "Please read and meet these requirements before contacting". The condo association itself requires the tenant's income be 3 times the monthly rent. Rent is $1650, so the monthly income requirement is $4950; let's just say $5K.

Some recent exchanges:

Me - Do you meet all the requirements?
Tenant - Well, I don't make $5000 a month, but all the rest is ok. 
Me - <Thinking, if you can't pay the rent, but everything else is OK, you're in!>
I say $5000 is a requirement.

Me - Do you meet all the requirements?
Tenant: Yes, my friend and I do, together
Me - Do you both have verifiable rental histories? (a requirement)
Tenant: No, I'm 23 and have always lived at home. 
Me - What about your friend?
Tenant: Well, maybe in Trinidad, where she's from.

Me - Do you meet all the requirements?
Tenant - Yes
Me - What is your monthly income?
Tenant - I'm not sure
Me - That's a requirement

I'm very sorry you're going through this. The first problem tenant/eviction will help you avoid most situations before it gets to this point. I hope this info helps you. I had great mentors on BP when I first started. Evictions will happen, it's part of the business. It's not personal. Follow the law and your lease. The tenant's problems cannot become your problems. You're not their friend. Be understanding but professional. 

After 13 years as a landlord in 2 states, I can say that vigilant screening is the key to mitigating most tenant issues. 99% of inquiries for our rental properties aren't even qualified to see them. That saves a huge amount of time. I list all the requirements in the posting, which no one ever reads, and then I pre-screen on the phone when they say they meet them all. Most calls end in less than one minute :)

I don't charge for my application, just a $28 background check once I approve it, because if they're gotten far enough to get my application in the first place, they are likely to be approved by me and the condo association (if there is one). I don't want to take any money from a tenant that will likely not get approved. Always pay for a background check and look at the local court web site. 

Verify *everything*. Check the property tax records to make sure their previous landlord isn't a friend or family member. Be sure to speak to that person. When verifying employment, don't just call the number they give you, it could be a friend pretending to be their manager. Call the main company number and ask for their manager. Get current pay stubs.

When a tenant is approved by me and ready to sign the lease, we go over it on the phone, line by line. The rent is due on the 1st, late on the 3rd, and if not paid with the late fee on the 4th, a 3 Day Pay or Quit notice is posted. After that, an eviction is filed, and they understand what that will cost them. I explain the rent process carefully and make sure they are clear on what will happen, on what day, and where it will end. We will not carry them; they'll need to borrow the money from a friend or family. A process server handles all paperwork and communication with the tenant going forward. Find a lawyer that specializes in landlord/tenant law, and get your lease from them. Not a divorce lawyer, criminal lawyer or personal injury lawyer.

The security deposit is due in full upon lease signing. The first full month's rent is due on the day of move-in; any pro-rated rent is applied to the second month. No installment payments, no personal checks. All this is explained in the pre-screening call (if we get past the first minute). It's in the lease, which we go over. 

Even with all the precautions, occasionally a tenant's life will go off the rails. I've worked with good, long term tenants when they've had temporary problems. When a tenant stops communicating, it's never good, and you need to follow your process. Don't get emotional (with them), keep track of all texts, calls, email, etc. They can give their explanations to the judge, if they show up in court. In all these years, only 1 tenant ever did. 

"Or maybe money is more important to you than having a good landlord tenant relationship."

Apparently, your tenant feels this is a just a one way relationship!

I just came back from a trip to Brevard County, FL. My realtor and I literally drove around and found at least 8 facilities in a 10 mile area....all were at capacity with waiting lists, and none were interested in selling. Several were mom and pops, and more than one looked like a dump site. It didn't matter. They know what they've got and have been approached many times. For those who are selling, what they're asking may not be viable for a buyer. My realtor and I will keep looking this way, just to say hello, talk for a bit, leave our contact info and a little gift :)

My husband and I are residential rental owners, and I get those calls/letters/texts/emails all the time.

How old is the roof? Roofs in FL need to be replaced about every 15 years. Insurance will be higher as the roof gets older and some lenders will require a newer roof. What about the plumbing? It's likely not cast iron if the house is 34 years old, but make sure you get the pipes snaked with a camera during your inspection, all the way to main sewer line. Or is there septic? Is the tank original? As others have said, older houses (and we bought 2 of them as rentals this year) have many more repair issues. What about the AC, the water heater, appliances, etc.?

Once tenants move in, they will "stress test" every system in the house. Your repair budget may end up closer to the additional price of the new house. 

Thanks!!