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All Forum Posts by: Kenneth Davis

Kenneth Davis has started 16 posts and replied 69 times.

Post: Renting to an individual who Filed Chapter 7 Bankruptcy and foreclosing on home

Kenneth DavisPosted
  • Real Estate Investor
  • Glen Saint Mary, FL
  • Posts 71
  • Votes 9

I believe his BK was discharged and he appears to have held a job longer than two years. Thanks to the feedback hope to clear a few more unanswered questions in his application on my own.  I still have to confirm the house forclosure I believe he told me he was in the process.

Post: Renting to an individual who Filed Chapter 7 Bankruptcy and foreclosing on home

Kenneth DavisPosted
  • Real Estate Investor
  • Glen Saint Mary, FL
  • Posts 71
  • Votes 9

Would it be much of a risk to rent on a month to month to an individual who filed  chapter 7 Bankruptcy back in 2012 and is forceclosing on his home this year? I have only had 2 applications turned into me, in a  2 month period, a now reduced rental that is only $575.00 per month. He has a good paying job and makes over 3Xs the rent, though if appearances mattered he is something of a country boy that loves his guns the confederate flag and camoflouge wardrobe from head to toe. The appearance issue was only a concern due to the neighboring tenant who has stayed with me now for nearly 4 years now which I dont care to disturb with a new renter who is far different in lifestyle. I have protective clauses that shield my tenants from harrassment from other tenants; so hope this aides my concern on that.  I recieve several inquiries weekly but from perhaps every other living creature of a renter than decent law abiding ones and 2014 will be memorable for me.

Post: Prescreening renters over the Internet Vs phone

Kenneth DavisPosted
  • Real Estate Investor
  • Glen Saint Mary, FL
  • Posts 71
  • Votes 9

Does anyone use SurveyMonkey of similiar internet application for prescreening renters vs over the phone. I have found that prescreening renters for showings over the phone doesn't necessarily work with many lying on the phone just to see the inside of one of my rentals and wasting my time. I wanted to see if anyone uses an internet based prescreening method where the renter would have to E-sign their electronic signature after the questionaire is fully answered that  you submit to them via email from your ad.  I  feel this should eliminate alot of riff raff especially if there were also a disclaimer of sorts that tells the renter, that lying on this questionaire automatically disqualifies them.

Surprisingly I did see a clause on someone elses lease on survivability of other clauses if one or more are tossed which I use. I wish I could post my lease as I think there is nothing that a judge might be bothered by and to my amazement a local realtor asked to have a copy of my lease after we spoke a good few hours about renters and renting. My lease, I dont think is any larger than what a lawyer might draw up for an apartment complex and only 8 pages because the print was enlarged along with an area for the applicant to initial next to each clause.

Thanks everyone for the input. I will try verbally going over my lease in a brief summary of the most  important clauses where these tenants seem to overlook. It takes me a cup of coffee to fully read my 8 page lease with its approximate 39 clauses to todays date. My lease slowly grows insize as I encounter information or clauses from better lease agreements than mine or changes in the law. It is unfortuante that I feel the need for such a strong lease, but the stream of renters who show interest in my properties are so largley the evicted, the bargain hunters or those with gray areas of history. An applicant who I may consider next week for a rental, only due to his being the best of all the bad apples I have interviewed has recently filed for bankruptcy in the past year and forclosing on a surpirisingly cheaper home that only cost at his purchase $44K. I check tax records when I can. I lucked out with another tenant on a month to month that had a bankruptcy; staying while paying over 5 years now. I cant imagine it not working with this individual as well to pay month to month despite his misfortunate past.

I might be signing another tenant  on to another month to month maybe next week; he addresses me not Sir or Mr as I address him, but "bud," which kind of sounds disrespectful, but I cant be anal over an individuals lack of curtousy I suppose. I do have a feeling though that he will be another renter who gets a "dont be naughty letter," from yet another attorney; he is the best of the bad apples so far this month from good old Jacksonville, FL

I gather that seeing  a lawyer every now and then in my case might just have to be until maybe I start wearing a suit and tie and drive something nicer! Lol.

it seems like the letters have worked to get compliance. I actually incorporated after the 2nd tenant of mine did threaten to sue me over something right after we signed the lease; within nano seconds, or so it seemed,  ordered me off the property, (my first lawyer did very well kicking this tenants butt out due to my string of protective clauses). I am always dressed for some type type of labor, even when showing my properties, because I am a do it all yourselfer type and there is always something that needs to be done around my rentals from lawn mowing to painting etc.

   Due to new tenants often meeting me in a pair of old jeans and a T-shirt along with an old old truck full of tools everywhere, I kind of feel that maybe I appear to be something less than professional and worthy of being tried. I have not had the luxury to evict anyone in 9 years though I am sure my time is past due; the letters from an attorney or two that I have used commands complaince or the mere threat of an eviction. My lease has been reviewed by a few attorneys and considered by at least one a commercial type lease. I was a former leo years ago and had to dress up but no longer care to and I am laidback enough not to worry about impressing anyone from the apple barrell of tenants that look for rentals on the $600.00 of below range, "not top choice to begin with!"

Despite my lease agreement and all the paperwork that  qualifying tenants have to go through to get a month to month lease with me, I see an attorney at least once for almost every tenant who decides to test the boundaries, to get him or her on track with the lease and laws that apply.  My going to an attorney for almost every of  tenant is a little bothersome, but now unfortuantley  anticipated and so I thought that providing a copy of the laws which I follow might set a more professional business tone to the rental atmosphere. Do other landlords do this or have any thoughts why this might not be a good idea?