We normally make them sign a lease, so everyone knows what is expected and covers both parties for liabilities.

When you have several rentals the other performing rentals cover everything and you don't feel the stress from the one nonperforming rental.

I need financing for my new home, and one of the conditions is I need to find a tenant that will cover my current home liabilities.

Cleaning team if possible, so there is more than one person to cover illness or emergencies, the house absolutely MUST be clean for the next guest. 

I would not have accepted the offer if I had known they would not cover it.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Renters insurance only covers the renters contents inside the home.

If you have enough properties, you can ride a tenant issue with the other properties covering the cash flow/expenses of the bad tenant--especially if you have professional tenants who care about their credit score. 

Our first goal is to have her income covered in about 5 years so she can free up her time.