"Hell Toupee" wrote in message
...
On 2/1/2011 8:14 AM, Robert Green wrote:
We've been thinking of renting our current home rather than selling in
this
down market while we rent in some of the places we're thinking of
retiring
to. Unfortunately, movies like "Pacific Heights" where a bad tenant who
knows all the tricks of staying in a place without paying rent, haunt
us.
You can hire a property management company to handle the rental for
you, including dealing with evictions. They will tell you what
processes they use to screen renters and show you sample rental
agreements. If you'd rather not go that route, you should find some of
the online forums for people who invest in and rent out rent
properties, such as the SDCIA http://sdcia.websitetoolbox.com You can
join these forums and get advice from experienced landlords.
You will, of course, have to make background checks prospective
renters, including credit, criminal histories, rental histories,
references. Verify their current employment and income, and confirm
their prior rental histories - call the landlord, don't just take the
applicant's word for it. It's common for crooked types to give you a
fake landlord, usually a friend of theirs - so check the property and
confirm with the owner of record that the applicant really had rented
from them. If you can, inspect their current home. If it's a dump, you
know they'll treat your home the same way.
It turns out I don't want to rent to anyone who was like me when I first
started out! (-:
Do a face-to-face interview and look for anything that raises flags,
such as dilated or red eyes, track marks, lying about small things,
changing their story, repeated protestations of honesty, failing to
answer certain questions. Use your gut instincts. You won't catch them
all, but you'll spot some of them.
Sounds like a good idea. Glad I've been watching "Lie to Me" to get a
handle on micro facial expressions.
Put a clause in the agreement outlining who, and only who, is allowed
to reside in the home. You don't want a situation where you discover
too late that the couple who signed the lease turned it over to their
spoiled kid and all his frat buddies, nor do you want lowlifes renting
out every square yard in the house to their friends.
This a college town. They pack 'em in like clown cars despite the local
zoning laws limiting the number of occupants. That's why inspection (or a
webcam mounted in a neighbor's window pointing to the house) is a very, very
good idea.
If you do have to evict, a strategy suggested by several landlords is
to bribe the tenant to leave asap. You and they know they can drag
things out, and you don't want them to do any (additional) damage in
the meantime. So you phrase it as a service to them: you gotta evict
them, but you know it won't be easy for them to find a new place right
away. You are willing to "help out" by paying them a relocation fee
(usually two-three hundred bucks) to get their stuff out within 24
hours. You will meet them and pay them cash as they vacate. Lowlifes
find it hard to resist cash. Don't get worked up about having to pay
them to leave when the law's on your side; you have to view the bribe
as a cost of business. You're protecting your property from (further)
damage.
I came across this "technique" when listening to Carleton Sheets CDs I had
borrowed. Apparently three Ben Franklins translates into an irresistible
lure for skeevy dirtballs. Good to know. My neighbor only rents to fellow
churchmembers. Now I know why.
--
Bobby G.