Home > Work > The Book on Managing Rental Properties: Find, Screen, and Manage Tenants With Fewer Headaches and Maximum Profits
61 " How many evictions have been filed upon you?”: We used to ask, “Have you ever been evicted?” until we read about this little gem in Mike Butler’s book Landlording on Autopilot. In his book, Butler explains that landlords should phrase the question like this: “How many evictions have been filed upon you?” Such wording will require the tenant to think and not write an automatic “no.” Yes and no questions are much too easy to falsify, and tenants are used to questions being phrased that way. Also, an eviction filing identifies an irresponsible tenant as much as an eviction that proceeded to the point of the sheriff escorting them out the door. Both are consequences of bad behavior that you don’t need to deal with. Having them write an actual number also takes away their ability to claim they misunderstood the question. • "
― Brandon Turner , The Book on Managing Rental Properties: Find, Screen, and Manage Tenants With Fewer Headaches and Maximum Profits
62 " we let our potential tenants know that if they are approved, we will hold the unit for them for twenty-four hours, during which time they will be expected to present the deposit to hold. Once they have officially been approved, "
63 " you will want to take into account 1) how long the potential tenant has been in their current position, and 2) whether the position is considered seasonal or temporary. "
64 " Deviating from your written lease or policy indicates inconsistency, which may lead to an accusation of showing partiality, also a form of discrimination. For example, if your lease states that a late fee will be charged for any rent not paid by the 5th, and you enforce the late fee with one tenant (they’re kind of a jerk) and not another (you like them), the tenant charged the late fee may feel they were discriminated against because of another reason. Regardless of your reasoning (one tenant was nice and the other a jerk), that situation could quickly get out of hand. It’s best to simply practice consistency and stick to your written policies. "
65 " Is the total move-in amount available now?”: The answer to this question gives you a good indication of whether your applicant is financially responsible and plans ahead. If they knew they would be moving and have gone so far as to apply for your rental, they should have had adequate time to prepare for the move-in money standards. "
66 " When would you like to move in?”: If your applicant answered “today” or “ASAP,” be very careful during your screening process. A tenant wanting to move quickly could mean a few things: 1) They are being evicted, 2) their landlord asked them to leave, 3) they do not plan ahead, 4) they are not currently renters (everyone needs a place to live… where are they currently living and why?), or 5) a variety of other reasons that don’t bode well for you. "
67 " Should they fail to provide the deposit to hold, we do not guarantee them the unit after twenty-four hours has passed, and will continue to show the rental, and accept and process applications. "
68 " Always be aware that every action you take is training your tenants in one way or another, so focus on training them to be the kind of tenants you love to manage. "
69 " Who is your emergency contact?” (including contact regarding rent or tenancy): "
70 " They are fairly easy to get on—and equally as easy to lose if the tenant doesn’t hold up their end of the bargain by continuing to meet the program requirements. The requirements are usually fairly simply, such as attending periodic meetings or doctor’s appointments, or turning in periodic paperwork, but from our experience, tenants on these programs seem to have a difficult time completing them, resulting in their being dropped from the program and leaving us without a paying tenant. 2. If the tenant does manage to stay on the program, it won’t last forever. Most if not all of these programs have a time limit and "
71 " Because you specified that the emergency contact was also a contact for rent or tenancy, you may contact that person in the event the tenant doesn’t pay rent or has some other tenancy-related issue that a kick in the pants from the emergency contact may help solve. • "
72 " To pay the Federal Government a civil penalty to vindicate the public interest. The maximum penalties are $16,000 for a first violation and $70,000 for a third violation within seven years. "
73 " will run out, once again leaving the landlord without a paying tenant. 3. Since these assistance programs are for low-income tenants, these applicants automatically don’t meet the income requirement of bringing in at least three times the monthly rent, putting the landlord at a lot of risk when the tenant is dropped from the program or it runs out. Once again, this leaves the landlord without a paying tenant. "
74 " A bad reference from a past landlord is a huge red flag. "
75 " whereas a current landlord may not want to lose a good tenant or may be overly excited to get rid of a bad one. "
76 " This falls under the same category as requiring good references from past landlords. Obviously, an eviction equals a bad reference. A very bad reference. An eviction on a tenant’s record is the equivalent to committing murder in a landlord’s eyes. "
77 " Lesson learned: People seldom change. Now if a tenant has an eviction, we just say “no. "
78 " person’s credit score is evidence of their willingness and ability to pay their bills. "
79 " For example, do not include “perfect for families” in your ad; rather, if you are marketing to a family, highlight the parts of your rental or neighborhood that makes it perfect for a family. "
80 " To combat this, we started doing group showings. "