Question


Captain

I feel like a failure as a landlord, any suggestions to improve?

I have tenants and even though they seem to look good on paper (through credit checks, references, past landlords, etc) they don't ever turn out to be good and in the end I loose out. I have to pay for evictions and clean up their disgusting messes. Then, of course, there is another issue with damages. To be honest, I can't stand the phone calls of "how do I use a plunger?" Being a landlord isn't my desire or full time job. I rent out a house we aren't able to sell because of the market. Any suggestions on how to improve? What I've tried: 6 months of paying on time or early, equals a $50 discount on rent each month for the next 6 months Leaving a higher security deposit As I already stated, thoroughly check their application and follow up with calls to past landlords, credit checks, etc. What else? I have to be doing something wrong...3 tenants in a row have been horrible... Also, just to let you know, I live about 10 hours from my rental property but have a home warranty on the house and a local handy man. Do you think tenants take advantage because they know I can't just knock on their door whenever I want? I don't have emotion put into it when I have them move in. I also don't need the "bible" because I have my home warranty company (they take care of most things in the house) and my handy man (who does anything from repairs to all maintenance). I have all of that in place, along with an application. I need to know what else I should do to try to get the right people to move in and keep them paying. They always start off so good then about 6-7 months into it it falls to pieces.

5 months ago - 7 answers

Best Answer

Chosen by Asker

You need to hire a property management company. You will need to pay them a percentage BUT you will never have to deal with this stuff. They will do all the maintenance, legals stuff, and screening for you. All you will need to do is pay the mortgage.

by saberao98

5 months ago

Asker's Rating: 

Other Answers

stop thinking from emotion -your role as a landlord is business only. set up a cell phone for tenant use only & screen the calls. put together a "bible" for the tenants which contains info for plumbers, landscapers, restaurants, parks, etc for their use. this has nothing to do with you everything to do with the other person -apply the philosophy.

by versantly- 5 months ago

Try hiring a management company. They will handle this stuff for you.

by Ruth P- 5 months ago

Spelling correction "lose" out; not loose, which means ill fitting clothes. You're just unlucky! - my folks had tenants in two houses, and they never had problems (and lived about 5 hours away) You just can't be too picky about tenants, and if they have the upfront money, well, you kinda hafta accept them. I'll tell you that the last landlord will lie - just to get them gone. So don't even go there. Credit check is ok - but you'll need more than that. Obviously your not interviewing these tenants if your living 10 hours away, so somebody else (your probably paying) is doing this. Get a local "management company" to list your property. Pay the 10% and make the management company sign a contract that "they'll eat the damages", instead of you. They'll be there to collect the rent every month, so tenants won't know your an out of town owner.

by dusty_titus- 5 months ago

Offering a discount for doing what they legally are required to any way is not a good idea. How far back of a check do you do? Just checking recent rentals will not help. We check for 2 years good history. Even with proper screening it is still a gamble. Income requirements also help. Most landlords require income to be 3 times the rent to qualify. EDIT: You CANNOT go over there every month! Tenants have a right to quiet enjoyment of the property by law and frequent inspections are illegal.

by Wildcat- 5 months ago

I am shocked that these are people who's credit are good, and have good references with past landlords! It just goes to show that credit scores and references isn't everything... do you get a good vibe from these people before they become your tenant? The other person is right when they said you have to take the emotion out. This is business. I do want to become a landlord so i am loving the challenge of this question. I think what i would do is: 1) pay a cleaning company to clean the mess and bill the former tenant. 2) have a sceduled day each month where you will do maintenance on the house if there's anything wrong since you live 10 hrs away. i just noticed you said you have a handyman so ignore this one! 3) one of my friends rent out houses and he says if they pay rent ontime jan-november of that year they get december rent free (they can use money for christmas). He's told me that the tenants like this so much that he rarely have to find new tenants! I like this idea. 4)If you take pets, don't do that with the next tenants. That may help a lot as far as damages. You're not exactly being specific with the damages (holes in walls, carpets stained, pet stains) and im assuming they must be paying late if you have to evict them. I would go with the vibe you get from them. If i knew what type of house you got then maybe i would shoot for young families with babies, or elder couples, or just a married couple with no children. I wouldn't rent to college dorm students or tenants with pets...this may help out. Hope this helps. Thanks for reading.

by tikki- 5 months ago

you need to hire a property management company fast

by dreamover24- 5 months ago