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Reply to "I am considering buying a rental property. Talk me out of it."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Landlord here. It took almost 10 trips to the MoCo District Court to finally get my tenant evicted. Oh, court meets only on Mondays, at 9am. If you can't make it then, the court rules for the tenant since you didn't show up. I once arrived from a trip to Asia the night before, and overslept.. had to re-file and wait another 6 weeks to get a court date. There are professional deadbeats out there who ride the float of a slow court system and even slower sheriffs (they do evictions in MD). Average time from eviction order to sheriff showing up is 6 weeks. Of course, my tenant moved out 2 days before the sheriff turned up.[/quote] Did you do a credit and employment check and get references?[/quote] Of course, in 15 years of being a landlord, it's the one time I didn't. The property was due to be taken off the rental market in 6 months (for large renovations), and I needed to fill it that short time, and I was leaving the country the following day, and had no luck renting it for 2 months. Lesson learned. Tenant was gainfully employed, and was a family man in his 50's. Just had real trouble paying bills I guess due to a recent divorce. It came to light later he did it at his previous place also.[/quote]
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