Reply to Landlords: Would you rent to a family who had been foreclosed?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Nope. Not a chance. Take the time to find the right person, then treat them well. It makes landlording the easiest business around. (11 years, 7 properties, no problems). I'd rather leave it vacant than rent to the wrong candidate, and it's served me well over the years.[/quote]

Is this your main job or hobby/part-time.  I am in similar position w/multiple rentals.[/quote]

I'm a SAHM and but I'd still say part-time for sure. There are busy times when I might work 3 or 4 hours a day but those days are rare. I would estimate I spend about 5 hours a week, on the average. I have lockboxes on all the houses and a tested, trusted team of repair-people so if something breaks I can send the repair-people in without visiting the property myself. We fix things right away, replace appliances as they age, keep the houses updated with new carpet and paint (we just replaced a perfectly functional but UGLY kitchen including cabinets, counters, and flooring), and treat the tenants with respect. In return, we expect rent the DAY it's due, choose tenants carefully before they move in, and expect the house and outside (and neighbors) to be treated with respect. It's been great.

Everyone I know who has a horror story has skipped several steps in the "due diligence" process of picking tenants. I swear I don't even need to run a background check anymore, I've done this so much. Do they show up at the open house during the advertised hours? Are they neatly dressed? Do they ask normal questions? Do they fill out forms correctly? If we have a meeting, are they on-time? Did they get lost on the way? I swear that's 90% of the screening process. :-) [/quote]

Thanks so much for your helpful response.  I'm SAHM but handling a few apartment buildings in DC...it is a big job!!  [/quote]

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