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Real Estate
Reply to "how to be a successful landlord (i.e. right way to choose tenant and avoid problems)"
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[quote=Anonymous][quote=Anonymous]DINKs with in-person jobs are best. Never home and two sets of paychecks. [/quote] This was us when renting, perfect credit scores, 500k income renting in the 5K range. BUT, we had a dog which made finding a good place more difficult. Two things a former landlord did we found extremely irritating as renters were 1) not bringing in repair people for any household issue. The husband, who lived over an hour away, would want to fix any issue himself, on his own schedule. This would mean we would sometimes have to wait days until he could find some free time on the weekend. He was terrible at every fix he wanted to make so the issue was either not solved or only fixed for a brief period. We'd end up just getting repairman in ourselves which was not reimbursed. 2) Not cashing checks in a reasonable time period and not tracking rent payment. Landlord would not cash checks for months and months then would cash like 45k all at once, often causing issues with our bank. Would also lose checks or let them expire and we would have to comb through bank accounts to see what had and had not been cashed before canceling and re-issuing payment. We worked out our own system, but it was messy for awhile.[/quote]
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