Horrible Tenant Pool
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Horrible Tenant Pool (by GKARL [PA]) Feb 6, 2024 6:17 PM
       Horrible Tenant Pool (by plenty [MO]) Feb 6, 2024 6:24 PM
       Horrible Tenant Pool (by NE [PA]) Feb 6, 2024 7:32 PM
       Horrible Tenant Pool (by mapleaf18 [NY]) Feb 6, 2024 7:33 PM
       Horrible Tenant Pool (by 6x6 [TN]) Feb 6, 2024 8:15 PM
       Horrible Tenant Pool (by zero [IN]) Feb 6, 2024 8:55 PM
       Horrible Tenant Pool (by GKARL [PA]) Feb 6, 2024 9:26 PM
       Horrible Tenant Pool (by BRAD 20,000 [IN]) Feb 7, 2024 12:30 AM
       Horrible Tenant Pool (by GKARL [PA]) Feb 7, 2024 5:59 AM
       Horrible Tenant Pool (by MC [PA]) Feb 7, 2024 6:38 AM
       Horrible Tenant Pool (by Ray-N-Pa [PA]) Feb 7, 2024 7:17 AM
       Horrible Tenant Pool (by mapleaf18 [NY]) Feb 7, 2024 7:56 AM
       Horrible Tenant Pool (by NE [PA]) Feb 7, 2024 8:42 AM
       Horrible Tenant Pool (by David [MO]) Feb 7, 2024 8:50 AM
       Horrible Tenant Pool (by WMH [NC]) Feb 7, 2024 9:04 AM
       Horrible Tenant Pool (by S i d [MO]) Feb 7, 2024 9:21 AM
       Horrible Tenant Pool (by David [MO]) Feb 7, 2024 10:51 AM
       Horrible Tenant Pool (by WMH [NC]) Feb 7, 2024 11:34 AM
       Horrible Tenant Pool (by mapleaf18 [NY]) Feb 7, 2024 11:50 AM
       Horrible Tenant Pool (by Allym [NJ]) Feb 7, 2024 1:30 PM
       Horrible Tenant Pool (by Moshe [CA]) Feb 7, 2024 2:36 PM
       Horrible Tenant Pool (by NE [PA]) Feb 7, 2024 2:48 PM
       Horrible Tenant Pool (by Moshe [CA]) Feb 7, 2024 3:38 PM
       Horrible Tenant Pool (by Robert,OntarioCanada [ON]) Feb 7, 2024 11:05 PM
       Horrible Tenant Pool (by BRAD 20,000 [IN]) Feb 9, 2024 2:21 PM
       Horrible Tenant Pool (by Nd landlord [ND]) Feb 9, 2024 4:45 PM
       Horrible Tenant Pool (by CJ [FL]) Feb 14, 2024 8:23 AM
       Horrible Tenant Pool (by Colleen [FL]) Feb 14, 2024 9:01 AM

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Horrible Tenant Pool (by GKARL [PA]) Posted on: Feb 6, 2024 6:17 PM
Message:

I'm hoping the tenant pool starts to improve. A goodly number who've completed pre-screeners and/or submitted Zillow applications have all had LL/Tenant cases. One of them had about 12 cases between 2017 to 2021. Others have simply not had the income. At the rate I'm going, I may not be rented until April. --209.122.xx.xxx




Horrible Tenant Pool (by plenty [MO]) Posted on: Feb 6, 2024 6:24 PM
Message:

Oct Nov Dec Jan... Bingo. Took me a long while. So far, got a good one. Wait. They will come --172.59.xxx.xxx




Horrible Tenant Pool (by NE [PA]) Posted on: Feb 6, 2024 7:32 PM
Message:

Just keep collecting your app fees. On lower end units, itís not uncommon to make more in a month on app fees than the rent. Oh well. --24.152.xxx.xx




Horrible Tenant Pool (by mapleaf18 [NY]) Posted on: Feb 6, 2024 7:33 PM
Message:

Yep the tenants keep getting worse and worse. I just had a tenant who hasn't paid Feb rent yet tell me to do something about him getting incorrect mail from the post office!

This is their second late in 3 months; total of 5 months so far. These are young strapping men (except for the roommate who was in a motorcycle accident but still works) Mr. Casanova is trying to claim "medical issues" now. (roll eyes)

He and his buddy don't know it yet but they will be out by end of March. Non renewal. Buh bye!

I started running an ad end of last October and it took me until the first week of January to find a good tenant for my newly rehabbed SFH. --64.246.xxx.xxx




Horrible Tenant Pool (by 6x6 [TN]) Posted on: Feb 6, 2024 8:15 PM
Message:

It's times like this that I try to keep reminding myself that it is better empty then sorry. --73.190.xxx.xxx




Horrible Tenant Pool (by zero [IN]) Posted on: Feb 6, 2024 8:55 PM
Message:

12 cases in 4 years?

So three evictions a year?

Wow, and they still had the nerve to apply. I really need to start collecting application fees. Won't make me much right now, but can't hurt. Besides more are starting to do this in my area. Mostly the big complexes.

I count my lucky stars and all that because I have a waiting list still.

But I know it only takes one hiccup to spoil it all.

Here's hoping that it changes for you! --107.147.xx.xx




Horrible Tenant Pool (by GKARL [PA]) Posted on: Feb 6, 2024 9:26 PM
Message:

Zero, I'm starting to rethink the whole thing about application fees. This person paid for a Zillow app but these are completely unreliable when it comes to evictions and criminal records, so I wind up doing the same thing that I do with my pre-screening form which is check court records. Just got another Zillow app as I write this. Person has a score of 507 and income two times the rent. I'm going to decline on that basis alone. --172.58.xxx.xx




Horrible Tenant Pool (by BRAD 20,000 [IN]) Posted on: Feb 7, 2024 12:30 AM
Message:

Gman,

Over the years things have gotten worse.

Saw today 63% of Americans do not have $500.

I will add that we now have much better tech and tools to screen the people we used to let in because we did nto knwo their true history.

Prescreening would reduce our income. With an app fee we get paid to deny the deadbeats. Prescreening means we would do it for free.

I now realize deadbeats increase our income.

BRAD --73.103.xxx.xxx




Horrible Tenant Pool (by GKARL [PA]) Posted on: Feb 7, 2024 5:59 AM
Message:

Brad, I'm starting to rethink the whole thing with application fees. I really don't want to show an apartment or meet with people without having some information on them hence the purpose of the pre-screening. I think I'd be hard pressed to collect an application fee without showing the apartment first which is what I don't want to do. Of course I could just have open houses, and then just encourage people to apply. --172.58.xxx.x




Horrible Tenant Pool (by MC [PA]) Posted on: Feb 7, 2024 6:38 AM
Message:

I show and if they want the app, I charge when they return it before I check anything. I try to pre-screen in the ad and on the phone and sometimes will just say don't waste either of our times. Requirements are in the ad. Everyone will have tax refund money coming up but probably not much else. --73.230.xxx.xx




Horrible Tenant Pool (by Ray-N-Pa [PA]) Posted on: Feb 7, 2024 7:17 AM
Message:

Case study - Thinking about this in economic terms to explain how someone can get 12 evictions in 4 years. assuming a cheap rent of $750/month times 48 months equals $36,000 of rent that should be collected.

Assuming the 12 landlords get first month and EVEN a security deposit this applicant would have to pay $18,000....or find "a landlord that will work with me" to get part of that reduced. That means they can spend upwards of $18,000 of money saved in application fees.

In Pa we typical take about six weeks or so get rid of a bad apple. Since these folks paid for the first four weeks of rent, that means the current landlords are still letting them slide two weeks.

We all have seen the post on this site - there are lots of OTHER landlords who wait much longer than just 2 weeks to act in hopes that some how things will get better magically. Professional tenants are betting against databases and screening tools. There is absolutely no reason why landlords shouldn't use every available tool to get the most qualified applicant for a specific unit. On lower end units, that means going through much more riff-raft. Pre-screening is even more valuable on these lower end units.

As much as there are landlord and investor conferences, we would be foolish to believe that tenant and housing conferences don't also exist.

Maybe partnering up with a specific non-profit to fill niche housing need might be in order. One that I have found awesome to work with places disabled individuals into homes. They even do the modifications for the resident along with paying for the rent. It is a gravy train - after you get the relationship started. The place that I am selling now is because it is just about fully depreciated out. 22 years it has been home to only three residents. Where I don't get absolute top dollar on it, it took less than 9 years to pay it off. NICHE housing and niche marketing works

--24.101.xxx.xxx




Horrible Tenant Pool (by mapleaf18 [NY]) Posted on: Feb 7, 2024 7:56 AM
Message:

I disagree with the boo hooing and hard times. Yes things have been very bad since February 2021 (due to stupid gov't policies mostly). But these kids today do NOT want to work. They received participation trophies and were told their you- know-what doesn't stink; that life is or should be a bowl of cherries!

I entered the job market during the horrific CARTER years where you had to beg to get a job at BURGER KING. The under 35 set wants to play vids all day, stay on tiktok and have a "work life balance" LOL. Moaning about having to work a regular 40 hour job. Most of us here worked 2-3 W2s when we were their age.

Just sayin' --64.246.xxx.xxx




Horrible Tenant Pool (by NE [PA]) Posted on: Feb 7, 2024 8:42 AM
Message:

Mapleleaf, I am kind of finding the opposite. Most of the incoming tenants from age 20 say up to retirement age often have decent enough income. Itís just that their credit is completely freaking trashed with collections and their landlord or criminal history is abysmal as well. A lot of employers, these days are lowering their standards of who they will hire and are taking criminals. Just to get bodies on the assembly line. So itís not unlikely that people we wonít rent to have decent enough jobs. --174.240.xxx.xx




Horrible Tenant Pool (by David [MO]) Posted on: Feb 7, 2024 8:50 AM
Message:

Listed on Zillow in December 77 inquiries.

Finally, in February itís leased with a qualified resident!

As Brad stated we have more technology and information at our finger tips to weed out the problem tenants that we may have accepted in years past. --199.200.xx.xxx




Horrible Tenant Pool (by WMH [NC]) Posted on: Feb 7, 2024 9:04 AM
Message:

I'm not finding what the media keeps telling us, that "kids today" don't want to work. Here you trip over jobs, and everyone is working.

They just don't make enough alone to afford the high rents, but when they pool their incomes they are fine. Credit sucks - I had one kid the other day with ZERO credit. But he has a job and was polite and a good kid, and his roommate is a bit older and has good credit, so I just received the signed lease and half the deposit last night for an April 1st move-in. The other half comes Friday (remember I collect 2x the rent just for deposit, so this far out, I'll take payments.) They pay the first month's rent before they get the keys.

This method works for us - we get the good kids just starting out and they are grateful for the break. I am grateful not to have to rent to a felon who has multiple pages of vehicles break-ins, assault on an officer and weapons charges on his record...(GF inquired last night.) --173.28.xx.xxx




Horrible Tenant Pool (by S i d [MO]) Posted on: Feb 7, 2024 9:21 AM
Message:

Yep, Govt interference with eviction moratoriums has produced a new class of tenant: the long-evictee.... the one who racked up 2-3 years worth of rent and didn't pay (even though they could) because "the Govt said you can't evict me."

Now the chickens have come home to roost.

There certainly is a malaise in the country. A combination of people who expect the Govt to provide housing as a right, Govt printing far too much money in excess of what the economy needs, and the utterly foolish shut down that clobbered supply chains, killed businesses, and threw the economy into a tailspin has been the trifecta, punch-in-the-gut... and we're probably going to see the results of that linger for at least 5 more years, if not 10.

New York City has something like 70,000 evictions backlogged as of 2022, and it's worse now. The true scope of this hasn't hit the major markets full on yet. Might take 3 years just to get caught up to 3 years of blockage. We have to make it our job to find the best out of the worst. This may mean retooling our screening processes, demanding the max deposit allowed, starting to use the lock box tour method to avoid wasting time while your competition is gobbling up the few remaining good applicants.

I've found recently that I CAN get the max deposit. Last two move-ins I got 2x the monthly rent. The spirit of WMH is in me! *grins

Sad for those of you investing in markets that limit it to 1x the rent. Might have to start charging a credit score premium on the rent, as I've seen some places do.

Credit is 720+? Rent is $1200

Credit is 640 - 719? Rent is $1300

Credit is 600 - 639? Rent is $1400

Credit below 600... not qualified

So on and so forth.

I don't mind doing the pre-screen because it takes me less than a minute, and I typically only have 1 or 2 vacancies at a time. In my market, there have been a rash of scams on FB where "landlords" are charging app fees before giving tours, but in reality they are just scammers. This makes people VERY skittish about giving out any money before you prove you are really the LL. Brad's market doesn't seem to have this issue. If I demanded an app fee before the tour, I'd not be getting many tours. If there are scammers in your markets too, I am interested to learn how you coax applicants into trusting you with money up front. I'd like to make that work here, but so far it's a non-starter.

--184.4.xx.xxx




Horrible Tenant Pool (by David [MO]) Posted on: Feb 7, 2024 10:51 AM
Message:

Sid, yesterday pulling up to my vacant rental there is a black car in the driveway. A lady steps out and says she paid the LL $3000 to move in. I'm like no you didn't?

Knowing she had been scammed. She then showed me the FB messages she had with some scuffing bearded fellow.

She had a large settlement from the accidental death of her husband, and the scammer played on her emotions. Long story.

No way to recoup her lost funds. --173.47.xxx.xxx




Horrible Tenant Pool (by WMH [NC]) Posted on: Feb 7, 2024 11:34 AM
Message:

We pre-screen, show/interview, collect app fee and app through Buildium, do screenings there too (as well as FB and state database) then send the lease and collect the deposit. Lease says deposit must be paid same day as lease signing or lease is null and void.

So far, knock wood, these procedures are working for us.

Would not want to live in NY or CA though. I think I'd be using the higher rent model. Too bad, because 2x the deposit means 99.9% of our tenants have about $3k waiting for them when they move out. If it was done in the form of higher rent, it would all be in my pocket. --173.28.xx.xxx




Horrible Tenant Pool (by mapleaf18 [NY]) Posted on: Feb 7, 2024 11:50 AM
Message:

Sid, the problem with charging higher rent based on credit score (which is really what banks do etc in the form of higher risk=higher interest) will be that the do gooder ideologues on the left will immediately legislate against it.

Somehow landlords are not supposed to profit off of their rents like every other business does but become a charitable organization. --64.246.xxx.xxx




Horrible Tenant Pool (by Allym [NJ]) Posted on: Feb 7, 2024 1:30 PM
Message:

When I got a run of problems over the years I would do some improvement to the unit that would make it extremely desirable to people with more income. Could be anything like whole house water filter, or special stove, outdoor perk, depends on what you have around you. That would include fenced yard for dog. People will come if they have a pet and need certain thins to maintain that pet. --173.61.xxx.xxx




Horrible Tenant Pool (by Moshe [CA]) Posted on: Feb 7, 2024 2:36 PM
Message:

In terms of the dynamics of the tenant pool, when the economy is uncertain, people tend not to move. Thus, the magnitude of the tenant pool alone is diminished, aside from issues of affordability.

The economy will begin to change about mid-year. I expect that increased consumer confidence will precede that.

--47.139.x.xxx




Horrible Tenant Pool (by NE [PA]) Posted on: Feb 7, 2024 2:48 PM
Message:

I wish I had a crystal ball too. --24.152.xxx.xx




Horrible Tenant Pool (by Moshe [CA]) Posted on: Feb 7, 2024 3:38 PM
Message:

Do you really think it takes a crystal ball?

How much of an expert do you think it takes?

--47.139.x.xxx




Horrible Tenant Pool (by Robert,OntarioCanada [ON]) Posted on: Feb 7, 2024 11:05 PM
Message:

Having separate utilities where rent can be lower along most of problem tenants are screened out as they owe utility companies a lot of money. Unpaid utilities and unpaid rent go hand in hand together. It is always worthwhile to look at ads on other internet sites. --207.236.xxx.xxx




Horrible Tenant Pool (by BRAD 20,000 [IN]) Posted on: Feb 9, 2024 2:21 PM
Message:

Looking forward to tax refund time.

Showings: People shop for homes online. A good LL should have PLENTY of good photos online letting people SEE the home, enough to feel confident to pay an app fee without a showing.

Our video walkthrus (free on YouTube) get hundreds of views.

Learn to help people without taking up your time (your life).

Plus no one has been murdered online.

BRAD --73.103.xxx.xxx




Horrible Tenant Pool (by Nd landlord [ND]) Posted on: Feb 9, 2024 4:45 PM
Message:

I have been getting a lot of inquiries but no one has shown up for a viewing. They ask about the application process when I tell them background and credit check and deposit they ghost. I guess my pre-screening is working because they know they either won't pass screening or don't have any money.

Now that tax money is here the first the first thing they say is I have the money. You don't need to do the checks. Hard pass. It's cheaper to sit empty than get a house destroyed. --174.213.xxx.xxx




Horrible Tenant Pool (by CJ [FL]) Posted on: Feb 14, 2024 8:23 AM
Message:

During covid I had wonderful applicants! Now , not so much. Evictions last month or last year on many inquiring folks. I ask names of all adults in my "leave a voice mail" phone message. I do pre-screen because I want no threats of "legal aid" if they don't think I "work with them". Better not to call back than to get sucked into drama. Their court records show most often whether they qualify. I , therefore, don't have someone angry that I am a greedy landlord just taking application fees. I wish I could take fees for my time as suggested here, but I don't care to spend time and effort for threats or the sob stories. Yes, some try the "I already paid the Zillow fee". Not my criteria, pay the app fee and be legit if you pass your courthouse review and get a callback. Good luck out there and I encourage us all to "teach your children well"...... --76.242.xx.xxx




Horrible Tenant Pool (by Colleen [FL]) Posted on: Feb 14, 2024 9:01 AM
Message:

The interests are better now for me. I always received interests from beginning, but those meet my pre screen criteria that are counted, and few of those wanted much lower $.

I think because of better weather and I lowered $50. My rental value is good amount more but I need competitive $ and meet other incomes. Iím more interest a better tenant than extra $.

I received an advice earlier to note Special Discount for move-in by (date) upon inquiries. This seems to help. --104.28.xx.xxx



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