Can't relate right now, but NEVER lower qualification criteria.

While I'm not struggling currently, in the past during lean times here I've adjusted criteria, I wouldn't say drop per se, rather I've increased the deposit amount to compensate for certain dings on their record. That works here in landlord friendly TX, not sure I'd do that in some of the more left leaning areas.

The other thing I've done is spend more effort in marketing in off-normal methods. I've paid a nurse to post it around the hospital, I've put it up on the bulletin board at the hardware store and a couple of diners that have a bulletin board, I offered a discount (which was required) to get it advertised in a large employers newsletter.

I refuse to just give up and let it sit empty, that would be admitting defeat which I don't do. Besides, I got in this to make money which I'm not doing if it's empty.

If I were to consider selling, it would be a strategic redeployment. I have routinely culled the herd over the years focusing on eliminating SFH's that are hard to rent, in a declining neighborhood, or draw in the wrong applicants. I've always redeployed the proceeds into a more profitable unit.

I only have one available at the moment. But have 3 coming up. The one vaccinated I have been advertising for 3 weeks now. Today was the first showing. Too bad they didn’t realize how long it wouid take them to get to Dallas.

I had a few nice townhouses in the same 8-unit complex that were coming vacant at roughly the same time at the ends of August/September a few month ago. I raised the rent $30 to $880. As the first one was being advertised, I was just not getting call from good prospects. This continued as the 2nd one was ready for showings.

I'm in CA so rent control. The market here is generally decent even when things aren't great but the last big down market in 2007-12 I adjusted criteria but no by a lot. It was easier then. Now I would be much less flexible as removing a bad apple is very difficult.

“” Hello

I’m calling about your two bedroom apartment.

My five friends and I are looking to move asap.

We’ve never lived together before but we all get along really,really great .

Joe has an adorable pit bull puppy and Sally has a bull mastif that she loves to ride around like a pony. The dog however doesn’t seem to be really enjoying it too much as Sally is a bit heavy. She doesn’t work but stays home all day watching those cop shows on tv and has promised to pick up the beer cans every Friday after she gets back from the AA meeting and before heading out to see her parole officer.

Danny’s ex old lady has seemed to have gotten her anger management issues under control and hasn’t recently shown up screaming and banging on the door with her tire iron at two am.

Tom is a contractor whose license expired several years ago because he couldn’t afford insurance and he took the district attorneys investigation really hard.

He try’s to drive a cab once in a while to make money, when he’s sober enough, but he’s really handy so you won’t need to worry about our calling you to fix stuff. Most of his power tools are gone,…..but he still has his hand tools in five gallon paint buckets in the trunk of his car. When he can get some gas he’s been trying to find a set of used tires that will fit as three of the tires are already past bald and have the steel belts showing. The alignment however seems to be pretty good and he has managed to fix the oil leak.

Big Al likes to work on his motorcycle while watching cooking shows on tv.

Does the apartment have cable in the living room and is it carpet, lvt or hardwood. Lvt seems to stand up better to the gasoline and oil. After huffing some of that carb cleaner he tends to get a bit sloppy.

Jane works for cash, mostly nite shifts. She doesn’t trust or believe in banks or credit cards. so she’ll be paying her share of the rent in cash. Mostly ones and fives, but there should be some twenty’s and fifty’s in there once in a while. She doesn’t want to have to apply or sign the lease. That’l be ok,….ok.

We’ll take care of the lawn. Manny has stopped fixing up cars and selling them after he was almost beaten to death by a guy who wasn’t entirely happy with the car he sold him. “”

I check online court cases after talking to each caller. It seems to be getting more drama laden by the day. A new first, charge of STRANGULATION! Petty larceny, grand larceny, obtaining money by false pretenses, drugs, alcohol, destruction of property and MULTIPLE evictions. Makes me wonder how many landlords do any checks?

Dave from CA,

your post reminded me why I started and almost finished

selling my rentals, since early 2020.

Ya'll do what ya gotta do !

As of this morning, 53 out of 54 units filled. Two are currently in late pay status but are going on weekly payment plans, effective today. We'll see what happens with those. I might be filing two evictions on Monday.

I recently had my longest vacancy ever: 3 months. Duplex in an older part of town. One side was occupied, but the other just sat and sat. Very few interests, and of those, most were duds.

Brand new tenant bounced her rent. She warned me though - said Buildium didn't pull it fast enough and her car insurance got there first so she will pay the rest on "payday." Luckily didn't skimp on their deposit, and they both have good jobs so we'll see. (wish we had an eye-roll giffy thing to insert here.)

Another breaking lease for January 1st, and another moving out as lease has ended January 1st. That's an odd one: GF had house, he moved in, she disappeared (still don't know if I should call the police LOL!) and he stayed on for another year. I think it's the third year of the lease so can't complain, he is living it out and having it cleaned so good.

But to your question, NE, we are sitting. If empty, so be it. Most of our places are not SFH, they at least have an ADU so there's always income, empty or not, just not as much as we'd like.

Thanx Dave! LMAO

Reminds me of the bank owned heroin den I purchased. Came occupied with 2 AIDS patients and a prostitute addict who OD'd in the front yard. But the best part ..... she is the DAUGHTER OF THE POLICE CHIEF in a neighboring town.

WMH, I encourage you NOT to "wait until payday" just because you've got a good deposit. IF it is true that they still have GOOD jobs, they will have options to get you paid. You're being the doormat and the path of least resistance. Do not be surprised when the story changes next week and they only have half the rent or no rent because someone else (the bank, their employer) "screwed up their check."

I've stopped accepting "I'll pay you next payday" statements. No, they start paying weekly amounts. Here's something I know is true about your tenants the same as mine: IF they actually will have the money in 1-2 weeks, they can have a week's worth in the next 24 hours. A signature loan at the bank. A loan from friends, family or co-workers. Worst case, a small loan from a PayDay lender to cover 1-2 weeks of rent. They HAVE WAYS! If they don't, 99% chance they're lying to you about that car loan and just overspent on Christmas or someone lost a job.

I refuse to be a doormat any more. Rent needs to be a tenant's #1 priority among all other bills. If I don't act that way, neither will they, and I'll have only myself to blame.

Still renovating a duplex that has never had a vacancy more than a couple weeks since the mid 80s. When done our options are move in, try to re-rent or sell.

Having reduced our tenant pool from 23 tenants to 6 while keeping our 5 properties with at least one, if not two units occupied per building has really reduced the stress and allowed us to live on our own terms.

SID, they paid. :) They actually overpaid by $.60.

Brad20K talked about slowdowns several years ago, and why being debt-free on rentals was all about no stress and FREEDOM. During the Great Crash of (2008?) people who were highly leveraged were crushed and we bought their disasters...pennies on the dollar, cash on the barrel. Destroyed inside. Renovated and rented.

Somewhat of the same thing is happening now, prices are dropping likes rocks on existing properties while new ones continue to be built. Not having mortgages is a huge relief. We can fiddle with prices, sit empty, fix 'em up even more if DH is bored and wants something to do, or sell if it becomes too much. Whatever we want.

Yes, WMH! We no longer have mortgages also. We paid ours off when the rates were well over 10%.

NE, yeah I had one nosy individual message me: "why has yoru rental ad been up so long and it hasn't been rented?"

I responded "lack of qualified tenants." That shut his pie hole.

tryan, The first place we bought was a repo. It had belonged to the assistant marshal's daughter.

Place was trashed beyond what I had ever seen up to that point. Front room had receptacles every three foot. He said it was because they were running tattoos out of the house. I think it was the perfect grow room.

I would have expected people that are heavily levered out might be more willing to do something now that they would regret soon there after.