Vacancies in many apartment buildings have increased to between 30% and 40% in many areas of the country. Apartment building owners who just a few years ago had occupancy rates as high as 90% to 100% are now facing a situation where they are unable to pay their mortgage and can’t cover their operating expenses.
via Read More.
Some landlords are starting to adjust the amounts they collect from their tenants based on the credit strength of the tenants. Many claim this is discrimination and there are probably some localities either preventing it or limiting it, or they will
Ziv described a “professional tenant,” someone who goes from rental house to rental house, causing problems and then bailing, repeating the process. “They look good in theory, but when you check them out they are not,” he said.
Running background checks on some people is not always convenient, which is why Ziv would like to see a Web site where landlords can collaborate and share information about problem tenants.
via ColumbiaTribune.com.
…along with a couple of deadbeat lease option tenants who decided to trash the house and skip town for Alaska in the middle of the night. True story. Had I bothered to screen them properly, this could probably have been avoided, but I was so eager to get a paying tenant into the property that I didn’t bother. (Mistake #1).
via Bigger Pockets .
