I have seven rental houses. Three where my Misses and the other ones I got thru the years. I had a lot of problems when I had poor homes to rent. I fixed them up and raised the rent. That alone got rid of most of the problems.
I was in a real estate law class one time. The fellow teaching it was very darkly sun tanned. Looked pretty permanent too. LOL He is/was one of our local prosecutors. He said you can discriminate against people buttttttt only if the color is green. His point don"t deal with people that don"t have any money.
I require two months rent plus a security deposit. The cheapest house I rent is at $750 per month. The move in cost on that house would be $2250. I also run a credit check. No one with bad credit gets in. I have some times had houses set empty while finding the right renter. You can find them you just have to look.
I also am a real hard butt on the rent being due on time. One late payment and you are out. I have a formal written lease that is filled out each time by my lawyer. I would rather pay him up front than later to remove some dead beat. The fill in the blank leases can be beat in court. I have evicted my own nephew. He was two weeks late on the rent because he bought a new pickup and blew his money on the down payment.
I have good houses. I keep them maintained. I fix things as soon as I know about them. Most of my renters are over sixty years old. Several of them just don"t want the worry of keeping a house up. This way they can just call me.
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Today's Featured Article - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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