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Old 11-13-2018, 02:46 PM   #13
OMG!WTF!
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Join Date: Oct 2014
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When screening tenants make sure to do a credit check. They can and do lie about every other single thing but a credit report tells the honest truth no matter what. I rented out 450 units during a two year span as a real estate agent and it's remarkable how few times my feeling about someone was correct. Almost without exception the people I thought were losers turned out to be great tenants and the good looking ones were scum.



Make sure to do a walk through report with the tenants and document everything. You can't keep their security deposit unless you have a move in report. And know what you can and can't charge for, like what is wear and tear and what is extraordinary damage. Tenants also need copies of everything. Pics are great.



If you can furnish the place you might get more rent, especially if it's downtown. I can furnish and outfit a place for about 4k and it used to get me an extra 3-400 a month on a one bedroom. I think now it might just open up other markets for you and make it easier to rent.



Hiring a management company is not a bad idea. Lots of people rent through companies. Everything is much easier and it usually costs half of the first month and maybe up to 10% a month afterwards. If it saves you one month of vacancy a year it's almost paid for.


Tenants often turn into buyers. Just keep that in mind if you're wanting to sell.
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