Posted by dave on June 11, 2011 at 11:33:24:
I have had tenants during eviction process go to jail on warrants and abandon my apt or home or just decide to disappear to avoid a judgement for money owed winding up on there door step in there new place they decide to move to. The key is moving them out as fast as you can to keep your ROI up for that year on your income property. Then any money owed get the judgement and use the various means for collection.
Tenant evictions are easiest when the tenant doesnt show up in court. When they show up its a fight that must be done with records and proof of your case to keep them from taking up time in your rental unit. I never let cash strapped tenants enter my dwelling. By forcing them to cough up the total amount they prove they have the ability to afford unit. If they cant even get you 1st months rent and security it means they have no emergency fund and are highly susceptible to eventually not paying within the 1st 6 months. another thought is tenants that dont put up a full security deposit have no interest in keeping your dwelling in good shape since they have nothing to lose. I want a tenant to have skin in the game just like the banker would want me to have if I borrowed money on the dwelling. Screening tenants can bed done with online services that cost less then $30 per client. I get an application fee and return the fee if they are approved. If potential tenants dont want to pay then I figure they really arent quality clients and arent financially capable of carrying rent monthly since $40 is a big deal to them. I also like to see there income to be at least 3 times that of the rent monthly or I never let them in my units.