Issue #55 - Brandon Cobb, The House Buyin Guys | Page 71

You ’ ve all heard the tenant horror stories from people who have had tenants in properties , but being a landlord doesn ’ t have to be difficult as long as you learn some strategies for handling your tenants . My husband used to say that handling tenants was like having a group of children that you have to train and discipline . But it doesn ’ t have to be that difficult . You do have to make some specific rules for your tenants and stick to them . Every time you change the rules you give your tenants the upper hand . You must also have an iron clad lease that specifically addresses the issues that you may have with tenants including getting your rent paid on time .

This is one area in which I am steadfast with the rules . I don ’ t care what the tenant ’ s situation is , their responsibility is to pay me on time and in full or they are stealing services from you without paying for them . My tenants are responsible for having the rent in our post office box or direct deposited through zelle or paypal on or before the date it is due or they are served with a three­day notice the next morning as required by law where I live in order to begin the eviction process . There are no exceptions . We even have tenants who send their checks to me priority mail to make sure they get to me on time . Most of our tenants have been with us a long time and many pay early .
You must also take the time to pre­qualify your tenants ’ right from the beginning so you can avoid some problems right from the start . Don ’ t just accept a tenant into your rental property because they have the money to move in . Don ’ t let greed be your guide . Have your tenants fill out a specific rental application . Then you run must a tenant check with a reputable company . Don ’ t try to do this yourself just by looking at public record . You will miss credit issues and anything that may have occurred out of state . You need to find out the information you need to know about your tenants ’ right from the start before renting them your unit .
For example , if the tenant check
Image by Tumisu from Pixabay shows the applicant was just evicted from another premises , this certainly isn ’ t going to be a tenant you want in your property . Or if your tenant has had recent felony convictions , this isn ’ t a tenant you want in your rental unit . If your applicant has multiple animals , this is also not someone you want in your rental unit . I will mention however , that I will allow a tenant with a small dog or cat to rent my units . I find that usually a tenant who has a pet that they have had for some time will make a good tenant who will stay longer in your unit .