Sep

19

Hello everyone,

Picking a good renter is akin to picking a good stock. You interview and evaluate, then hope for the best.

I use e-renter.com for background checks after an application is completed.

I NEVER rent to anyone without a full deposit being paid.

Also it helps to have the possible new renters go through the unit and then I slip out to inspect the interior of their vehicle. This is a tip off as to how they will keep my unit. Hopefully they are driving their own vehicle!

To me choosing a good stock has similarities to picking a good renter.

With either you may end up with a lemon.

Regards,

Alan

Pitt T. Maner writes in: 

Here's an odd side effect of South Florida's foreclosure crisis: Some immense homes with pools and three-car garages in gated communities are being rented out to unlikely tenants — poor people paying with Section 8 aid. Among the properties are homes with up to 4,500 square feet of space in private communities with guardhouses and regal names such as "Monarch Lakes" and "Bellagio at Vizcaya."

Some of the owners are teetering on foreclosure and gambling they can earn enough money from the federal housing vouchers to stave off the banks. Others bought the properties cheap in foreclosure auctions and want the guaranteed rental income.

The Sun Sentinel examined federal housing subsidy data from housing authorities in Broward and Palm Beach counties and found 230 homes commanding rents of $2,000 or more, up to $3,375 a month, from Section 8 families. Typically, tenants pay about one-third of their income toward the rent and the government pays the rest.

Full article here: "Section 8 Gated Communities"


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