Any Landlords here? Questions

Discussion in 'The Duck Hunters Forum' started by seiowa, Sep 11, 2017.

  1. seiowa

    seiowa Senior Refuge Member

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    Location:
    Iowa
    Thinking of purchasing a couple of units to rent out to folks. I seem to have found some that are that middle ground of not a slumlord property but affordable enough I shouldn't have trouble filling them.

    I have a couple deal breakers that since this isnt Craigslist I will divulge here, where I can't be legally implicated for "discrimination". I figure to keep the property in the best condition, I'm gonna try like hell to rent to people without kids. No college students/early 20somethings. No dogs.

    Now where I am asking for help to minimize my headaches, how do y'all that own rental units vet your applicants? I used to work a position at a small company years ago that could loosely be classified as HR. As such hiring/interviews fell to me. I was/still am pretty sharp at judging character, and using things like my states online court search database to weed out the "undesirables". I can find things such as criminal record, driving record, and most importantly for my purposes, garnish orders/small claims filed by banks, CC companies, etc.

    What other things can I do to vet these folks carefully? I realize that anyone who isn't in their 20's and is renting probably has a few speed bumps in their credit history and that is to be expected. I just don't want a habitual debt skipper signing my leases. Also folks with a lengthy criminal history I'm gonna try and stay away from.

    I will require my own rental application (free of charge, charging folks for that is some real BS), that will include employment verification in the form of a reference call to a superior, reference of past landlord/management office, etc to get a handle on their job security/attitude/rental history.

    Also, for you landlords out there, do you have legal counsel on hand? I've seen my share of evictions go really pear shaped and if you don't do everything by the letter, sometimes the dirtbags have more rights on paper than the good guys. I realize eviction notices and procedures run through the sherriff's office should it need to be done forcibly. But as far as people wanting to fight on deposit returns or lack thereof, how often does this get hairy? I can't imagine most renters have the finances or the legal might to fight you much, but who knows...

    Lastly, personal safety. It made the papers here a couple years ago a landlord got shot by some disgruntled former tenants. No reason to let these folks know where I live but I'd be lying if I said in the back of my mind the thought wasn't there of me getting bopped over the head some night by a guy whos deposit I kept and somehow stalked me.

    Some people no doubt say renting out property isn't worth the headache but I like to think myself a good enough judge of character I hope to minimize that aspect. Also I like to stay busy and tinker so I dont mind the occasional call to go and fix stuff. Said properties in question shouldn't require much in that way anyhow.

    Any and all advice, experiences, horror stories, etc appreciated guys.
     
  2. Troller

    Troller Senior Refuge Member

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    Jan 17, 2017
    Within reason, a long term tenant trumps everything as long as they pay.
     
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  3. TheDuckSlayer

    TheDuckSlayer Elite Refuge Member

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    Mobile Delta
    Don't rent to people with neck tats
     
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  4. Ravenanme

    Ravenanme Elite Refuge Member

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    Close to where I hunt
    After 30 some years of being in partners with the Bank on 3 rentals I can offer this advise , I was sure glad to end up paying them off !
    The one requirement I would suggest is , having rental applications , these are offered online and also at the stationary supply stores .
    They really require a applicant to answer the basic questions ( employment , family size ect: ) but also banking info . What I and ( you might be )
    more interested in , was , the option of selecting / weeding out the ones I didn't want to do business with ! The greatest advantage to this
    app info was their current address , this allowed me to visit the ones I thought were potential renters as , the way they lived or , how they took care of
    where they were at , showed me a lot . If that wasn't possible a call to their present Landlord would sometimes help . I don't like or need
    references.....I would find all I wanted with a few phone calls by talking to their neighbors , other than that , use your good sense of judgement !

    Hope this helps
     
    Last edited: Sep 11, 2017
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  5. The_Duck_Master

    The_Duck_Master Elite Refuge Member

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    Location:
    Salem, Oregon
    Only suggestion is to hire a good property manager. It is easily worth the 8-10% they charge. In a strong rental market like we have here I run month to month rather than lease so I can kick them out at the end of the month. It is the lease that gives them longer protection from eviction.
     
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  6. darkvibe

    darkvibe Senior Refuge Member

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    Location:
    New York
    As a renter I know my landlords use a minimum income requirement to week out the riff raff.
     
  7. coachcornbread

    coachcornbread Elite Refuge Member

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    Your moms bedroom
    One thing I've seen required is a copy of their current power and cable bill. Reason being is they (landlords) want to see if they (tenants) are on time with payments or if they are behind.
     
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  8. seiowa

    seiowa Senior Refuge Member

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    Location:
    Iowa
    True. I would rather have one okay tenant that at least pays on time and stays for 2 years than a bunch of stellar all stars that only stay 6 months a piece.

    Glad to hear an opinion on this. Usually I'm a believer in "don't pay for stuff you can do yourself" but at least the administrative side of things makes me wonder on it a bit. Thanks for the input.

    Great idea. last thing I want is people to bail on utilities/cable/internet leaving me slack jawed holding the bill.

    Thanks for the info fellas, lots to think about.
     
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  9. The_Duck_Master

    The_Duck_Master Elite Refuge Member

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    Location:
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    Oh, I am the same way up to a point. I would normally do most of the maintenance on the rentals, too, but my property manager has a handyman that makes that not worth my time. If you haven't rented before you should consider it for the first year, anyway. I do my own books and taxes, though. That said, the property manager makes that easy, as well. It certainly does depend on your market, though.
     
  10. seiowa

    seiowa Senior Refuge Member

    Messages:
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    Apr 23, 2015
    Location:
    Iowa
    Market is great. Iowa City. Not looking to student market as cleaning puke out of carpets 10x a year + keg parties doesn't sit well with me. There is a huge market of post grads staying around but unsure of their future so they don't wanna buy, but they can afford better than a slum house downtown also. Some work for the University still as they get preference, so they actually make pretty good coin as far as renters go.
     

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