Rent and Deposits | What every Avoid the NIGHTMARE tenant and eviction: 5 months ago   10:12

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Comments 22 Comments

Mike Anderson
I made money off pet rents due to this channel and re-key fee. :)
I like apples I like apples
Lol some parts it feels it’s a guid on how to screw tenets lol but I’m ok with it. I’m not a renter
Jeff Robins
Thanks for the videos. Q: what’s your thoughts on IREM? Is it just a private organization or something else?
Judgment Proof
Sometimes though, not everyone has that much money especially if you're on fixed income and already pay the bills. If you're in a situation where you must move then there's a high likelihood of someone being on section 8. You suck if you don't take section 8 especially if it's from a good tenant who actually pays the bills and stays out of trouble. Good tenants are actually worth the investment and property improvements if you find they take care of stuff and they happen to have something in their home that's been there for quite a while and it's been well kept, but it looks like it's getting a little old. Again, good tenants even if they're on section 8 are worth the investment. There are some on section 8 who are a bad tenants, but there are also people not on section 8 who are also bad. Not everyone on section 8 is bad and not everyone not on section 8 is bad, there are definitely good tenants out there so don't be afraid to work with them
James Knight
Deposit adjudication is so tenant biased here in the UK, that I just add money to the rent, and don't take a deposit.
Tan P
Seriously underrated channel. You guys seem really knowledgeable about the psychology of what tenants are thinking. Thanks for everything yall do
Casmige
"Niggardly"
kızıl ejder
simple question : İve got a house right now that ı plan to rent. a renter came good credit and solid but wants to pay yearly and wants discount. İf ı go on this he will be paying 1 years rent and 2 month in deposit. what should the discount be .
Ms Janet
A landlord needs to be honest and not greedy or try taking advantage of renters. I've found most owners to be greedy and dishonest. You should let owners know they should treat tenants how they'd want to be treated....
lil lee
I am a landlord. I check a tenant background and she have a evicted show in her credit report? I ask her and she sayed is not true. Legally can I send her the credit report? Do you think it is if I take tenants with eviction? It was happen in her case in 2015
Sabine Pabst
I'm a landlord and go by their credit score. If under 600, I charge 2x's the deposit.
working shlub
the security deposit law in mass is crazy..i do not even bother to many evictions have been overturned in favor of tenant because of this..i heard one case where landlord did not pay 3$ in interest to the tenant on the deposit and a eviction was thrown out.
Justin Crediblename
...or one brand new ipod from not paying you! true story.
funky2foto
Guidence needed: How do you collect deposits/fees and sign new leases on existing tenants on a newly purchased property?
If you discussed this, a link would be fantastic.

Love the "Hey can I pay part........". "No".
Landlord Advice
I agree tenant needs to pay the fully amount required before moving in. I had a couple of young college guys ask to move-in and pay the security deposit later. I told them we can sign the lease now, but you won't get the keys until we get the security deposit. That's the way I run my business. Incredibly, these guys came up the the security deposit right then and there. I got my deposit and they got the keys. For more landlord advice, visit http://LandlordAdvice.Net It's FREE to become a member.
Ton Robert
Do you accept cash ?
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Avoid the NIGHTMARE tenant and eviction: Rent and Deposits | What every 5 months ago   16:41

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Here is my screening process when looking for a tenant. As a landlord and Realtor, I have leased HUNDREDS of places - these are the red flags I've noticed and how I now go about selecting the best tenants. Enjoy! Snapchat/Instagram: GPStephan

1 .Bad Credit Score. This is something I can sometimes let slide depending on the situation, but generally this is a red flag. A credit report and score shows you how responsible your tenant is paying their bills and loans. Often times if you see they’re behind on car payments, medical bills, have liens or judgements against them…chances are, they’re not going to be an ideal tenant. Now every situation is different and each case is treated individually. But generally speaking, if they’re consistently late on their bills, have large amounts in collections, and otherwise they don’t care - pass.

2.The next red flag is when the tenant has a lot of unreported income. First of all, regular cash deposits are usually an immediate red flag that something is sketchy, and the type of person who does this for the purposes of avoiding the IRS is already not someone I want to associate myself with. But generally with cash income comes infrequent income, and this is the type of tenant who might not have rent every month. Usually this type of tenant is doing something sketchy, it might not be sustainable, and it’ll be inconsistent. They could also be trying to hide from collections by keeping what they need to in cash, so I suggest looking closely at avoiding this person.

3. The next one is wanting to move in ASAP. Although this isn’t always a red flag, this is something I’m extremely weary about. This is something I take on a case-by-case basis. Some times the tenant just didn’t have time to find a place and their lease is up…that’s cool if you can verify it. Other tenants just want to get the house hunt out of the way by locking something down ASAP and then having an overlap, that’s cool to. But there are other tenants who are in the process of being evicted or forced out of their last home and just need somewhere to move immediately and use this as a negotiating point for landlords. Be weary of someone willing to move in immediately, it could be fine or it could be a way for a tenant to lock something down before they’re evicted. Find out why they’re moving and if you trust that’s the truth.

4.The next is not providing their previous landlord’s information or lying on their application. Many tenants refuse to put their landlords information on their applications. Many times they’ll have an excuse like they aren’t on good terms, its a he said she said story, or they don’t want to tell their landlord that they’re moving…in any event, it’s an immediate red flag and seems sketchy to me. If they’re not providing their landlords information, they’re withholding information from you to make an informed decision about this tenant. Many tenants will also lie on their applications and put someone else’s number who will pretend to be the owner. If this happens, immediately cut them off…this happens way more than you’d think.

5.Doesn’t show u on time or doesn’t pay on time. Hopefully this happens BEFORE you sign a lease with them. If the tenant doesn’t show up on time for an appointment, this is something you should consider. Generally the people who don’t show up on time will not be the type to pay on time. Make it a priority for the tenant to pay on time. Another one is if the tenant doesn’t pay their deposit or first months rent on time…if they make an excuse early on, take this as a sign that they aren’t the right tenant for you.

6.Trust your gut - if you feel uneasy about someone, go with your intuition. I really believe that your intuition will pick up things that a logical approach will not…if you feel uneasy about a tenant, trust it. Even if everything logically checks out, it’s important you feel confident and sure of your decision on a gut level as well.

If you follow the above, you’ll be in a much better position to pick the right tenant.

For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com

Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq

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