How to maximize your interest when dealing with bad tenants

Since this topic are really hot last night, I want to expand
it a little bit:

 

1.      
I like Sun Tze, the best war strategy is
to prevent war from happening. I admire 如风如梦’s courage, but
going to war with your tenant is absolutely the last resort. Any war will have
unwanted collateral damage for the good and the bad. Going to court with your
tenant will hurt you as well.

2.       How
to prevent war from happening:

·        
You have to check the applicant’s credit score,
absolutely no exception (http://www.ctcredit.net)

·        
The tenants have to stable income, I learn a
lesson from that couple, the husband is contractor, income is not stable

·        
Bad credit score is not necessary bad, multiple
collections are no no

·        
Avoid bad area, most of us are amateur landlord,
bad area always have bad tenants, it is not worthwhile to deal with those guys

3.       If
the tenant stop paying rents, you do the following:

·        
Tell them to move out at the earliest
convenience by avoiding bad collection record, other, they will not rent
another house in the rest of their lives

·        
Give them cash incentive to move out, 10-day,
15-day and 30-day rent payment to move out

·        
They have to clean the house like before they
moved in, otherwise, they will not see a dime of their deposit

 

4.       If
all those measures fail, we go to war.

 

My point is if you let delinquent tenant live in your house
for more than 1 month, you are not a good landlord, sell your properties and
invest in REIT. Landlord business a tough business, you should have a big
heart, life is short, don’t get angry and happy life.

所有跟帖： 

• 同样楼主的方法。自己还没有碰到过不交租的。有过几次人家交了，我没收到（信一个月后才收到）。 -很闲- ♂ (0 bytes) () 09/26/2014 postreply 06:22:33

• 赞同你的做法，当地主不是要说法，遇到烂人要及时止损，move on -万枫- ♂ (0 bytes) () 09/26/2014 postreply 06:31:54

• 当然这是业余地主的做法，对于专业地主常年雇有律师，几乎每月都call几个租户出庭，那是不同的 -万枫- ♂ (0 bytes) () 09/26/2014 postreply 06:40:34

• Different markets need different strategies(and different landlo -borisg- ♀ (167 bytes) () 09/26/2014 postreply 06:37:35

• 作为业余小地主，经验是尽快去法庭最省事，也损失最小。 -naive2- ♀ (145 bytes) () 09/26/2014 postreply 06:57:34

• I will drag them to the court if they owe me the money -David2005- ♂ (229 bytes) () 09/26/2014 postreply 07:10:53

• 谢谢分享！下月五号不交满就及时送3-day通知，不再拖延 -快鱼吃慢鱼- ♀ (75 bytes) () 09/26/2014 postreply 08:08:44

• Well said -排毒灵- ♂ (0 bytes) () 09/26/2014 postreply 08:15:31

• 说的很好。但英文错误太多。 -Mason- ♀ (0 bytes) () 09/27/2014 postreply 13:45:15

• Just add a point to tenant -autumnmoon- ♀ (180 bytes) () 09/27/2014 postreply 18:12:24