Thread: Tenants from Hell, Slum Landlords, and Run Down Rental Houses

So, you've been working for years, you've saved up some money, and you've decided to invest it in a more secure market, the myth of unsinkable real estate investment, by buying certain residential properties, houses or an apartment complex, in order to generate some steady, passive income, so you think.

You spend additional money, let's say $45,000, improving the property; you paint it, put in new carpets, new kitchen cabinets, washer and dryer, and everything else, hoping to entice your prospective tenants. So, you've bought some ads in your local newspapers, and little did you know, you've finally found someone who's willing to sign your lease agreement.

Now that he or she has moved in, you don't have to worry about fixing stuff inside the property, because everything was new and in super working condition when your tenant first moved in.

You're now reaping the benefits, just as you've planned it. Your tenant pays the rent on time each month; so you have nothing to worry about. The money is good, right? Yeah, right. A few months later, the police is called for domestic disputes at your property, but no big deal, right? Right! A few more months, the neighbors complain about loud music from your property, but it's okay, no biggie.

The time goes by real fast, sooner than you thought, the lease comes to an end, and it's time for him or her to move out, and you go do the final walk through, inspecting the property. To your surprise, the house is a mess, it looks like a zoo, there're holes in the walls, the carpet looks nasty and filthy, the new kitchen you had renovated is gone, the walls are red-and-brown from cigarette smoke, and everything in the house needs to be replaced.

Wow, what went wrong? He or she always looked clean, drives a nice car, and paid his or her rent on time. So, what went wrong? You've charged the fair market price value, let's say $3,450 a month in rent, plus a deposit of one month's rent, that's $44,850 a year, and that's good, right? Right!

After your tenant has moved out, you called up your contractor to give you an estimate of how much it will cost to fix up the property and get it ready for the next tenant. The quote your contractor brought you is in the amount of, let's say $56,940, that's how much it's going to cost you to fix up the property, again, in order to make it ready for the next move-in.

But that's $11,940 more than what you've initially put in, so did you make any money from your first year of rental property? Then, what went wrong? What is it that you did or didn't do before signing the lease agreement? But you checked his or her credit report, and he or she had great FICO scores? Then why? But you've also checked his or her prior rental history with the former landlord?

Yes, you did, except, it was not as a detailed rental history report as it was supposed to be. RentersQ™ makes all that painless possible, so you know exactly whom you're renting to, before you rent.

RentersQ provides the RentersQ Record, a patent pending web-based comprehensive and innovative rental history reports which may contain complete and personalized rental history, tenant screening, and prior rental report for every tenant from anywhere in the world.

The RentersQ Record is easy to use and the best of it all, it's fast and free. It helps you get to know your tenants, any tenant, in great detail; it even warns you if the tenant smokes, makes excess and unwanted noise, reveals his or her housekeeping habits, personal characteristics and behavioral traits towards other tenants.

So, be smart, be well-informed, next time you rent to anyone anywhere, just run a RentersQ Record, get to know your next tenant better, before you rent, it's easy, safe, free, and fast.

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Landlord Ratings

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I just read an interesting article on Wall Street Journal that covers this exact topic.

Originally Posted by sloraider

I just read an interesting article on Wall Street Journal that covers this exact topic.

Would you care to please share the link to the article on WSJ?

Wow, that was a really good sales pitch, but as a landlord- I've heard these kinds of promises before from other services. The problem, what if this is their first time renting, you won't have any history on them. And what about the middle of nowhere USA, many small town landlords won't know about the service and unless the renters have had eviction filed on them in the past- again there won't be any records.
I did check out the site and will likely post a rental I currently have vacant on there. But do you guys guarantee to cover the $11,940 loss you mentioned in your example, if a landlord uses your services? I doubt it, while your site seems to offer some strong benefits to landlords and tenants, it can't predict the future...

Can't you sue this nasty, destructive tenant for the damages inflicted on your property?

I agree that it was a good sales pitch, but definitely not truthful.

First of all, if you had the police called onto your property for domestic violence, why wouldn't you go check things out? You wouldn't stop by and have a quick chat about what happened and why? Sure, you can get the information from the police report, but most would lie in their favor to the police in order not to head on down to the station.

Even if you were just too busy and let that slide - when you started getting complaints from other neighbors wouldn't you check it out? How long was this lease? In six months you didn't stop by once to check in your property? I know there are laws and restrictions on stopping by and checking things out, but I don't think any of those laws or restrictions completely ban the landlord from the owner of the property.

Even if you just drove by you'd be able to get a quick look on things - people who keep the inside of their house like a pig's sty don't normally take care of their cars or other toys.

I would definitely sue the nasty tenant if i was you. And here in Bulgaria they tend to really quickly pay the damages as soon as they get a subpoena from the court

i suggest you must take action for this nasty tenant to be sued, before he can inflict more damage...

RentersQ Record seems to be a very innovative concept and will do wonders for all people who own houses for rent. I am sure there are some fees involved. Or is it free to use?

Stumbled over your blog. Have you ever heard of NoPayTenants.com?