Finding a good renter [Archive] - Two Plus Two Older Archives

View Full Version : Finding a good renter

BreakfastBurrito

07-27-2005, 12:56 PM

So I bought this townhouse in Phoenix with my little bro with the intention of renting it. He lives out there so is in charge of finding a renter, which he's been unsuccessful at so far. Although today I think we've finally found the perfect renters! Below is the e-mail my brother received today.

My name is Dan H,

Please let me explain the specifics of our predicament, this house is for my wife whom I am currently separated from and my two girls ages 22, 15. Our credit is bad due to my irresponsibility's, not my wife's. I have an eviction notice on my record because of irresponsibility's on my part, unfortunately this eviction notice is on her credit also. Needless to say she does not have a positive payment record with our former landlord due to me.

She then moved in with her brother who proceeded due to a drug problem with a friend was kicked out of their house. She had made the payments to him per their agreement but he decided to spend the money on drugs instead of paying the bills.

Angela and the girls are staying at the Extended Stay Motel across from MetroCenter, all of us are trying to get them out of there but everyone wants the first, last and install rent plus deposits which we cannot generate the funding for.

I have committed to them $650.00 a month child support and will not let that fall behind because I don't believe in making kids suffer and I will not do that to mine. It isn't court ordered but no matter what my child will not suffer if her mother and I cant get along. I am not made of that... with all that has happened and the situation everyone is in we (all of us) have committed to never allowing this to happen again.

Anyway all they (we) are looking for is a break or help, we used to live in North valley and my daughter was enrolled in Barry Goldwater High School. If we can pay the deposits by the end of the next month I sure would appreciate it.

She also has a dog which we have had for 8 years so he is up in age, he
weighs about 35 lbs and is a huge baby....

Anyway that is the story behind our situation, like I said all we are looking for is a break, my daughter is starting school soon and needless to say her life has be uprooted. If you could help we would surely appreciate it. We are also willing to pay extra for working with us on the deposits

My wife and daughter currently work for Savers in the production area and I work for the County Attorney. With child support and their wages their monthly income is approximately $2500.00 a month with additional support from me if needed, as I really need to get them out of the situation they
are in.

Thank you

touchfaith

07-27-2005, 01:00 PM

Possible domestic violence, probable drug use and an absolutely big huge dog.

These people sound perfect to me.

Give them a move-in discount.

jakethebake

07-27-2005, 01:14 PM

Make him put the daughters up as collateral.

Los Feliz Slim

07-27-2005, 01:25 PM

Is this supposed to be funny? Because it's not. It's sad.

handsome

07-27-2005, 01:28 PM

[ QUOTE ]
Is this supposed to be funny? Because it's not. It's sad.

[/ QUOTE ]

I thought it was funny /images/graemlins/confused.gif

sfer

07-27-2005, 01:47 PM

I can't be the only person who thinks that posting this letter in a public forum, if it's real, is quite rude and inconsiderate.

Macdaddy Warsaw

07-27-2005, 02:02 PM

[ QUOTE ]
Possible domestic violence, probable drug use and an absolutely big huge dog.

These people sound perfect to me.

Give them a move-in discount.

[/ QUOTE ]

A 35 pound dog is "absolutely big huge"? What?

Smackdab

07-27-2005, 02:06 PM

I own/manage 300+ units. I have a scoring criteria from which I NEVER deviate. Of course being a large property management company I have Fair Housing guidelines to adhere to as well.

I use 3 main criteria and then break down scoring by importance.

1. Employment - 40% of total score in this area.
a. length of employment
b. salary - if the applicants rent:eranings ratio is less than 30% they are automatically disqualified
c. length of previous employment.

2. Credit - 40% of score
a. Points awarded based on average credit score. Obvciously the closer to 1 the higher the score.
b. Bankruptcies or lack thereof worth small amount of points. Having a bankruptcy does not count against score.
ANY ACCOUNTS PLACED FOR COLLECTION IS AUTOMATICALLY A DISQUALIFICATION

3. Past Rental history
Basically a series of questions regarding applicant's tenancy to be answered by previous landlord. Late payments, lease violations, condition of apartment.
IF THERE HAS BEEN AN EVICTION AUTOMATIC DISQUALIFICATION

Seems to me these folks meet criteria for at least 2 automatic disqualifications using my screening process. This is a no brainer. NO.....NO........NO

A bit of advice. While you may have been on the market awhile do not rush to put just anyone in there. If they do not meet your criteria for what you are looking for in a tenant then no matter what "extenuating" circumstances they think they have they are not qualified and will be more trouble in the long run. I'm not sure of eviction laws in AZ but I know this: If you let them in w/o being qualified you may end up with a deposit and teh first months rent. At end of second month they haven't paid, don't have the ability to pay and you are now forced to seek possession of the unit through legal means. This of course will involve retaining counsel, court time and allowing them to continue living there rent free basically until the eviction is successful. Granted, you may get a judgement for rents owed but you can't squeeze blood out of a turnip. Pass on this and wait for a qualified tenant.

Another piece of advice. I have in my lease a close which basically states that in teh event of forfeiture on the part of the tenant they are responsible for all legal fees and court costs.

touchfaith

07-27-2005, 02:25 PM

[ QUOTE ]
I own/manage 300+ units. I have a scoring criteria from which I NEVER deviate. Of course being a large property management company I have Fair Housing guidelines to adhere to as well.

I use 3 main criteria and then break down scoring by importance.

1. Employment - 40% of total score in this area.
a. length of employment
b. salary - if the applicants rent:eranings ratio is less than 30% they are automatically disqualified
c. length of previous employment.

2. Credit - 40% of score
a. Points awarded based on average credit score. Obvciously the closer to 1 the higher the score.
b. Bankruptcies or lack thereof worth small amount of points. Having a bankruptcy does not count against score.
ANY ACCOUNTS PLACED FOR COLLECTION IS AUTOMATICALLY A DISQUALIFICATION

3. Past Rental history
Basically a series of questions regarding applicant's tenancy to be answered by previous landlord. Late payments, lease violations, condition of apartment.
IF THERE HAS BEEN AN EVICTION AUTOMATIC DISQUALIFICATION

Seems to me these folks meet criteria for at least 2 automatic disqualifications using my screening process. This is a no brainer. NO.....NO........NO

A bit of advice. While you may have been on the market awhile do not rush to put just anyone in there. If they do not meet your criteria for what you are looking for in a tenant then no matter what "extenuating" circumstances they think they have they are not qualified and will be more trouble in the long run. I'm not sure of eviction laws in AZ but I know this: If you let them in w/o being qualified you may end up with a deposit and teh first months rent. At end of second month they haven't paid, don't have the ability to pay and you are now forced to seek possession of the unit through legal means. This of course will involve retaining counsel, court time and allowing them to continue living there rent free basically until the eviction is successful. Granted, you may get a judgement for rents owed but you can't squeeze blood out of a turnip. Pass on this and wait for a qualified tenant.

Another piece of advice. I have in my lease a close which basically states that in teh event of forfeiture on the part of the tenant they are responsible for all legal fees and court costs.

[/ QUOTE ]

These are the lamest set of requirements I have ever seen. Can't you just take your lame requirements and plug them into a computer?

Afterall, you are making mindless decisions already right?

Let's say I have a 1.5 year long dispute going on with DirecTV. They, by matter of procedure, have placed the account 'in collections' while being disputed. In your world, I am disqualified from renting?

Lame.

Smackdab

07-27-2005, 02:35 PM

[ QUOTE ]
These are the lamest set of requirements I have ever seen. Can't you just take your lame requirements and plug them into a computer?

Afterall, you are making mindless decisions already right?

Let's say I have a 1.5 year long dispute going on with DirecTV. They, by matter of procedure, have placed the account 'in collections' while being disputed. In your world, I am disqualified from renting?

[/ QUOTE ]

This is just a general overview of the requirements. There is alot more detail involved.

Mindless?
Much thought went into what type of requiremnts would need to be met by a prospective tenant that I would want renting from me. After I arrived at what I wanted then yes it should be pretty mindless. According to Fair Housing law I can have whatever requirements I desire so long as I enforce them uniformly.

Yes. If you have an ongoing dispute with DirecTV for the past year and a half and have been placed for collection you won't be renting from me. Sorry to hear that in all likelihood you didn't honor the terms of your contract, probably because of "extenuating" circumstances.

I would also add that I have looked at my records for the past 3 years and could only find 4 cases in that time period where I have had to seek forcible detainer on a tenant.

HMMMMMM......... seems like I am getting the desired type of renter and my criteria are working out pretty well for me. If however you think you have some good ideas along these lines, have experience in this field and would like to pony up the necessary funds to become a full partner I would be willing to listen your thoughts on what a good screening procedure would be.

On second thought....... you owe DirecTV so you probably don't have the funds. You sound like someone with alot of issues and I have simplified my life and since my criteria are working so well business is good and I need no additional capital so not looking for a partner.

In short.....if you don't know what you are talking about ....STFU!

touchfaith

07-27-2005, 02:43 PM

[ QUOTE ]
[ QUOTE ]
These are the lamest set of requirements I have ever seen. Can't you just take your lame requirements and plug them into a computer?

Afterall, you are making mindless decisions already right?

Let's say I have a 1.5 year long dispute going on with DirecTV. They, by matter of procedure, have placed the account 'in collections' while being disputed. In your world, I am disqualified from renting?

[/ QUOTE ]

This is just a general overview of the requirements. There is alot more detail involved.

Mindless?
Much thought went into what type of requiremnts would need to be met by a prospective tenant that I would want renting from me. After I arrived at what I wanted then yes it should be pretty mindless. According to Fair Housing law I can have whatever requirements I desire so long as I enforce them uniformly.

Yes. If you have an ongoing dispute with DirecTV for the past year and a half and have been placed for collection you won't be renting from me. Sorry to hear that in all likelihood you didn't honor the terms of your contract, probably because of "extenuating" circumstances.

I would also add that I have looked at my records for the past 3 years and could only find 4 cases in that time period where I have had to seek forcible detainer on a tenant.

HMMMMMM......... seems like I am getting the desired type of renter and my criteria are working out pretty well for me. If however you think you have some good ideas along these lines, have experience in this field and would like to pony up the necessary funds to become a full partner I would be willing to listen your thoughts on what a good screening procedure would be.

On second thought....... you owe DirecTV so you probably don't have the funds. You sound like someone with alot of issues and I have simplified my life and since my criteria are working so well business is good and I need no additional capital so not looking for a partner.

In short.....if you don't know what you are talking about ....STFU!

[/ QUOTE ]

I think I just saw you on The Peoples Court.

You lost.

bwana devil

07-27-2005, 02:44 PM

this person came to you hat-in-hand and asked for some help and you in turn revealed the person's personal problems so he could be ridiculed?

perhaps you may want to request one of the mods delete it. this is in very poor taste. you should really take privacy issues and laws into consideration more before becoming a landlord.

JaBlue

07-27-2005, 02:48 PM

This is pretty damned sad and you're a jerk.

dabluebery

07-27-2005, 03:03 PM

Maybe he changed the names to protect the innocent.....

But probably not. Bad form.

BottlesOf

07-27-2005, 03:16 PM

[ QUOTE ]
I own/manage 300+ units.

[/ QUOTE ]

Any in Manhattan? /images/graemlins/grin.gif

TimM

07-27-2005, 03:40 PM

[ QUOTE ]
[ QUOTE ]
I own/manage 300+ units.

[/ QUOTE ]

Any in Manhattan? /images/graemlins/grin.gif

[/ QUOTE ]

He knows you play poker. DISQUALIFIED!

Smackdab

07-27-2005, 04:15 PM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I own/manage 300+ units.

[/ QUOTE ]

Any in Manhattan? /images/graemlins/grin.gif

[/ QUOTE ]

He knows you play poker. DISQUALIFIED!

[/ QUOTE ]

Regrettably no. none in Manhattan.

Playing poker would not disqualify him either. As long as any earnings can be corroborrated (sp) on his tax returns. /images/graemlins/grin.gif

youtalkfunny

07-28-2005, 03:31 AM

I never understood landlords who had higher standards than mortgage lenders.

If I had perfect credit, a long time at my current job, and made lots of money, I'd buy a freaking house! I wouldn't need to rent from you!

I'm not saying to hand the keys over to the first guy to ask for them. But I can't be the only one to see the difference between the DirecTV guy, and the letter writer in the OP.

blatz

07-28-2005, 03:43 AM

I'd meet up with them and check them out and possibly rent to them if they seemed like good folks.

But I'm a decent guy who's has been helped out of jams before by caring strangers.

jakethebake

07-28-2005, 08:53 AM

[ QUOTE ]
If I had perfect credit, a long time at my current job, and made lots of money, I'd buy a freaking house! I wouldn't need to rent from you!

[/ QUOTE ]

Except that buying is not always the smartest thing for everyone.

touchfaith

07-28-2005, 10:32 AM

[ QUOTE ]
I never understood landlords who had higher standards than mortgage lenders.

If I had perfect credit, a long time at my current job, and made lots of money, I'd buy a freaking house! I wouldn't need to rent from you!

I'm not saying to hand the keys over to the first guy to ask for them. But I can't be the only one to see the difference between the DirecTV guy, and the letter writer in the OP.

[/ QUOTE ]

DISQUALIFIED! for arguementiveness

touchfaith

07-28-2005, 10:33 AM

[ QUOTE ]
I'd meet up with them and check them out and possibly rent to them if they seemed like good folks.

But I'm a decent guy who's has been helped out of jams before by caring strangers.

[/ QUOTE ]

DISQUALIFIED! for common sense.

touchfaith

07-28-2005, 10:34 AM

[ QUOTE ]
[ QUOTE ]
If I had perfect credit, a long time at my current job, and made lots of money, I'd buy a freaking house! I wouldn't need to rent from you!

[/ QUOTE ]

Except that buying is not always the smartest thing for everyone.

[/ QUOTE ]

DISQUALIFIED! for umm...DISQUALIFIEDness! /images/graemlins/cool.gif

Smackdab

07-28-2005, 11:27 AM

[ QUOTE ]
[ QUOTE ]
I'd meet up with them and check them out and possibly rent to them if they seemed like good folks.

But I'm a decent guy who's has been helped out of jams before by caring strangers.

[/ QUOTE ]

DISQUALIFIED! for common sense.

[/ QUOTE ]

This is common sense?

Yea, good idea. Seems liek a good guy so I'll rent to him. Damn any other screening process. I'm going with my gut here.

20 years in the business and I'm an idiot. I could have just sat people down for 15 mins talked to themn and then made my decision based on gut instinct.

BTW

Thin Man

DISQUALIFIED! for being a loser playing .5/1 while living in his parent's basement and making 926 pretty much useless posts in 8 months as a reg'd user.

I am quite sure you have exactly 0 experience in operating a business or the management of rental property. On the other hand I have been in the industry for 20+ years. I started with a duplex of my own when I was 22 and now own 167 units. I also manage an additional 130+ units that the owner's of those properties pay me 8-10% of gross rents for the service. Obviously I have no clue what I am doing.

On the other hand you have zero experience and are an authority. SO I will offer you a one time deal today only. You can purchase all units owned by me for $8 million and I will sell you the management business of the other properties for 3x gross annual income which is the going rate for a business of this type. Round that off to around 900k.

So for the bargain basement price of $8.9 million you can prove how superior your unqualifed way of doing things is so much better.

However, I'll lay 4:1 that if you take me up on this offer your broke within 2 years. Put up or shutup.

scrub

07-28-2005, 12:50 PM

[ QUOTE ]
I never understood landlords who had higher standards than mortgage lenders.

[/ QUOTE ]

Default is a much bigger problem for a landlord with a relatively small number of units than it is for a morgtage lender who has a larger, diversified portfolio of debt and will probably be reselling the loans anyway.

Being a landlord would suck.

scrub

Sponger15SB

07-28-2005, 12:55 PM

[ QUOTE ]
Playing poker would not disqualify him either. As long as any earnings can be corroborrated (sp) on his tax returns. /images/graemlins/grin.gif

[/ QUOTE ]

Wait, poker players have to pay taxes?!?!?!

AH [censored]!

razor

07-28-2005, 01:49 PM

[ QUOTE ]
[ QUOTE ]
Playing poker would not disqualify him either. As long as any earnings can be corroborrated (sp) on his tax returns. /images/graemlins/grin.gif

[/ QUOTE ]

Wait, poker players have to pay taxes?!?!?!

AH [censored]!

[/ QUOTE ]

you consider this post funny and orginal?

fingokra

07-28-2005, 01:52 PM

nearly 8000 posts and your looking for funny and orginal /images/graemlins/confused.gif

youtalkfunny

07-28-2005, 03:12 PM

[ QUOTE ]
Being a landlord would suck.

[/ QUOTE ]

Brother, I hear that! I know I couldn't do it.

CORed

07-28-2005, 04:08 PM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I'd meet up with them and check them out and possibly rent to them if they seemed like good folks.

But I'm a decent guy who's has been helped out of jams before by caring strangers.

[/ QUOTE ]

DISQUALIFIED! for common sense.

[/ QUOTE ]

This is common sense?

Yea, good idea. Seems liek a good guy so I'll rent to him. Damn any other screening process. I'm going with my gut here.

20 years in the business and I'm an idiot. I could have just sat people down for 15 mins talked to themn and then made my decision based on gut instinct.

BTW

Thin Man

DISQUALIFIED! for being a loser playing .5/1 while living in his parent's basement and making 926 pretty much useless posts in 8 months as a reg'd user.

I am quite sure you have exactly 0 experience in operating a business or the management of rental property. On the other hand I have been in the industry for 20+ years. I started with a duplex of my own when I was 22 and now own 167 units. I also manage an additional 130+ units that the owner's of those properties pay me 8-10% of gross rents for the service. Obviously I have no clue what I am doing.

On the other hand you have zero experience and are an authority. SO I will offer you a one time deal today only. You can purchase all units owned by me for $8 million and I will sell you the management business of the other properties for 3x gross annual income which is the going rate for a business of this type. Round that off to around 900k.

So for the bargain basement price of $8.9 million you can prove how superior your unqualifed way of doing things is so much better.

However, I'll lay 4:1 that if you take me up on this offer your broke within 2 years. Put up or shutup.

[/ QUOTE ]

pwn3d

touchfaith

07-28-2005, 04:17 PM