New Year Goals

[dynamic Real Estate]

I sure do hope to find better tenants. We are screening thoroughly and not cutting any corners. We will keep our units vacant until we find applicants that meet our criteria. No more renting units because we get desperate, it’s not worth the headaches and problems bad tenants have given us.

[Ryan Squires]

Yeah. A bad tenant can sure set you back. What were you using for screening before? Did you make any changes?

[Ava Johns]

Goals for the new year: save up to buy my next rental!

[Balaji Ramasubramanian]

1. Do important updates and enhancements to the property to improve desirability of property.

2. Set very strict rules in tenant screening and select tenants very carefully, even if that means the property is vacant for months.

3. Make a rock solid lease that allows the tenant one late payment. Immediately upon the second late payment the lease gets terminated for cause, thus making them a holdover tenant. Post a 3 day notice to quit with no opportunity to pay and stay. If we have to go to court, the tenant cannot “Pay to Stay”, since the first question is whether the tenant is a holdover. Since they are a holdover, they cannot pay the outstanding rent and stay. Tenants that have been terminated for cause are subject to liquidated damages fee of 2x the rent, plus attorneys fees and court fees if we have to go to court.