Comments on: Tenant Screening http://baltimorerealestateinvestingblog.com/2008/03/tenant-screening/ Ned Carey's Comments on Real Estate Investing, Business and Finance Tue, 31 Jan 2012 08:32:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Victo http://baltimorerealestateinvestingblog.com/2008/03/tenant-screening/comment-page-1/#comment-2264 Victo Mon, 18 May 2009 18:41:15 +0000 http://baltimorerealestateinvestingblog.com/?p=19#comment-2264 I have a relatively big, new, and gorgeous house in Baltimore, built in 2005. I could not live there at the moment because I reside at another property close to my work. I got a section 8 tenant who got the house brand new and promised to pay the difference of whatever section 8 will not pay (section 8 cannot pay a rent that will cover my mortgage). She defaulted on her part, owe water and electric bill, eventually moved out leaving me with backlog of bills to pay. I got a decent tenant after this who pays rent on time, gave me no apparent trouble. I was enjoying this honeymoon until (s)he called me after six months that (s)he is moving because she cannot afford the rent again. I was thinking of going to court but realize that my time will not permit. Now the house is empty, my mortgage is more more than $2500 and 2 months behind on the mortgage. I cannot afford to pay the mortgage because I'm still paying mortgage on my second house where I reside. I work in VA and going to live in my beautiful house in Baltimore is a commute I don't even want to think of. Now, I have another section 8 tenant who is interested in the house and promise to pay the difference of what section 8 will not cover. Should I take this risk again or what can I do? I know all about screening. Definitely they don't have good credit but I was thinking of taking the risk just to make sure the mortgage is paid. Please advise! I have a relatively big, new, and gorgeous house in Baltimore, built in 2005. I could not live there at the moment because I reside at another property close to my work.

I got a section 8 tenant who got the house brand new and promised to pay the difference of whatever section 8 will not pay (section 8 cannot pay a rent that will cover my mortgage). She defaulted on her part, owe water and electric bill, eventually moved out leaving me with backlog of bills to pay.

I got a decent tenant after this who pays rent on time, gave me no apparent trouble. I was enjoying this honeymoon until (s)he called me after six months that (s)he is moving because she cannot afford the rent again. I was thinking of going to court but realize that my time will not permit.

Now the house is empty, my mortgage is more more than $2500 and 2 months behind on the mortgage. I cannot afford to pay the mortgage because I’m still paying mortgage on my second house where I reside. I work in VA and going to live in my beautiful house in Baltimore is a commute I don’t even want to think of.

Now, I have another section 8 tenant who is interested in the house and promise to pay the difference of what section 8 will not cover. Should I take this risk again or what can I do?

I know all about screening. Definitely they don’t have good credit but I was thinking of taking the risk just to make sure the mortgage is paid.

Please advise!

]]> By: Jonathan Benya http://baltimorerealestateinvestingblog.com/2008/03/tenant-screening/comment-page-1/#comment-8 Jonathan Benya Tue, 25 Mar 2008 20:44:20 +0000 http://baltimorerealestateinvestingblog.com/?p=19#comment-8 Ned, It's amazing how lax some owners can be when it comes to screening. In my area people often see section 8 options as a great way to fill vacancies, but they rarely seem to take into account the risk involved with potential repair costs afterwards. Thanks for posting about this! P.S., I've been a long time lurker on your blog, When I realized that you were the one that commented on mine, I decided it was time I actually said hello! ~Jonathan Benya Ned, It’s amazing how lax some owners can be when it comes to screening. In my area people often see section 8 options as a great way to fill vacancies, but they rarely seem to take into account the risk involved with potential repair costs afterwards. Thanks for posting about this!

P.S., I’ve been a long time lurker on your blog, When I realized that you were the one that commented on mine, I decided it was time I actually said hello!

~Jonathan Benya

]]> By: NewSunSEO http://baltimorerealestateinvestingblog.com/2008/03/tenant-screening/comment-page-1/#comment-5 NewSunSEO Thu, 20 Mar 2008 17:14:18 +0000 http://baltimorerealestateinvestingblog.com/?p=19#comment-5 Hey Ned! The checklist is very good guidelines to follow. This is a very important thing to do before letting them move into your house or apartment. For the time it takes to do this, you could save yourself a really long time in a dispute. Hey Ned! The checklist is very good guidelines to follow. This is a very important thing to do before letting them move into your house or apartment. For the time it takes to do this, you could save yourself a really long time in a dispute.

]]> By: Jack Payne http://baltimorerealestateinvestingblog.com/2008/03/tenant-screening/comment-page-1/#comment-4 Jack Payne Thu, 20 Mar 2008 05:26:58 +0000 http://baltimorerealestateinvestingblog.com/?p=19#comment-4 Tenant screening should be every bit as thorough as screening for a top level job. A bad tenant, with no pride of ownership, can kill you, financially. Tenant screening should be every bit as thorough as screening for a top level job.
A bad tenant, with no pride of ownership, can kill you, financially.

]]> By: Joshua Dorkin @ BiggerPockets http://baltimorerealestateinvestingblog.com/2008/03/tenant-screening/comment-page-1/#comment-3 Joshua Dorkin @ BiggerPockets Wed, 19 Mar 2008 15:10:27 +0000 http://baltimorerealestateinvestingblog.com/?p=19#comment-3 Thanks for sharing our tenant screening post with your readers, Ned! Thanks for sharing our tenant screening post with your readers, Ned!

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