This week’s question comes from Andrew on the Real Estate Rookie Facebook Group. Andrew is asking: How would you handle a prospective tenant that has a bankruptcy on their record?
Tenant screening is almost as important as rental property screening. A bad tenant can not only cost you potential rent but cause thousands or tens of thousands in damages if not handled correctly. This is why landlords are so strict when evaluating tenants, as a good tenant can mean next-to-nothing maintenance and a bad tenant can mean habitual headaches. It’s up to you whether or not a potential tenant meets your criteria. When evaluating, remember to stay within your legal limits!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Ashley:
This is Real Estate Rookie, episode 184. My name is Ashley Kehr, and I am here with my co-host Tony Robinson.
Tony:
And welcome to the Real Estate Rookie Podcast, where every week, twice a week, we give you the stories, the information, the inspiration you need to kickstart your real estate investing journey. So my wonderful co-host Ashley Kehr, what’s new? What’s going on?
Ashley:
Not much. We’re supposed to have great weather here in Buffalo this weekend, so that’s exciting. And then I think it’ll probably go back to another snowfall or something. But I had put an offer in on a campground last week and didn’t hear anything back from the people, they followed up, or I followed up with them, had my business partner follow up with them and then it ended up, they didn’t even see our offer. So they actually looked at it called us back a couple hours later, no, we’re not going to do it. So we went back, reran numbers and what, we submitted our second offer was, there was a lot of land with this property and we don’t need all of the land. So we actually submitted our next offer with less of the land where they can…