Great way of putting it. High flyers raking in $$$ can be scums too. Know someone who had a tenant. Tenant lost job while spouse still had job, but they figured rent in that area would be tight with 1 income so they asked to terminate rent early, which my friend appreciated the situation and honesty, and had no problem with it.
Redsanta wrote: ↑ Due to the current climate and pro-tenant laws, I am indecisive to lease out my unit even though the prospective tenant is ready to sign. So my question is, what is your ideal tenant in this climate? Unfortunately, the ideal tenant in the normal climate may not be in the market currently, but they may be back next year.
Thanks!
Judging by what some landlords are doing. No. They’re looking for a warm body who can pay the rent.RichmondCA wrote: ↑ Is the OP a rhetoric question? I don't get it.
Are we ever looking for anything but great tenants? wtf
Hard to feel sorry for those landlords that lower their quality standards. Going forward after seeing the govts hop on the “don’t pay your rent” bandwagon I’m more committed than ever to requiring some sort of govt or essential job tenants. Jobs that were able to WFH without much risk to getting laid off.JayLove06 wrote: ↑ Meh, you can’t base it on good jobs. Mits a factor but ******* have good jobs too. Case in point I’m helping someone with a tenant who works for the government but is acting like a douchebag mainly because rents have gone down and they demanded the cheapest rent in the building. Not ask but demand. So unreasonable people have good jobs and make good money.
I rented my place out to a lawyer and accountant and thry completely trashed it. I’ll never forget that one. Handed me back the fob held together with scotch tape.
So you really have to do a lot of vetting and you have to talk to past landlords. I spoke to a landlord who spoke somhighky if the tenant, told me about her family and everything, tenant worked out quite well.
The problem is some tenants don’t have past rental history. Like I’ve rented to downsizers. Harder to vet them but you just have to ask more questions. There is no foolproof way.
But low quality renters are flooding the market right now. It was easier to handle them when the laws were more balanced. Not now. If the tenant is not perfect paying good rent then I’d keep the place empty. I think rents will go up and while it may take some time, I’d rather wait for an A+ tenant paying slightly lower rent than some Me looking to take advantage of cheap rents. There’s a difference.
Only thing is I feel sorry for the landlords who are small business owners as well. They got screwed both ways.cartfan123 wrote: ↑ Hard to feel sorry for those landlords that lower their quality standards. Going forward after seeing the govts hop on the “don’t pay your rent” bandwagon I’m more committed than ever to requiring some sort of govt or essential job tenants. Jobs that were able to WFH without much risk to getting laid off.
One thing is an absolute fact is once the govt sees a whipping boy for policy (more votes gained with anger confined to a smaller group in this case landlords) they 100% will do more the next time. Same thing for rewarding Amazon, Costco while bulldozing small business. There’s no concept of fairness. As we go down the road of MMT the next black swan event is not IF but when. I will plan accordingly....and diversify across asset class and countries. Government will increasingly turn to remaining pockets of wealth to fund their ever growing need for funding to roll over the debt.
Rent controls create slums.ozzie16 wrote: ↑ The thought that crossed my mind here is that landlords have to be especially choosy when picking a tenant given the huge risks involved now which include potentially not being paid for a year. But there are only so many people who are government workers and make 100K+ a year in the rental market.
So what do the other people do? How do they find a place? It seems to me the lopsided rules forcing landlords to shoulder the burden of a bad tenant actually ends up deepening the housing crisis for people who don't check every single "ideal" criteria?
Bingo.aeromortgage wrote: ↑ Rent controls create slums.
Right on the money. Rent control does not work.ozzie16 wrote: ↑ The thought that crossed my mind here is that landlords have to be especially choosy when picking a tenant given the huge risks involved now which include potentially not being paid for a year. But there are only so many people who are government workers and make 100K+ a year in the rental market.
So what do the other people do? How do they find a place? It seems to me the lopsided rules forcing landlords to shoulder the burden of a bad tenant actually ends up deepening the housing crisis for people who don't check every single "ideal" criteria?
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