Comments on: Foreclosure Numbers Are Driving Up Rents http://www.american-apartment-owners-association.org/blog/2008/05/12/foreclosure-numbers-are-still-climbing-driving-up-rents/ Real Estate News, Landlord Help, and Apartment Information Tue, 6 Jan 2009 23:01:44 +0000 http://wordpress.org/?v=2.3 By: George Shay http://www.american-apartment-owners-association.org/blog/2008/05/12/foreclosure-numbers-are-still-climbing-driving-up-rents/#comment-4247 George Shay Wed, 14 May 2008 15:16:33 +0000 http://www.american-apartment-owners-association.org/blog/2008/05/12/foreclosure-numbers-are-still-climbing-driving-up-rents/#comment-4247 I too agree that bad credit doesn't necessarily elliminate a tenant's acceptance to rent my home. I also look for evictions and judgments and the debt ratio to make sure they can afford their monthly obligations. I have pondered the ultimate question as to, "why do people rent?" I came up with a myriad of answers, but mostly I feel one of three reasons is why people rent. - Foreclosures - Bad credit - extenuating circumstances i.e.divorce, buying property, not wanting to own, can't afford a mortgage payment... I have some success renting to people that have bad credit with never having to evict a renter as yet.(15 + years) I think I've either been lucky or I've done a decent job of assessing renters' character and their ability to be responsible renters. George Shay I too agree that bad credit doesn’t necessarily elliminate a tenant’s acceptance to rent my home. I also look for evictions and judgments and the debt ratio to make sure they can afford their monthly obligations.
I have pondered the ultimate question as to, “why do people rent?” I came up with a myriad of answers, but mostly I feel one of three reasons is why people rent. - Foreclosures
- Bad credit
- extenuating circumstances i.e.divorce, buying property, not wanting to own, can’t afford a mortgage payment…

I have some success renting to people that have bad credit with never having to evict a renter as yet.(15 + years) I think I’ve either been lucky or I’ve done a decent job of assessing renters’ character and their ability to be responsible renters.

George Shay

]]> By: Martha Roosevelt http://www.american-apartment-owners-association.org/blog/2008/05/12/foreclosure-numbers-are-still-climbing-driving-up-rents/#comment-4226 Martha Roosevelt Tue, 13 May 2008 19:15:43 +0000 http://www.american-apartment-owners-association.org/blog/2008/05/12/foreclosure-numbers-are-still-climbing-driving-up-rents/#comment-4226 I totally agree with Mr. Jonathan Mitchell with Classic Property Management. When screening a potential renter, the number one thing I zoom at is a great famous word of "EVICTION, Bankrupcies" then liens, late/unpaid bills. The reason of Bankrupcie(s). As we all know at this moment, house repo become multiple snacks a day almost. Having to lose your house could be from losing your job of one parents or both parents. No job offered to you for a long lenth of time perhaps. I was there before from the hill down to the valley so I can really feel and undrestand the situation. But we all need to be very careful on how we interview these folks that are coming thru this busy rental traffic. Communication and good interview eye contact sre the key to this business. You lean and give to the one(s) that you truly feel and sense the honesty form individual case. Wish all Landlords the best of luck in this business. I totally agree with Mr. Jonathan Mitchell with Classic Property Management. When screening a potential renter, the number one thing I zoom at is a great famous word of “EVICTION, Bankrupcies” then liens, late/unpaid bills. The reason of Bankrupcie(s).
As we all know at this moment, house repo become multiple snacks a day almost. Having to lose your house could be from losing your job of one parents or both parents. No job offered to you for a long lenth of time perhaps. I was there before from the hill down to the valley so I can really feel and undrestand the situation. But we all need to be very careful on how we interview these folks that are coming thru this busy rental traffic. Communication and good interview eye contact sre the key to this business. You lean and give to the one(s) that you truly feel and sense the honesty form individual case.

Wish all Landlords the best of luck in this business.

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