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Welcome to the AAOA Forum, where we discuss the the topics our members want to hear and want to talk about. We like to take an active roll in the online community to help our members learn and help educate landlords new and old. We encourage you to participate and join in our discussions. Thanks.
Landlord Quick Tip
Quick Tip #2: Friends Don’t Let Friends Rent Their Units
Accepting referrals from friends or family can spell disaster for a landlord.
Why? Because, often the landlord is not as diligent when they screen the referral.
“A rental prospect who is a friend of a friend?! PERFECT! until the friend/tenant loses their job and your friend is not returning your phone calls and neither is your tenant.”
“Renting to friends, family and friends of family rarely works successfully. Finding good residents should be done the old fashioned way – one or two applications at a time!”
This week’s tip is from property manager Wallace Gibson, CPM.
Do you have a tip to share? Email it to our editor at kim@joinaaoa.org
Miss last week’s tip? See Landlord Quick Tips.
See our feature, Is Your Rental Application Falling Short?
American Apartment Owners Association offers discounts for landlords on products and services related to your rental investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.To subscribe to our blog, click here.
Filed under: AAOA Forum
Very good reminder – I really always get something from your e-mails
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