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ChecklistQuick Tip #1: 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 [email protected]

Miss last week’s tip? See Landlord Quick Tips.

See our feature, Is Your Rental Application Falling Short?

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