Your job as a landlord is to find the best tenant you can.
For tenants with bad credit, their job is to find a landlord who is in a hurry to rent their home and who doesn’t follow procedures.
Every landlord gets stuck with at least one tenant that does not pay on time. Tenants that do not pay on time need to be dealt with consistently so that they know you mean business.
Almost every landlord has one tenant whose sole goal in life is to torment you until you give in and do what he or she wants you to do.
Dealing with tenants that can’t pay their rent is part of the job of being a landlord. Be firm, consistent and don’t alter your policies to meet their inability to pay rent on time.
A potential tenant has terrible credit, but you won’t know unless you actually run the credit of every person that applies to rent your home. This person will do everything in his power to get you to rent to him without running his credit!
As a landlord, I cannot emphasis enough how important it is to run the credit of every single person that applies for one of your rentals because it will help you identify the tenant that has terrible credit. Think of it as like playing Russian Roulette if you don’t run credit checks.
Many potential tenants that you talk to will have bad credit but every so often one will be the worst you have seen to date. The key is to find a tenant with credit challenges that you can live with.
