I have seven rental houses. Three where my Misses and the other ones I got thru the years. I had a lot of problems when I had poor homes to rent. I fixed them up and raised the rent. That alone got rid of most of the problems.
I was in a real estate law class one time. The fellow teaching it was very darkly sun tanned. Looked pretty permanent too. LOL He is/was one of our local prosecutors. He said you can discriminate against people buttttttt only if the color is green. His point don"t deal with people that don"t have any money.
I require two months rent plus a security deposit. The cheapest house I rent is at $750 per month. The move in cost on that house would be $2250. I also run a credit check. No one with bad credit gets in. I have some times had houses set empty while finding the right renter. You can find them you just have to look.
I also am a real hard butt on the rent being due on time. One late payment and you are out. I have a formal written lease that is filled out each time by my lawyer. I would rather pay him up front than later to remove some dead beat. The fill in the blank leases can be beat in court. I have evicted my own nephew. He was two weeks late on the rent because he bought a new pickup and blew his money on the down payment.
I have good houses. I keep them maintained. I fix things as soon as I know about them. Most of my renters are over sixty years old. Several of them just don"t want the worry of keeping a house up. This way they can just call me.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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