Originally Posted by Mr. Tightwad
The biggest factor in how happy/miserable your life is as a landlord is who you pick as a tenant. Pick wrong and you will suffer.
I'll disclose something else: I've never ran a credit check, asked them to bring a copy of it, verified their income, etc. I ask pertinent questions, observe their responses, and decide amongst the candidates who gets the keys. Again, only one eviction in 28 years. I wouldn't recommend this method to others unless you are confident in your assessment skills. I think it would be a recipe for disaster for most individuals.
In 21 years, I've never ran a credit check either. Most would fail. I check the state magistrate court dockets to see if anyone has a criminal record or has been sued for unpaid bills, rent or evictions. Never had an eviction, but as a supervisor for 35 years for over 5,000 people, you can pretty well recognize an a$$wipe from the start.
Another thing is to not say anything or much after first meeting potential tenants. My units are well maintained, freshly painted, or new carpet installed, they know I mean business. They usually spill their guts after 10 minutes about what kind of issues they have.
I have a checklist to go by that I have used for almost 20 years to prove and show there is no discrimination in anyway.