Are you a Grass Valley or Nevada City rental property owner? Read on for landlord tips….
Here is a great read for Nevada County investment property owners from the American Apartment Owners Association, “6 Reasons Nice Guys Make Broke Landlords“.
I often tell my Grass Valley and Nevada City investment property owners that one of the biggest reasons people hire a property manager is to take the “emotional” aspect out of the screening process. This article agrees with that concept and suggests the following: “Landlords who believe they can go with their gut in choosing a renter will often end up paying dearly for that mistake. Failing to perform a tenant background check, review the credit report, and speak to the current landlord can result in renting to someone who is unsafe or won’t pay their rent. Avoid becoming a broke landlord by ordering a thorough criminal history records search, credit report, and reference check. Review every tenant background check to ensure a successful property management process.”
The article goes on to detail the other 5 reasons why Landlords often find themselves in trouble when they do not hire a property manager. Another one that I agree with: “They rent to friends, family.” Although a family member or friend may seem like the perfect tenant at the time, if you neglect to property screen them, a poor outcome often arises and friendships are ended.