Landlord Tip - Don't Give In to Desperation

LANDLORD TIP

It happens all the time for many landlords. You face a vacancy at just the worst possible time of the year. Or your circumstances just aren't right to weather a vacancy. Well, in this business, I've come to accept Murphy's Law. You know, the old saying that "Whatever can go wrong will go wrong"?

You are most vulnerable as a landlord when you are in dire need of a tenant. Your mortgage payment, utilities and other operating expenses are relentless and still must be paid, even while your rental property is not paying you. You may have just suffered a loss of rent through an eviction. You may have had a tenant just up and leave.

DON'T LET MURPHY's LAW WIN! Stick to your guns! Don't lower your standards. That's how we get hurt...badly. Every time I felt forced to lower my screening standards and take a chance, I lived to regret it. Believe me, John Nuzzolese is right when he says, "It is better to have NO tenant than a Bad tenant."