Re: trouble finding tenants - Landlord Forum thread 355041

Re: trouble finding tenants by Garry (Iowa) on November 11, 2017 @19:52

We're all in the same boat, at least in the northern half of the country. Schools and colleges are back in session, and the holidays are 2 and 6 weeks away. Unless someone is moving because of a new job, or they are being evicted, hardly anyone moves from Nov.1 to March 1.
And we all have to make those same choices you do-----either relax our rents, or our qualification standards, or leave our places vacant the whole winter, waiting for that "perfect" tenant to come along.
The other problem is, many LLs don't want a place to come vacant over the winter, so they lock in a lease with a T, that carries that LL over the winter months. That lease also locks in those prospective Ts, that are probably good prospects, because they don't want to break their lease. So, in an odd sort of way, we LLs sometimes create problems for other LLs. I don't. All my leases are M2M leases, starting from day 1 , even if they move in at the start of the Fall or Winter. If I happen to get in a T that is giving me problems, I want the ability to give them a minimum 30 day notice to move and get rid of them relatively fast, rather than having to wait for several months, till the lease ends.

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Re: trouble finding tenants by Anonymous on November 12, 2017 @16:55	[ Reply ]

Thank you, G. I just recently decided to start M2M. When someone really wants to get out of a lease, I let them anyway. My only problem is the winter months. I've said to myself years ago that no tenant is better than a bad tenant so I'll just wait it out. Those with a credit score over 650 are getting more and more difficult to find especially in my somewhat depressed area but they are worth holding out for. I just had one person tell me, "I have two credit cards with $20,000 limits! Doesn't that alone tell you that they consider my credit to be good!" Meanwhile her score is 525. And another person tell me that "if I had good credit I wouldn't be renting, I'd buy a house."