Re: worst year ever for qualified tenants? What's Up??

Re: worst year ever for qualified tenants? What's Up?? by lpadave on April 9, 2019 @00:54

Unfortunately,....that is very much the way it is now.
In both the high end luxury and the low end. In many ways the high end is worse because the formula is higher and the income and asset requirements are up there.
We live in a world which has gotten very expensive and people want to live big fancy expensive lifestyles in big fancy expensive cities.
How they actually plan to pay for it doesn't seem to cross their minds.

My applications are extremely detailed and increasingly they go out and the prospective tenants Casper (as in the cartoon ghost).

I've had applicants that omitted their out of state felony sex offender prison terms, manslaughter convictions, bk's and lack of any banking history because """"they do not like or trust banks""",........which instantly became evident that they were liened, levied and garnishment'd up.

More and more people are willing to ""throw it up against the wall and see what sticks""". In hopes that we as LLs will just pocket the application money and glance at the pile of papers they give us and say ok.

I've had increasing applications from blended households of multiple unrelated adults with kids and pets, with all of the adults combined barely making the income formula.

This is what the residential rental industry has increasingly and unfortunately become. There are many of us who will just put warm bodies in their properties if they can pay first and the security and then hope for the best. Generally,....the best never shows up.

These sites are full of the war stories.
Do they really think we are not going to check them out ?.?
Many LLs indeed do not, and they become the tenant's prey.

Thou protesteth too much........

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Re: worst year ever for qualified tenants? What's Up?? by June on April 9, 2019 @13:44	[ Reply ]

Thanks LPA DAVE! Thanks Dave for your honest forthright description of the current status of the rental market. I too have had multiples begging to get in there. If one goes, they all must be evicted because the others cannot carry the $ load. Another item: they all know how to sue the landlords! The courts are full of them and their "lawyers"; i.e. the lawyers who troll for T's on line..."R U a Renter? We can help U get what U deserve. We will sue your LL....." Many little Mom/Pop LL's R selling and fleeing for their lives from this biz which is a shame because the amount of rental properties diminishes, so where are those people going to live? LL's provide a great service to those who don't yet have a down pmt. or cannot yet qualify for a mortgage. Some T's are like the typical parasite that bleeds the host white, fails to realize that when host dies the parasite will also die! They are shooting themselves in their own feet and crying from pain, demanding the gov't provide them housing! Result: hard working taxpayers are forced to subsidize them via more taxes heaped upon them. What a system!

Re: worst year ever for qualified tenants? What's Up?? by June on April 9, 2019 @13:51	[ Reply ]

Dave! Yes, let the truth be told! LL's are PREY to such types! One thing about the Truth: It's like a 2 edged sword. Truth cannot be overturned. Telling the truth is not protesting, it is just simply stating facts! Remember what Abe Lincoln said? "You can fool some of the people some of the time and some of the people all of the time, but you cannot fool all of the people all of the time!" Thank you Dave for being honest and forthright. There is no sense to putting "lipstick on a pig".

Re: worst year ever for qualified tenants? What's Up?? - Landlord Forum thread 359191