Quote:
Originally posted by pussyluver
The obvious - you have never had a tenant.
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I on the other hand, have. And do. I won't wholely disagree with you, those things you mentioned can happen, no question. But there are ways of preventing it or minimizing the likelyhood of it happening.
For starters, buy rental property in locations that would be conducive to better living, in half-decent neighbourhoods close to a hospital and within range of schools, and a supermarket.
Advertise widely for a tenant. Meet each applicant and give them the usual tour, then select the best ones and sCREEN them. The mistake most people make is they accept the first schmuck that comes along waiving cash. Duh. Of course they will trash the place.
Check with their last landlord as to their behaviour. Check their references.
Get post-dated cheques for 12 months in advance.
Instruct the applicant before-hand on the rules you have. Print out those rules and get them to sign an agreement. Hey, it's something.
I've been a landlord for 8 years now and have never had to kick anyone out or had the kind of problem you described above. Using a million bucks to buy some rental property isn't all that bad an idea in my view.