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Old 10-13-2020, 03:24 PM
 
5,906 posts, read 5,452,845 times
Reputation: 18053

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I listed a crappy, family-sized unit at market rate (which has gone up, BTW), in a rough old New England mill town with a lot of tenement housing, not as bad as the inner city, but nearly. I have received literally HUNDREDS of responses. Many of them are people that, before the eviction moratorium, I would have taken a risk on. After all, no one renting at this price point has good credit, or more than 2.5 times the rent as income. Usually, if they don't have a history of prior evictions, or suing the landlord, or a whole lot of creditors coming after them, or a seriously violent criminal record, I'd take a chance on them. NOT NOW!

I now insist on the maximum security deposit my state allows, an absolutely perfect rental track record, earnings of at least three times the rent from an essential worker job, and heavily, heavily prefer those who come with a voucher program like Sec 8, that will adjust upwards to cover their entire rent if they lose their job, and that will kick them off the program if they do not pay the share that Sec 8 deems them able to pay. If I have the slightest doubt of their ability or motivation to pay rent, I just won't take a chance.

I get the feeling that other landlords are doing the same thing. They'd rather let the unit sit empty, than take a chance, because of the eviction moratorium. So yes, for the people who don't pay their rent, but had the good fortune to be able to ride the eviction moratorium (and I escaped having one of those by ONE WEEK), they're living for free. But for the people who want to get into a rental, it's become nearly impossible.
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Old 10-13-2020, 05:25 PM
 
Location: North Idaho
27,627 posts, read 37,353,536 times
Reputation: 59928
Yes, landlords are tightening up their rental criteria since they can't get bad tenants out.


It is also a problem for decent people who have to move and can't rent because there are no vacancies available. All available rentals being already filled with tenants. The bad tenants who would normally be removed are sitting tight preventing good tenants from finding a new place to live.
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Old 10-13-2020, 07:40 PM
 
236 posts, read 153,911 times
Reputation: 504
The gentleman I work for has always been pretty lax when it comes to picking tenants. He loves everyone and he's dodged a few bullets so far. Given the currently situation, I think I've finally convinced him to toughen his screening process and increase the deposit amount. He says he will but we'll see.....
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Old 10-15-2020, 04:49 PM
 
776 posts, read 229,013 times
Reputation: 1076
Yes I am seeing that also.
A lot of Libs are proposing to allow people to stay thru December 2021 without paying.

LL I talk to would rather the place be empty if they cant find a new tenant that meets their new higher standards.
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Old 10-17-2020, 08:35 AM
 
Location: Texas
3,578 posts, read 1,647,584 times
Reputation: 4072
I would rather leave my rentals empty then to put in a tenant who doesn’t have great credit , positive rental history, makes 3 times the rent. I have nice rentals well taken care of and it costs money to keep them that way.
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Old 10-17-2020, 04:14 PM
 
Location: DMV Area/NYC/Honolulu
23,504 posts, read 11,433,212 times
Reputation: 23768
Thankfully, my rental is in a higher end unit (renting for $2,300 a month), so the quality of applicant I get is usually pretty good and I have set fair but stringent criteria for my property manager to consider. I've had the same tenants since September of 2019; from what I gather, they are federal employees and have steady jobs. I feel for others going through rough times right now, deciding whether to leave a unit vacant or take a chance on a given the eviction restrictions. But I fault no LL for deciding strengthening rental criteria and being extra careful about who they rent to these days. Yes, people are struggling, but LLs have to pay their bills, too.
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Old 10-17-2020, 06:45 PM
 
5,906 posts, read 5,452,845 times
Reputation: 18053
Looks as if I'm not the only one. No wonder I'm getting hundreds of responses for that unit. I'd love it if local news stations would do stories about all the people who cannot get into a unit, because the landlords are afraid to take a chance on anyone less than perfect.
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Old 10-17-2020, 07:55 PM
 
1,258 posts, read 1,244,810 times
Reputation: 807
Quote:
Originally Posted by parentologist View Post
I listed a crappy, family-sized unit at market rate (which has gone up, BTW), in a rough old New England mill town with a lot of tenement housing, not as bad as the inner city, but nearly. I have received literally HUNDREDS of responses. Many of them are people that, before the eviction moratorium, I would have taken a risk on. After all, no one renting at this price point has good credit, or more than 2.5 times the rent as income. Usually, if they don't have a history of prior evictions, or suing the landlord, or a whole lot of creditors coming after them, or a seriously violent criminal record, I'd take a chance on them. NOT NOW!

I now insist on the maximum security deposit my state allows, an absolutely perfect rental track record, earnings of at least three times the rent from an essential worker job, and heavily, heavily prefer those who come with a voucher program like Sec 8, that will adjust upwards to cover their entire rent if they lose their job, and that will kick them off the program if they do not pay the share that Sec 8 deems them able to pay. If I have the slightest doubt of their ability or motivation to pay rent, I just won't take a chance.

I get the feeling that other landlords are doing the same thing. They'd rather let the unit sit empty, than take a chance, because of the eviction moratorium. So yes, for the people who don't pay their rent, but had the good fortune to be able to ride the eviction moratorium (and I escaped having one of those by ONE WEEK), they're living for free. But for the people who want to get into a rental, it's become nearly impossible.


This is the only reason I filled a unit in April of this year with this healthcare worker that really couldn't afford it. This person had a voucher program that covered 2 months security and 1st months rent and has been paying the rent like clockwork. Lucky, bastiid. Otherwise, this person would had to kick rocks!
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Old 10-18-2020, 06:46 AM
 
10,254 posts, read 22,962,196 times
Reputation: 14830
Quote:
Originally Posted by quiet life View Post
This is the only reason I filled a unit in April of this year with this healthcare worker that really couldn't afford it. This person had a voucher program that covered 2 months security and 1st months rent and has been paying the rent like clockwork. Lucky, bastiid. Otherwise, this person would had to kick rocks!
But they can pay the rent? That’s the important part...
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Old 10-18-2020, 08:07 AM
 
1,258 posts, read 1,244,810 times
Reputation: 807
Quote:
Originally Posted by Kim in FL View Post
But they can pay the rent? That’s the important part...

Granted. Just reinforcing the OP's point of belt tightening of LL's especially during this time. The tenant was short with their salary but all the other criteria boxes helped the tenant make it. The voucher was key with this tenant. Otherwise....
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