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I know this thread is a little old, but I had the same experience in August myself. Had excellent tenants in my house. They moved and recommended their sister. She checked out great. I did not collect rent to hold the house nor make her sign a lease beforehand. Bailed on me the day before she was supposed to move in. Lesson learned.
I do have e-mail communications stating she was approved to rent it and from her indicating she would take possession and on what date. I'm going to look into that and see if I have something.
I know this thread is a little old, but I had the same experience in August myself. Had excellent tenants in my house. They moved and recommended their sister. She checked out great. I did not collect rent to hold the house nor make her sign a lease beforehand. Bailed on me the day before she was supposed to move in. Lesson learned.
I do have e-mail communications stating she was approved to rent it and from her indicating she would take possession and on what date. I'm going to look into that and see if I have something.
Since you didn't take any money, I'll venture to say you're S.O.L. Definitely a lesson learned, but don't spend any more time on this one. Move on to the next, quickly.
Yeah--lesson learned. I dont give a crap how well they check out, how nice they seem--etc. etc, my new motto is money talks (and holds your house) and "you know what" walks! By the way, I am traveling to house later today to sign the lease with a couple who paid a NON REFUNDABLE deposit to hold the house! Landlords, dont do it any OTHER way!
Lesson learned, never ever agree on partial sec. deposits or partial rental payments.
Charge a high late fee + interest, and put it clearly in the rental agreement, that can and will scare some people off but you know what they would do.
If you Town home is in a good condition and a great location you will be able to rent it faster. I even rented mine this year for 2 years and charged higher rent than some others who are in financial trouble. I stated in my listing that no mortgage is on the property so no chances for foreclosure in the future and that seem to be very welcome by potential tenants.
Never fall for sob stories and was she really pregnant?
Lesson learned, never ever agree on partial sec. deposits or partial rental payments.
Charge a high late fee + interest, and put it clearly in the rental agreement, that can and will scare some people off but you know what they would do.
If you Town home is in a good condition and a great location you will be able to rent it faster. I even rented mine this year for 2 years and charged higher rent than some others who are in financial trouble. I stated in my listing that no mortgage is on the property so no chances for foreclosure in the future and that seem to be very welcome by potential tenants.
Never fall for sob stories and was she really pregnant?
That is all excellent advice. I also own a unit with no mortgage and was wondering if it would help if that was stated. With your advice, I will now start including that information in the ads/contracts.
As for the late fees, in California they are limited to reasonable amounts only. Unfortunately, they do not define what that is, it would be up to a particular judge. Even the old trick of artificially inflating the rental price but offering a substantial discount if paid by the beginning of the month probably does not hold up.
Never fall for sob stories and was she really pregnant?
Yes, very much so, unless it was a huge pillow under her shirt!
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