Rental Income Podcast With Dan Lane: Landlord l Rental Property Owner l l Real Estate Investor l Passive Income l Find Good Tenants

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Syndication

How to pick the right tenants, to minimize evictions.  Skip and Mary Saylor talk about the lessons they have learned from 40 years of owning rental properties.  They have rented a lot of properties, to a lot of different people over the years, but they have had very few evictions.  On this episode they reveal, in detail, exactly how they screen tenants

Screening Process:
1.) Fill out application
2.) Pay application fee
3.) Show photo ID
4.) Credit Check
5.) Check civil court records to see if they have been sued by a prior landlord for not paying rent or property damage
6.) Verify employment (min income 3x rent)
7.) Verify current and past landlords

 

Rental Criteria (they show this to tenants before taking application fee)
1.) No unpaid landords
2.) No utilities in collection (electric, water)
3.) No crimes against persons or drug convictions in the last 5 years
4.) Other negative credit information can be overlooked

Favorite Real Estate Book:

Landlording by Lee Robinson

Direct download: skip_and_mary_saylor_edits_revised.mp3
Category:Business -- posted at: 3:00am EDT

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