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10 Tips to Avoid Common Landlord Errors
Some very common mistakes are made by landlords everywhere. This is the top 10 common mistakes that you should avoid. These simple tips will also help you to be a better landlord. No matter how bad the rental market becomes, always remember, NO tenant is better than a BAD tenant"! Failure to check the tenant's ID! You know something is wrong when the rent for the second month is a challenge to collect. There was a perfect example of this: The tenant paid the 1st month's rent and the 2nd was hard to collect. After a few months the landlord learned the tenant's real name from a neighbor!Thankfully, he was arrested by the FBI for fraud. Skipping the credit report! Example: They seemed like they had it all together. Well dressed, nice car, the application checked out... I trusted a fellow landlord and Realtor who "vouched" for the tenant! - Now whenever a fellow landlord or Realtor "vouches" for a tenant, I ask them if they will be comfortable co-signing. Trusting a fellow Realtor? I should have known better. No offense to the many hard working honest fellow Realtors out there! Allowing a tenant to do home improvements. Just because someone ... more

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