From Foreclosed to Renter- You May be Memorable

By
Real Estate Broker/Owner with Bear River Valley Realty 5485753-PB00 UT

How many Realtors have gone into homes that are now bank-owned with disgust and amazement at the condition of the property? The former borrowers do get grumpy and start pulling fixtures out and bashing in the walls, right?  Some of the houses are just plain disgusting after the former owner moves out. You know the ones....let the animals soil the carpet or the house looked like it had not been cleaned in years. 

Living room of an REO

Someday, somewhere these former owners will need to be renters. Will anyone care what condition you left your home?  One of the key factors in determining who to rent one of the properties I manage is how the tenants will treat the home. Since public records are..well, public one of the tools to investigate the applicant is the public record to see if the applicant has ever owned a home in the area. You had better believe that I will remember the condition the home was in when the owner left it.  Afterall, if the tenant did not care about his/her own home it is not really likely that they will care about someone else's as a renter. 

Comments (3)

Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

EXCELLENT and TIMELY post.  I am now GOOGLING prospects as well as checking for mortgage deliquencies on credit reports.  If they don't have an immediate past landlord reference, that makes me dig a little deeper!

Sep 01, 2010 03:21 AM
Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Kathy - It's a struggle with some folks in vacating bank owned properties - but your suggestion that references that might impact their ability to rent where and what they want might get them to think before they act rashly.  Thanks for posting.

Sep 01, 2010 03:30 AM
Kathy Fuhriman
Bear River Valley Realty - Tremonton, UT

I also google applicants and check their Facebook pages as part of investigating. When checking credit reports for mortgage delinquencies we could find out where the house was even if in a different area. Good idea Wallace.

Sep 01, 2010 04:32 AM