Where Is My Rent Money?!

So I get a call from a past client who decided to rent his home to what he thought was going to be a nice family. They showed up to the interview for the property in an older minivan that had all the family decals on the back window including the dog decal.

What a mess he ended up in. When he specifically said no pets and no smoking, the Renters said “are you kidding me, we don’t smoke and our little dog just died a few months ago.” He immediately felt sorry for them and without consulting me or anyone else for that matter, he ended up renting his property to them. The rent was OK for the first 2 months and then no rent… there was also that little dog who died just a few months ago, she was reincarnated to a massive pit bull! And then she had baby pit bulls! It was very difficult to get any were near the home, the neighbors were pissed. Oh yea they also got busted for a huge party they were having and as far as smoking was concerned, they found more than just e-cigarettes…

Why I mention this scenario is because should you want to invest or rent out your property (it has become easier now than ever), you need to make sure you have all your ducks in a row. Consult with me or someone who really knows how to do the proper qualifying and leasing arrangements, and just to let you know, obviously all tenants are not like the ones I mentioned here. I’m just saying, you gotta be careful! Check out the link below with regards to qualifying tenants for an investment property…

http://www.canadianrealestatemagazine.ca/market-update/renting-out-property-to-get-easier-as-cmhc-changes-rules-193663.aspx#.VlcW-XE9C5U

Check out this basement apartment, it might be able to pay off your mortgage and many more with the rent money you get from this place! Just make sure you get the first and last month of 2045 rent, and don’t forget the security deposit…!

http://www.architecturaldigest.com/story/massive-underground-bunker-in-georgia-goes-on-sale-for-175-million

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