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Seemingly decent tenants are caught makingand selling crack cocaine from a rented apartment, while landlords are calledin on cases of theft after tenants have bypassed the electricity system andbeen stealing power for months ? to cultivate illegal marijuana farms in theback room. Choosing to become a landlord for a living is a decision which mustnot be taken lightly.
Luckily there is for when tenants go bad, and when, despite your best efforts, aterrible tenant has slipped through the rental application process and wreakedhavoc on the property.
Imagine the state of the landlord whoinspected a recently vacated property only to discover that the tenants had leftgarbage and clothes strewn through the house, smashed holes in the walls,destroyed the new carpets and had alarge and aggressively hungry potbellied pig in the backyard!
Another landlord tells how he was veryproud of the new kitchen cabinets he has installed in the rental property.Unfortunately, the tenants liked them too - so much so that they took thecabinets with them when they left!
In another case, a professional con manrented a property under a false name and used the address for a succession ofcredit card frauds and benefit cheats.
Make sure you have a trustworthy lettingagent if you are not personally screening your tenants. Check every pastreference from every tenant and do not take their word for anything. Make surethey pay a deposit and have decent jobs. Take out a good policy to cover your losses should the worst happen and youshould be able to survive a disastrous tenant experience.