CHAPTER 3 Good Tenants = Rental Bliss
You’ve likely heard of “horror stories” of homeowners dealing with bad tenants, whether from friends, family, your Realtor®, or even in the news. This is one of the biggest reasons people shy away from renting out their property—the risk and fear of ending up with bad tenants (e.g., tenants who don’t pay their rent on time, in full, or at all; tenants who engage in risky behavior; or tenants who cause property damage). However, this doesn’t have to be your situation. In fact, if you ensure you have a good tenant—someone who pays their rent, takes care of your property, and respects your policies and rules—then you shouldn’t have many issues. Good tenants make all the difference in whether renting out your property ends up being a pleasant and fruitful decision. Good tenants = rental bliss! Allow me to give you an example of why this matters and why I believe it’s true. Consider the criminal justice system. Even though you hear or read in the news of all these people committing all kinds of crimes, the reality is that most of the population doesn’t end up in jail. Most people are good citizens and follow the laws that govern them—sure, plenty of people get speeding tickets, but most people don’t go around robbing banks, assaulting their neighbors, engaging in illegal activities, etc. When you bought your current home, for example, you probably didn’t think about whether your neighbor was a murderer. Of course, you need to exercise caution and take precautionary measures when the situation calls for it. However low the risk 14
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