One of the big reasons people don’t invest in property is because they watch too many sensationalized news stories. They fear the moment they buy an investment property, they’ll get tenants who will move in with 20 dogs, 15 cats, and their pet chickens, and end up trashing the place and leaving without paying any rent! Let’s talk about how you avoid that scenario! I want to cover the two qualities that ‘tenants from hell’ have and how to stay away from them, which part of the market to buy from in order to avoid tenants from hell, what makes a good property manager (as property managers are a very important part of the process), and landlord insurance. There are two common qualities of a tenant from hell;
- Lack of respect for Authority
- Lack of respect for people’s possessions (namely your investment property).