I manage property and have been doing it for years. It has always been my belief that the landlords take unknown risks when renting or leasing a property. Part of that has to do with the eviction procedures here in California. You see the courts are inundated with so many cases that evictions do not get priority
WHERES THE RENT?
Many landlords find this out the hard way while people in the business know this and act accordingly. Here in Riverside, Ca, someone in government decided to make one place where you go to file an Unlawful Detainer for the whole county. When you do go there, there is a line a half a block long to file or respond to an action. Be prepared to spend hours
THAT LONG LINE MEANS TROUBLE
Years ago, when I saw that line while at was at the court, I made a mental note in regards to the next time I rent property out. You see if someone doesn't pay the rent, 9 months later is when you may get relief. That does not include if they file bankruptcy either. Add another 2-4 months depending on circumstances. If it is a two or more tenant situation, it can really become complicated and costly.
By the time a landlord gets their property back, they will have not had income for months and the place will need lots of work to re-rent. If this happens to a landlord 2 or 3 times, they can be wiped out. The current economy has increased the risk of renting considerably. Both the unfortunate and the shrewdy renter are out there trying to survive anyway they can.
EVERYBODY IS THE NICEST PERSON YOU EVER MET
I am sorry to say that now more than ever....things and people are not what they appear to be....I meet the nicest people when they apply to rent. If I don't get to the point, they are not eager to tell me the core facts. When I do get to the point, their whole persona changes and out comes horrific stories of bad credit, evictions, bankruptcy, divorce, unemployment and many tell it like they had no fault in it. Huge Red flag when I hear someone tell me how bad other people are....This is one tough market for everyone
What to do and how to proceed we cover in part two