I've been a landlord for years and have it down to a science. In short, took an old (6200 sqft) home in a great location and converted it to mini apartments and the longest I've had a unit unoccupied was 10 days in the last 3.5 years. This is mainly due to the location, but renters can be categorized easily.
Tenants that want to drop anchor and that is the best it will ever be for them and Tenants in some sort of transition. I make it simple and only run a background check for violence and that's it. If you have the money you're in. My rental agreement is simple and the State where the property is located leans heavily towards the property owner. Meaning, after the 5th, there is a $70 late fee and after the 10th you get a 72 hour pay or get the fuck out notice.
I've had one problem with 28 tenants over the years and that is because the tenant was mentally ill living off an amazing amount of disability payments. Anyway, he was a hoarder and it took a 8ftx30ft trash container to empty an 850 sqft flat of junk. Including 42 computer monitors.
Renters:
Will steal anything not nailed down
Will lie at the drop of a hat
Will cry if something is not fixed in an hour
Will call you at all hours
Will NEVER take responsibly for themselves
If you're a good landlord you heavily screen your applications. Under 30, female, kids, first year in a 12 step program, born again, couples, on disability, ...hit the pavement.
