A Lesson For Landlords

Screen All Potential Tenants

One of the most important lessons that many landlords learn the hard way is that there are people out there who are professional renters. That is, they are scam artists who prey on unsuspecting landlords.

A professional renter is one who knows the system and scams the landlord by giving false information on lease and rental applications. They move into the property, and then live there for several months while refusing to pay the agreed upon rent.

Professional renters know how to stop an eviction by using legal means to keep the landlord from evicting them, and on occasion, live rent free for sometimes up to a year or more rent free and then move on to another unsuspecting landlord.

According to the National Association of Realtors, last year Americans bought nearly 2 million homes not to live in, but for investment. Will all the new landlords be ready? Money reporter Stacy Johnson has some tips to make sure they are.

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