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I’m a landlord and I don’t think that’s the average landlords rationale. Yes you become more picky regarding tenants because you don’t want to deal with an evic

I’m a landlord and I don’t think that’s the average landlords rationale. Yes you become more picky regarding tenants because you don’t want to deal with an eviction. That was always the case though. You’re just going to need to carefully understand how the tenant behaved during Covid. Eg. Did the get evicted from being 18 months in arrears that they will never repay? Did they lose stable income for a period of time but now it’s back? Did the sell a billion dollar tiny house in $HUB and move to your town flush with cash and a remote work lifestyle? All very different and likely already biased groups demographically speaking. But now, you may have some losses to recoup and this whole thing is akin to theft/shrinkage of goods. It has to get factored into the price. Also, the biggest thing pushing rental prices IMO, housing prices. Since buying is the alternative to renting, they are strongly correlated.

refurb 5y ago
I think the main point is that Covid is not over, and another eviction moratorium is not out of the question. So yes, you can be more picky to avoid an eviction, but what if an eviction is not an option next year? What do you do then? From what I've heard some landlords are moving the bar from the top 30% of tenants to the top 10% and would prefer to keep a unit empty just to get them.
- conductr 5y ago
  > whole thing is akin to theft/shrinkage of goods. It has to get factored into the price I’d agree and in my mind it’s the risk factor I alluded to with this above quote. In my experience, increasing prices substantially automatically moves the bar for you since only people willing to pay the new price are actually highly qualified tenants. FWIW, I had a $2700/month house that’s now at $4000/month. I did Essentially what you mentioned. In past, I’d list it and have it rented in a week or two. But had to sort through a bunch of under qualified applications. The new price only got a few applicants but they were all highly qualified. The tenant I accepted pre-paid for 12 months lease. The tight housing market and cash rich buys are the driving force though. My tenants probably would have bought a house but couldn’t find one and got pushed to renting until they do. This didn’t exist before, at least not to current levels, and without it I don’t think I’d be able to charge a premium. I don’t know what I’d do if I was a landlord of low rent units. You cannot “go up market” like I did. I would certainly have to find a way to be more picky. Definitely not renting to someone who has a past due debt to their previous landlord. Being more diligent about checking landlord references, etc.

refurb 5y ago

I think the main point is that Covid is not over, and another eviction moratorium is not out of the question. So yes, you can be more picky to avoid an eviction, but what if an eviction is not an option next year? What do you do then? From what I've heard some landlords are moving the bar from the top 30% of tenants to the top 10% and would prefer to keep a unit empty just to get them.

conductr 5y ago
> whole thing is akin to theft/shrinkage of goods. It has to get factored into the price I’d agree and in my mind it’s the risk factor I alluded to with this above quote. In my experience, increasing prices substantially automatically moves the bar for you since only people willing to pay the new price are actually highly qualified tenants. FWIW, I had a $2700/month house that’s now at $4000/month. I did Essentially what you mentioned. In past, I’d list it and have it rented in a week or two. But had to sort through a bunch of under qualified applications. The new price only got a few applicants but they were all highly qualified. The tenant I accepted pre-paid for 12 months lease. The tight housing market and cash rich buys are the driving force though. My tenants probably would have bought a house but couldn’t find one and got pushed to renting until they do. This didn’t exist before, at least not to current levels, and without it I don’t think I’d be able to charge a premium. I don’t know what I’d do if I was a landlord of low rent units. You cannot “go up market” like I did. I would certainly have to find a way to be more picky. Definitely not renting to someone who has a past due debt to their previous landlord. Being more diligent about checking landlord references, etc.