Pitfalls of poor Tenant Screening Part 2

Most seasoned Landlords have been subjected to a similar scenario: a prospect shows up to view a property and 2says they have first months rent, full deposit and need to move in right away due to some semi-believable story. It’s tough to pass up the money in hand when the market reflects a surplus of inventory. They seem like a nice couple, are not trying to negotiate, and you are tired of showing the unit, so you take the money straight to the bank and turn over keys. This is usually where the dream ends and the nightmare begins.

This used to happen more often years ago, when we didn’t have the power to search courthouse records 24/7 from our phones. However, you may be surprised to hear that it still happens a lot. People who “work the system”, grifters, scammers, con artists, deadbeats, shysters, whatever you call them, know how to play it to their benefit. They show up in nice clothes, speak kindly and with respect, praise the property, and can tell their story with so much drama it will leave you teary eyed.

Here’s a video of one example showing the condition of a property where the owner did very little to screen the prospect:

Please, please, please resist the urge. If they have to stay in a hotel for a day or two, you would be better served in the long run. Before you even start marketing your property for rent you should have a Charlotte property management set up so you don’t lose time setting them up once a tenant is ready to move. I am not here to sell you on one company over another. There are plenty of very good screening companies out there. I would suggest you find one that offers as many of the following services as possible:

Nationwide criminal search
Nationwide eviction search
Credit report
Social Security Number validation
Lien/Judgment search
Sex offender registry search (Nationwide, in case they did not register at previous address)
Employment verification
Landlord (more importantly previous Landlord) verification
Global Homeland security search

I will dig in deeper on the next installment.

Long-Term Investment in Mumbai

Property experts in India strongly recommend investing in Mumbai. The buyers only need to determine the right time if they want to invest their capital in India. Property in Mumbai is predicted to continue to rise in the near future, if it determines Mumbai as a long-term property investment is very appropriate. From some research shows that this time is the right time to invest in India, especially in Mumbai. Perhaps people expect there is support from the government to reduce the rates of home loan and improve the infrastructure that is still not good.

Developers and governments understand that people in Mumbai are keen to own a home. Professional developers in Mumbai provide them with options such as apartments, condominiums, luxury housing, middle-class housing, rural housing, etc. The infrastructure development in Mumbai continues today as most buyers and investors will purchase the latest property and sell the old property. In addition, the launch of new projects in Mumbai continues throughout the region such as New Projects Goregaon West. Mumbai will always be the top choice of investors because this place is the center of coastal tourism and the economy. You need to know that Mumbai is the center of the Indian economy; you can get a stable profit here. The rules and laws of property sale in Mumbai make it easy for investors and potential buyers.

There are many areas of Mumbai worthy of low-cost investment in addition to Goregaon West, such as Mira Road, West Borivali, Andheri East and Andheri West, East Kandivali, Powai, Malad and Chembur, and many others. Apart from Mumbai you can specify investment in some famous cities in India such as Bangalore, Chennai, Kolkata, Pune, Delhi, Hyderbad, etc. The demand for property to be rented and purchased in Mumbai as a whole is increasing. So, wherever you invest will definitely bring long-term returns with a quick payback.

Make sure you visit a trusted property portal before considering anything to buy a house in Mumbai.

Properties in Suburban Area

Since urbanization has taken place on a large scale in the suburbs, Mumbai is expected to see very high demand in the suburbs such as Goregaon West and East. Medium and affordable housing on the outskirts of the city and suburbs will be the focus of this demand. The outskirts of Mumbai get a lot of infrastructure development, new projects are being built like Goregaon West Residential Projects.

While the western and eastern parts continue to be the preferred location; in Mumbai, demand continues and there are new projects to find the Mumbai region such as Goregaon West Residential Projects. Most real estate projects come at affordable prices compared to other cities in India. Many choices are still available in Mumbai, where you can have your own place of residence.

Kurla- One of Mumbai’s main suburbs, the suburban railway station is located on the Central and Harbor line. The area has a Technical High School, and various educational institutions. This city is suitable as the city of education. You can find the Kurla Underground Station, which is an express train terminal for outgoing / incoming passengers on Kurla.

Borivali – This area also has subway like any other city in Mumbai. Borivali is located in North Mumbai; it is one of the few places in the world that has a national park within the city limits – Sanjay Gandhi National Park. There are a number of renowned educational institutions run by the Franciscan Brothers. The most famous amusement park, “Essel World” and Asia’s largest water park “Water Kingdom” are here. In essence, investors and property buyers can enjoy entertainment as much as possible.

Vikhroli – This suburb of Mumbai has a train station with the same name in the middle lane. Similar to many other areas of Mumbai, it is divided by the railway between two parts: Vikhroli of East and West Vikhroli.

Goregaon – This area is part of the busiest suburb in Mumbai for property business. New properties were launched such as Goregaon West Residential Projects. The city is easily accessible by train, bus, taxi and rickshaw. West Express Road and connecting road are located on both sides of the area. Many local and foreign investors invest in this city.