Typically should this be a red flag for any type of scams or tenant scheme?
I am asking $775 / mo for a nice property, $750/ mo if they tend the yard. Tenant asked for a discount if he pays in full. I offered him a 6% discount so rents would only be $705/mo. Is there anything I should be looking out for?
A friend of mine in my real estate club did just that the people became insane to deal with when trying to evict them the judge would not put them out since they were not behind on rent. He had 4 other tenants in the building move out because of them Even after they were busted for drugs the judge let them stay He got them out 10 months into the lease after a fire from a meth lab. Sorry not saying anything would have been deferent but you pay me each month and every month why not put the $ 8460 in a account and let you draw from it each month.
I LOVE it when tenants pay me in advance! I have specific clauses in my lease that circumvent the need for lack of payment in order to evict. All of the usual things, like drug abuse/conviction, felony convictions, causing the loss of other tenants, etc. It also covers me not having to pay them back the balance of what would be left on their lease that they pre-paid should they be evicted for any of these reasons.
These are all great ideas to have in a lease agreement. I had no idea of how detailed a lease agreement could be. I am fairly new on this forum but I think this is one of the best threads I have read on here.