How to Save Your Rental Property When “Good” Tenants Turn BAD

Could your rental property be occupied by bad tenants masquerading as good residents? After an incident that led to thousands in property damage, a complex insurance claim, and an eviction, today’s guest learned the importance of a watertight tenant screening process. And YOU can, too-without all the drama!
Welcome back to the “Real Estate Rookie” podcast! Chelsea Borden owns four duplexes in Buffalo, New York-an investing market with a low barrier to entry, where new investors can achieve the one-percent rule with relative ease. What Chelsea learned, however, is that it only takes one bad tenant to disrupt an otherwise-smooth long-term rental operation. In this episode, she shares how a family friend caused $11,000 in damage. By acting swiftly, Chelsea was ultimately able to evict the tenant, rehab the property, and place a new tenant.
Tune in as Chelsea shares her biggest lessons learned from this costly experience. You’ll learn the ins and outs of filing an insurance claim, why you should require your tenants to carry renters insurance, and how to get the ball rolling when evicting a tenant. Chelsea also shares her best tips on home renovation projects, screening tenants, and homeowners insurance policies!
~~~~
Join BiggerPockets for FREE 👇
www.biggerpockets.com/signup?...
~~~~
Join the Real Estate Rookie Facebook Group:
/ realestaterookie
~~~~
Find an Investor-Friendly Agent in Your Area:
biggerpockets.com/agentmatch
~~~~
Find Investor-Friendly Lenders:
biggerpockets.com/findlenders
~~~~
The REAL Cost of Bad Tenants and “Cheap” Contractors (Mistakes to Avoid!):
www.biggerpockets.com/blog/ro...
~~~~
The $150K “Stolen” Rental Property and How to Avoid a Real Estate Scam:
www.biggerpockets.com/blog/ro...
~~~~
Making $115K From a Nightmare First Deal (Cops, Evictions, and Break-Ins!):
www.biggerpockets.com/blog/ro...
~~~~
How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability:
www.biggerpockets.com/blog/ro...
~~~~
Connect with Ashley:
BiggerPockets: www.biggerpockets.com/users/e...
Instagram: @wealthfromrentals or / wealthfromrentals
Show notes at: link.chtbl.com/Rookie
00:00 Intro
00:59 The Dreaded 10 PM Phone Call
08:39 $11K in Damages?!
14:52 Renovations & Investing in Buffalo
20:01 How to Screen Tenants
27:51 Chelsea’s Insurance “Pro Tip”!
29:40 Connect with Chelsea!

[@trentgumpp4193]

Awesome video. Thanks for sharing and all the little tips!

[@missyminutia6766]

Amazing, amazing video!! Love hearing about “worst tenant” and screening/application tips 😅👍🏻

[@dhowto3005]

Hopefully, I never have to use my insurance, but this was very informative.
Thanks!

[@aprilvancleve9463]

Thanks for the tips and your story!
My family and I went to Buffalo recently to see Niagra Falls and I was floored at how different it looks compared to the Canada side! I would think that would be a great market for tourists... Do you see that area improving at all?

[@kimberleyrivera4407]

I keep getting deny access to real estate rookie on fb.