Why the True Cost of an Eviction Is (Much) Higher Than You Think
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What is the most expensive eviction you've ever had to deal with coming .

out of the pandean? Actually, I lost about one hundred and seventy five thousand dollars.

What there is an estimated two point seven million evictions filed every single year.

It's a little bit harder to find tenants right now. And so the question I get is, should I lower my standard for tenants?

Everyone is dave. Welcome to today's episode on the market or this discussion. I am joined by my friend at James dinner. James, thanks for being here.

Thanks inviting me to this pleasant conversation today. I'm excited to talk about the victims.

Yeah, I mean, it's not a pleasant conversation, but it's IT is sort of just an unfortunate reality for realistic investors and it's an unfortunate reality for ten as well. No one wants to find themselves in the situation. But you know, as of now, IT still happens. And so I think the best that we could do as investors is figure out how to mitigate our risk of invictus, sort of minimize the impact that evictions have on our own investing and on the tenants that we're working with. Yeah.

it's all about prevention. It's no different thing like preventing property damage later, like if you take preventive measures, proper screening, proper maintenance, your investment does Better.

absolutely. And to sort of bolster our conversation here, we're going to a pair. James is tons of on the ground expertise with some research that our analysts and bigger pockets here Austin wolf has done for us on eviction. He's actually looked into and come up with specific numbers for what the average of vict costs for a property owner, for the tenant and for society as a whole. And I think these numbers are pretty eyes opening in the first place, but are also really helpful when deciding how to optimize and run your portfolio, how to Price your properties, how to screen tenants. Because once you have a dollars and sense figure that, you know, that could cost if you find yourself in a bad situation, it's sort of at least I find IT motivating to be more diligent on the front end and to take those preventative measures. Of course, after we talk to about this research, James Austin, I are going to talk about some measures that you can take to prevent or mitigate these costs in the first post.

So it's put on lost.

Austin, welcome back to on the market. Thanks for being here again. Happy to be here. This is great. You've doing some amazing research for us.

And today, of course, we're going to be talking about evictions and the broader cost of them for landlords, for tenants, for the broader economy and society. But I want to start, which is some sort of grounding of this conversation. So James, i'm actually gonna n IT to you. Can you give us some context around evictions? Like how what is the most expensive eviction you've ever had deal with .

vision are not fun. Not only do they slow your deal down, you end up having that Carried the property for a treatment is about time. But you know, recently, the worst thing that i've doubt with with the victims, I dealt with all different types of them.

But coming out of the penda, actually, I lost about one hundred and seventy five thousand dollars. What do on an apartment filling that I bought? But this was a combination from the pandemics restrictions, okay, but then also delays from the corp.

sensor. So I bought this property two months before the pandemic hit. IT was a massive fixer twelve unit building.

I bought IT with hard money. So on pain, eleven percent interest on my clothes, on the thing. The plan was moved, everyone out.

Unsafe conditions in the building. No one to be living there anyways. Forty percent of tens weren't pain when I bought, so they were on their way out the door. So I took us like that three to four months to time go to the deviation from there for their head demigods.

We don't collect rent for over thirteen months on this building cash and hard money pain fifteen thousand dollars a month that they we're collect, unlike twenty five percent rents. And I end up having to pay seventy percent of the tenants five grand cash each just to leave and forgive them all their background to get them to strategically move them out. And I still have one tenant on going through right now that i'm now formally a victim.

So it's been over two years, two thousand years. I'm still getting her out. And I have about another four months. And most recently, SHE said the building on fire.

on accident. Oh my gosh. Sh, wow. I think you've done some grounding force, their James, and sitting up.

What is hopefully the worst case in area for a property owner there? Austin, maybe you can try IT, but I haven't heard of A A two thousand thousand dollar eviction problem before. Hopefully, that's not the Normal cost for property owner or for tenants.

In the worst part is you can't do anything during that time. You just got to to cover the cash out. Labor is is long.

It's a long process and you get get a wither the storm. Now good thing we bought bad you ad and we're still kind of equity in the building even with that negative two hundred. But yeah not on.

So hopefully IT, we'll talk about how to avoid these problems and then also how to lessen the staying when these unfortunate situations do come up. Uh, because as you can see, they could be very costly on the property management side and will get into the inside as well. So also, why did you tell us a little bit about how James is story compares to the averages and what you've uncovered in your research? Yeah.

James, the story is certainly, I would say, the upper bound.

Yes, because everyone .

can expect .

to pay my life. Ah well.

it's it's such a great example of market choice and certain markets are more tenant friendly and certain markets are more landlord friendly. And through out the research that i've done, there are legal fees, core cost, potentially share fees. But IT seems on average, by far the greatest costs that you'll incur are the holding costs and then also potentially repair costs.

There might be unfortunately damaged the property or you might just need to turn and over for the next tenant. So if we try to create an average across all markets, we are going to get a lower to middle bound of maybe two to three months of a holding costs. Of course, there are some markets worth that's going to .

be much larger. okay. So let's just define a couple of these terms. So when we're talking about the monetary impact of an eviction for the property owner, we're talking about, like you said, what there's court costs, there's sheriff es.

So that's what the actual process of a you have also mentioned repair costs or turn over costs when you actually regain control of the property and have to fix them. But you've mentioned holding costs. And so holding costs, at least when I hear you say that awesome, assume that means the property is not donating revenue while this eviction process is going on.

But as the property owner, you are continuing to pay things like your mortgage, you're paying insurance, your paying taxes and other sof costs, Operational expenses for your business and for every month that the eviction goes on the sofa. Sts add up. Did I get all the variables there in .

terms of costs? Yes.

that's correct. okay. And so IT sounds like what you're saying is that the biggest variable in how much innovation costs is how long the eviction process takes.

That's what the research leads me to believe. I would love to hear James his opinion .

that as well well a gives I want to ask you in a second but awesome when you did your research, what is the uh range? What's the short end in a market for how long in a vict might take versus a really long and drawn out process?

Yes, there are certain states that are very land lord friendly. The process might take be three weeks at most to evict a tenant in and again in certain markets. And so I would potentially say that, that would be A A one month holding costs.

But then you also have to market the property and and get a new tenant in there as well. So maybe it's one month to evict and then another month, four, I guess, turn over. So um I I would want to combine those and say maybe two months might be maybe the lower bound of of months that you could be holding this property and encouraging those .

costs that could be very expensive depending on the market. You know couple thousand box, maybe up to ten thousand dollars depending on how much rent you're generating on one of these properties. So super high even on the low end.

James, i'm curious for you because, you know, that sounds like this. The story you shared with us at the beginning was a combination of ten and friendly laws, but also the unique circumstances of the pandemic, plus backlogs, es and all these things. What is the process supposed to look like in seattle, where, if you don't, now, where?

James of best, yes. So what is supposed to look like? And what happened is completely different.

You know, in seattle, like it's funny if you actually research like how long gs IT take to evict someone in the city of seattle, they're going to come up and you say, well, you have served them with a ten day notice where you're given about ten day notice on the door saying pair vacate, then IT goes into a fourteen day notice, then you file for eviction, you schedule through. Typically IT should be about forty five day ish. If if everything was going perfect.

that doesn't sound that bad. I mean, it's not great, but it's not as bad as the nightmare is just shared with us.

No, the issue being is once you far for eviction, you have to get a court date and the court date sometimes can be to year out one year. And so you are waiting for that whole period of time to get in to see the judge who you can get this eviction push through.

And if I ten IT, depending on the market that you're in, in in the west coast cities, some of these other cities, that the tens know what their rights are, what they aren't, and they know how to dragged this out. And the longer IT is dragged out, the more expensive is in seattle. My average unit is twenty five hundred dollars a month that i'm losing in ten months of the income. That's twenty five thousand dollars.

Is that your actual average ten months of .

income typically going to take me over ten months to get the whole eviction done from the first? No, you pay on the jury in the city. And each city so different, every state is not the sae.

Because city seattle, a lot different, has on time year now too, what time years that is IT called, you can't vict anyone to ask one to move if it's cold, god for bid. And so now there's all these extra restrictions that delayed the process and that delays can hurt. And so it's all about being preventative.

That's why I offered to pay people to leave from that bad building ahead. IT was every month that went by was costing me two thousand dollars a unit or canada wasn't pain. So giving them five right now was a steel for me yeah you know because it's the whole courses.

It's not the cost of the atterley is not the cost of the fees, is not the cost of is how old you have to hold IT. now. okay. Well.

thank you for sharing that. That makes a lot of sense. So IT sounds like you know the national life dusky is round numbers, but the national rent somewhere around like fifteen hundred books right now. I just say that so awesome. If IT takes that, say, two months of vacancies with three grand in expenses plus all these other things, sounds like four grand on the low end might be about right?

Yeah I be confidence and is probably the lower baLance that one can expect.

Wow, the super expensive. And I mean, James just told us at two hundred grants the high and but let's just talk about a single unit because that was twelve unit so often, what would you consider the high ends of the range.

high end of the range? Again, if we're factory in the markets where they have landlord friendly laws, I would say that we might be looking at maybe eight thousand for one unit. And again, that sort of like the higher range, is not an outlier sort of speak in change.

This case, I run in our lives too much, because I had one single unit, also turned the same period, costs me over sixty thousand dollars .

a single unit. Single unit. wow. Oh my god.

And these are nighter. Typical, like throughout the pandemic, throughout conception of us having units, we we run like ninety four, ninety five percent collection rate or higher. And so those are the nightmare weird stories. But yes, over sixty round on one single family house.

we do now have to take a quick break. But when we come back, we get even deeper into how these numbers add up and not just for landlords but for the economy as a whole. So stick with us.

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Looking back, investors and here with James dinner and Austin wolf talking about the true cost of a victim to jump back again will come back to this little bit later in the show with James. I do just want to ask, is this something you then put in your underwriting when you're considering deals? Do you assume for a larger property that you're gna have to evict a certain number of tenants?

No, because you know if you put out the right product and you target the right neighborhoods, we have very little issues collecting rents. It's when you do that's where IT becomes this kind of nightmare situation like the one also that I was sixty grand on. I underwrote that in because when I bought the property, I knew I was taken on this tenant situation. And so luckily I offered at least one hundred grand less. So even though I lost the sixty, we did build IT into our underwriting because we were expecting the on that house for being vacant for at least ten to twelve months.

So said someone were between four and and eight grand is our range. So would would be safe to say like six grand as the average costs you came up with.

I think that would be fine to say.

okay. So super expensive here. You know six thousand dollars on on a single unit could make or break a year, maybe more than one year depending on on the type of deal that you're looking at. So obviously, something you want to avoid as a property manager.

And again, i'll get to some, uh, preventative measures that you can take in just a few minutes, but I do you want to turn to the other part of your research, Austin, which is that, of course, this situation and eviction is obviously a really bad situation for tenants as well. No one wants to be in that situation. So can you tell us a little bit about what the costs are for attention that .

gets effected? yes. Now if they have put down a security deposit and they are being evicted, they're likely not going to get that security deposit back. So one can say that, that might be a cost to the tenant. They might also incur moving costs. And according to andy, which was previously on as anges list of the cost of moving a rental unit, an average can be between four hundred dollars and maybe up to three thousand dollars. I would say that maybe five hundred good number to use for, for total moving costs on average.

Of course, there might be other than that opinion, how much you have in how are you are going to move? And as far as calculating A A range that uh attended might financially and as far as costa s um I think depends on if were counting the security deposit and accounting moving costs as well. Let's say they're just paying a thousand dollars on on the lower end and they incur a four hundred a dollar moving costs on the lower end, then the lower end of the costs they might incur might be fourteen hundred.

And then if we go on the higher, higher end, maybe maybe five ground depending on security deposit and moving costs. This is a point that someone brought up uh, in the forms on bigger pockets. This is if we don't calculate the game that they're getting from not paying rent. So that's .

interesting yeah if we .

factor that out, those of the cost that their sort of may be coming out of pocket to pay.

okay. So to make sure I understand, let's using imaginary scenario where a tenant falls behind on rent for that, say, three months. So at the end of that eviction process, they may incurred the cost that you just outline here a couple thousand dollars, but presumably they didn't spend funny for three months because they were falling behind on rent. So you need to factor that in as well. You know, that makes a lot of sense. I actually read this book called evicted by Matthew dozen, and you guys heard this book, but IT paints IT a very interesting, uh, this picture of the situations and sort of the really unfortunate situation for tenants and lander like when these things happen and there are a lot of like harder to quantify elements to uh tenant for landlords to but for ten like mental health, physical health, uh, credit score, you know like those things kind of add up um in the process. Did you uncover anything there as well as ten?

Yes, there was a study published in twenty twenty two and the preventative medicine reports journal that did corporate evictions with a decrease. And in mental health, unfortunately.

they interesting. yeah. And one of the things that sort of struck me about this book was that how these situations really compound for tenants, and I can create this like really unfortunate cycle where you fall behind a rent, you get evicted, your credit score gets lower.

And so next time you go to rent, you know, to cover risk, landor's usually charge more or charge a higher deposit for people who have a poor credit score because they're considered risk here. That makes IT more expensive for the tenant, more likely for them to probably fall behind on rent again. And that creates a sort of negative feedback loop. So obviously, you know as as real state investors, we look at the situation and it's a huge disruption, frustrating to cost to our business. But there is also sort of a human cost on the other side of IT that we should recognize as well.

Oh yeah, I will wear you doubt anybody involved if if there are the short of the stick IT is a like, I mean, you have almost just come to terms with that. You can't think about IT. You just got to keep moving forward me because I will .

suck the life here. Yeah, it's a tough situation. So that looks like Austin based on what you are, say the costs for landlords around five grand. If we factor in the saved rent with your estimates of sort of the hard cost for a tenant, what would you estimate the average cost for a tenant to .

be if we're going to fact in safe rent IT might have been a net game for the tenant overall, uh, if they are not paying housing costs? Interesting OK. But if we don't factor that in and we're just going to discuss the actual hard costs, are that pain, I would say, might just be four hundred dollars on the lower end if we're not factory loss of a security positive well for just factory moving costs and might just be hundred dollars on the absolute lowest and higher end, maybe three thousand dollars if for fracturing in security deposit and and moving costs as well.

All right. So yeah really depends on the individual situation there given given who the tenant is. One thing as a don't know, i'm an economist, but I look at the economy a lot.

I'm curious about a sort of how what are some of the other factors that impact the economy here? Because I think the easy thing for us to understand is there are these hard costs, tenants and for property owners. But a lot of times, these types of situations that are disruptive to multiple parties can have these sort of other impacts on the broad economy or society. So i'm curious, awesome, what you uncovered there.

Yeah IT can be hard to exactly correct evictions with the downstream effects such as, okay, if if attention has to move and then need to find a place, maybe they move in a family member in the meantime and they might open up A A self storage unit and maybe that sort of increases, uh, demand for local store units in that area depending on how many events are happening.

And if ten need to actually store their things in the meantime, there could be potential a loss of property for the tenant if if they don't claim IT or got forbid they can't afford to move their property, they might abandoned IT. So that could be of a potential loss as well. And then there's also damage to the credit score to the tenant, which can affect their ability to pay for things using create cards to take out loans or even potentially get a new lease. So this is one of those areas that is particularly hard to quantify the downtown stream effects, but they do appear to be present.

Yeah I think one of the you know the biggest costs, at least for an n baster side that hating costs that people don't only think about because I mean, there's just standard you hire attorney, you post your notices, you go through your court dogs. Typically an average is going to cost us like I would say, etern fees like two to three rent in that range with postini.

And then there's the loss of brand, will we that's how many days is at the later how many months are you not getting paid rent time out by your income? So that's easy quantify to. But if the other things they can really screw up your investing, like given that property I bought with hard money, well, that required me to lock up twenty percent down for a two year period where i'm feeding my investment every month.

There is no gain happening at that point. You know, as investors, we make money by velocity of money, like how quickly can we put IT out, rack return, bring you back again. So then instead, in that scenario of me personally, that property rehabbing a burr and refining and getting my cash back, I thought I was going to have my whole down payment or majority back within a sixty eight months period.

Then I turned into two years. That can be detrimental for the return. And you know, a lot of a vectors to buy with bad tenants or delayed tenants, you know, tenants in eviction.

But you have to fact these numbers, and you have to make a big because when you take a time, mine, from nine months to twenty four months, you return just false IT drops dramatically. And so the cost of money is one of the biggest things that prevents growth, that locks up cash and you cannot go buy something else. You are growing. And that's one. I think the biggest cost of investors is when your money is in dead, you are not growing.

yeah. So that's a great point, James. I think that's super important to remember that like it's hurting you and that's money that you could be putting into another deal to making you upgrading a different apartment like IT just slows down everything, is just limits your resources and tires you up.

And i'm sure the same thing is true on the tenant side, like you could be putting that money that you are losing or using during the eviction process to to into small businesses or into community or spending IT elsewhere are right. Time for one last quick break, but we won't leave you without giving you strategies for preventing these costs in the first place. Will be back with that and a more hidden costs on the other side of the break.

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Hey, friends, welcome back to on the market. So IT seems awesome. You have quantified for us what I think most people know instinctively is true, which is that evictions are really bad situations for landlords, their bad situations for tenants.

There are bad situations for the economy. So how do we avoid this? Like do you have any recommendations you've uncovered that help you know stave off these situations in the first place?

Because as James said, once you're in IT, it's kind of just a really bad situation they have to get through to me. IT seems like the way to avoid these costs are tonight have a malian between the tenant and a property manager, property owner in the first place. Yeah.

that's a great question. I would say that this is particularly what I would say, the common industry knowledge when IT comes to renting a tisanes properly screen them, make sure you have minimum requirements, uh, make sure that their income is, uh, multiple of the rent three x the rent is one common metric that many people use A A minimum credit score. I've seen six fifty.

I ve ve seen seven hundred as a minimum here in, uh, fate fail arkansas, the absolute maximum minimum that you can check, force six, twenty five, you can actually make IT higher than that for a minimum credit score. So IT really depends on the area. And then one thing that you might want to do as well, if you can, in your market is as references and hopefully try to contact previous landlords, make sure that the tenant understands the lease agreement, and hopefully you have an excell property manager as well.

James, what about you, you know, in your years of experience doing this, how do you prevent evictions from happening in the first place?

We're in seattle and there's a lot of nightmare squatter stories, eviction stories. Yes, when IT does happen, IT is expensive, but had to prevent that. Well, one thing that we've learned is if we are delivering a very renovated nice product to the market, doesn't matter what Price point does not to be expensive, is just the quality of building really matters and who you are attracted in as a tenant.

Because if you have a place that you can revive, that is high quality standard, and that's where people want to live if you're going to get the Better applications. So for us, by renovating and deliver that product, we're getting the right people that apply. It's also the target demographic that we're shooting for.

Most of our units are in downtown seattle, where we are offering a nice place live, fully renovated and IT attracts a lot of working professionals and tech because were a renovated apartment building coming to unit rather than and new construction or our rent cost typically or what we're offering our units for rent are about a dollar of foot cheaper than new construction, if not more. And so we're kind of attracting like the entry level tech employees. And because we have a nice place to live, we are not the most expensive and we take care of our building.

You know, people make their payments. Like I thought the pandemics me detrimental. And again, we have like ninety two percent collection rate during that time during the pandemic. And that included the buildings we just bought and those were the ones are really dragon. And so if you're an investor that is constantly running into eviction issues, that might be what you're offering, offer a good place to live and you get good people plan.

Yeah, it's good advice. I get this question alone. Actually when the reasons we wanted do this episode is you think things are slowing down. It's not as competitive as IT was, at least in some of my experiences, is a little bit harder to find tenants right now. Then IT was during the pandemic when IT was super busy.

And so the question I get is, should I lower my standard for tenants? You know, like is IT okay to get someone with a lower credit score or to you know doesn't need that three to one rate o um and will I have my own opinion about IT? But James, i'm curious what your opinion is before I tell you. Mind you know if you're looking for a new tenant and let's say it's sitting vacant for a month, would you lower your criteria for a tenant or allow the property potentially set vacant for another month?

I would let IT sit bacon for another month, right? SHE go to the exaction that like where I have an initial granta property and this is for a red Price that I achieve three years ago. So that's a little like for me.

I would think IT to be higher, right? Should have sent appreciation. And so instead of drop IT, because I you know my property managers suggest to be a drop and I said, no, thanks. We're taking the time to add of extra at media and repairs to IT to make sure that we can still attract that really good tended like it's not worth the money. You will spend more money, sacrifice senior requirements that you will, uh, just hang in in there are keeping that red and words should be.

well, let's sort of backed up by what your research is awesome. Because you know usually if you have them, unfortunate situation of an eviction IT could cost you two, three, maybe even four times your monthly income rather than just the one additional month that you would get from another month of vaio. Cy.

I guess yeah, IT appears tenant selection is arguably one of the more important things in this whole process .

to preventing sure. Yeah, make sense. I think it's important to remember the cost to the tenants as well that like if you're putting a tenant and accepting a tenant into an apartment that they are not or a unit that they're not likely to be able to afford or might stretch them, that's not necessarily helpful because I might wind up in this even worse situation where, you know they fall behind on rents, which is obviously not good for anyone has we've been talking about.

you know. And that's why it's so important for everyone to do their research on what the rental rules and regulations are for the markets that you are investing in. You know a lot of people look for the analytics to look for the growth, but also what is the the process like right now?

City seattle in the last past twenty four months has passed so many different regulations on even what you can require to ask about your ten potential and that you you know in sydney, he had all the first qualified tenant that hits everyone in your checked boxes. You must rent to them. You can't go, hey, I got these five and out of the five, they're all great.

And I like this one best. You can actually pick your own time. And if they hit all of your requirements, do the first one apply? You have to get to IT is just so important for everyone to always research the new market that you're going into IT.

Like I just moved down arizona, i'm researching what is the application process, what is the eviction issues and what is the process for that? What is that cost? Because you have do have to work that in to your performer and also just how you're run in your business if you're a mom and pop Operator and you're picking the tenant, you're not supposed to be.

I can see out of you like, I like this person Better. I'm going to go with them. What should be a natural, in my opinion, natural right to do whatever you want house. But you need to know these things because if you do me wrong, I can be expensive, you can get sued and you can delay things, and you might get tennis that you really didn't really want in your property the first place. And so look at the regulations in the requirement as that is the metri C2Behind the m.

Yeah, that's a great point, actually brought me to my last question. I wanted to ask you here, James, is what do you do when you're in inherited tenants? I've been fortunate and i've only ever had one eviction in my portfolio and fifteen years and then IT was an inherited tenant. And I just like I look back on that situation and I don't really know what I could have done differently except maybe under rioter sets of money aside for a potential eviction when you're taking over, especially a multi unit, do you have any advice on that?

Yeah so we buy a lot of tenants. You I mean, that's how we get a lot of goodbye. I mean, for anybody looking for multiply family buildings right now, with the cost of money and the coast repairs, if tenants are not paying their rent, it's the non performing asset.

And you can you know we're actually that's probably the biggest value add that we're getting off right now. Some investors, some syndicators bought the property, not performing property mention to add control are going through through a bunch of evictions. It's taking forever and they did not realize that he was going to happen in our market.

There is the ada state investors. They're dump in them off to us. And so how do we prepare for that? Well, we either undertake cash for keys where we might even put in upwards towards ten thousand dollars as our budget going. Hey, if we put ten thousand dollars into factor for the cost of the eviction to move out or cast for keys, if that they were by a twelve unit building, well, that's one hundred twenty thousand that were put in a side and then the first thing we do isn't push the eviction forward or try to save the money.

We go offer the money like, hey, because if I go to you, dave, and you're pay me twenty two hundred dollars, mother was and now you're not paying me hey, look, I just thought this building, how about we break up? Here's ten thousand dollars if you can move out by the end of the month because we'd rather overpay them and get them move now. But yes, so typically we're putting at least six months of rent inside of our performer as a cash out of pocket expense. And as long as we cover that expense and we adjust for the time lines, you can still make the deals pen for what are right.

Well, this has been super helpful for both of you, appreciated. And hopefully everyone here just understands this situation is rough for for everyone involved. And hopefully by knowing the true expense and cost and how impacting negatively impact for can be on your business that everyone should be motivated to try avoid these situations. Do you have any other last thoughts I from your research before .

we get out here, one thing that I just wanted to bring up with the total impact on the economy. If we sort of some of the the costs that the landlord occurs in the costs that the tenant curse, we just some them up together, bun them up together. If we take a, say, an average of five grand costs to the the landlord and maybe we just say that we're doing the lower bound on the tenant.

Of four hundred dollars. okay? We have a total cost between the landlord attended on average of fifty four hundred dollars. Well, there was a study that was a released recently that said there was an estimated two point seven million evictions filed every single year.

So if apply two point seven million by, say, the average of fifty four hundred a total cost between landor's tenant, that gets us an estimated minimum negative impact about fourteen and a half billion dollars on the economy each year and that's a minimum that's a lower bound. So ah IT really does suck for everybody, uh, when this occurs. So I do think to your guys is points that screen for tenants and making sure that you have the right people in your property is the most ideal situation.

hi. Well, thank you both for talking about this interesting and unfortunate side of our industry. But you know, bringing this stuff to light hopefully help everyone make Better decisions to optimize your own portfolio and find tenants that are good match for the product that you're offering.

As James and awesome have recommended we do. Thank you both, and thank you all so much for listen to this episode of on the market will be back in a few days. On the market was created by me, dave mayer and calling benet. The show is produced by kale Bennett with editing by exodus media. Copywriting is by calico content, and we want to extend a big thank you to everyone a bigger pockets for making this show possible.