What happens if the tenants trash the place and move out?
That’s part of being a landlord. We retain the tenant’s security deposit for damages and immediately repair the unit. We begin marketing for a new tenant immediately to minimize cash flow loss. Since we prefer to “sell” the properties on a Rent-To-Own program we see a very low occurrence of tenants abandoning our properties. If more funds are needed to repair damage to a home, a second lien loan may be taken out on the property to cover those costs.
