Pro Athletes as Tenants?

[EdRenkema]

I had 3 applicants for my condo tnhs in Hamilton that want to rent soon - July 1st. They are 3 single guys that play football for the Hamilton Ticats. They only want a 6 month lease and are willing to pay a premium. They will pay up to $1800 for a $1300 townhouse but only for 6 months.
What potential problems should I look for??
I met them today and they seem like decent fellows, but who isn`t when they want a place.
Its tough getting good tenants right now, this will pump up the cash flow for a good 6 months.

 

[GarthChapman]

Ed, we had an Edmonton Eskimo in one of our furnished rentals for a few months last year. He was great and the money was good. Interview and investigate him jsut like any others.

I`d suggest the ones to watch out for are the linebackers - they are crazy, all of them. Linemen are the smartest. And these guys come to work - there are only two leagues left with the folding of the Arena League and the European League fo American Football (or whatever they called it).

 

[BrianPersaud]

QUOTE (EdRenkema @ Jun 21 2009, 11:46 PM) I had 3 applicants for my condo tnhs in Hamilton that want to rent soon - July 1st. They are 3 single guys that play football for the Hamilton Ticats. They only want a 6 month lease and are willing to pay a premium. They will pay up to $1800 for a $1300 townhouse but only for 6 months.
What potential problems should I look for??
I met them today and they seem like decent fellows, but who isn`t when they want a place.
Its tough getting good tenants right now, this will pump up the cash flow for a good 6 months.

Nice..perhaps they could introduce you to a few jv partners..they`d be great testimonials too

 

[Mitch Collins]

QUOTE (EdRenkema @ Jun 21 2009, 08:46 PM) I had 3 applicants for my condo tnhs in Hamilton that want to rent soon - July 1st. They are 3 single guys that play football for the Hamilton Ticats. They only want a 6 month lease and are willing to pay a premium. They will pay up to $1800 for a $1300 townhouse but only for 6 months.
What potential problems should I look for??
I met them today and they seem like decent fellows, but who isn`t when they want a place.
Its tough getting good tenants right now, this will pump up the cash flow for a good 6 months.


Three single professional athlete men who want to live together?

Even if you got a premium of $500 per month for 6 months, how far would that $3,000 go towards repainting, etc?

They might be great tenants, but more often than not a situation like this will probably end up ugly. Get applications with their current addresses and take a look at where they live - any evidence of partying or other unruly behaviour?

If you`re serious about these people - go in with both eyes wide open!

 

[EdRenkema]

QUOTE (GarthChapman @ Jun 21 2009, 09:08 PM) Ed, we had an Edmonton Eskimo in one of our furnished rentals for a few months last year. He was great and the money was good. Interview and investigate him jsut like any others.

I`d suggest the ones to watch out for are the linebackers - they are crazy, all of them. Linemen are the smartest. And these guys come to work - there are only two leagues left with the folding of the Arena League and the European League fo American Football (or whatever they called it).


The main guy is a quarterback and the other is a running back. Both smart guys, one has a masters and the QB is working on his MBA. The third is a Canadian from Mississaga who I believe is a lineman, need to check them all out I guess.
Short on time with the Edmonton conference coming up, they want in by July 1st. I will go through the necessary steps though, whatever it takes.

 

[mortgageman]

Check and see if there are any consequences these guys would face from the Ti`Cats if they mess up as tenants.
That should help keep them on the straight and narrow.

 

[RandyDalton]

QUOTE (EdRenkema @ Jun 21 2009, 11:46 PM) I had 3 applicants for my condo tnhs in Hamilton that want to rent soon - July 1st. They are 3 single guys that play football for the Hamilton Ticats. They only want a 6 month lease and are willing to pay a premium. They will pay up to $1800 for a $1300 townhouse but only for 6 months.
What potential problems should I look for??
I met them today and they seem like decent fellows, but who isn`t when they want a place.
Its tough getting good tenants right now, this will pump up the cash flow for a good 6 months.

I had Argo players move into a house beside where I was living back in the 80`s. I got to know them fairly well and partied with them often. I must say they partied alot however they always took good care of the place they were in and were good neighbours to have. Never a problem and always respectful of the hours and other peoples schedules.

You still have to do your due diligence though.

Regards...Randy D.

 

[terri]

QUOTE (mortgageman @ Jun 22 2009, 06:52 AM) Check and see if there are any consequences these guys would face from the Ti`Cats if they mess up as tenants.
That should help keep them on the straight and narrow.


hi Ed,

I agree with Garth, interview them and do your due diligence just like any other prospective tenant. I wouldn`t assume that just because they are professional athletes that they will trash the place. As quasi celebraties, yes they may have a few more women over than if they are single, they may have a few more parties, but they are professional athletes and they did not get to where they are by partying, it requred the same kind of training and hard work that it takes to be the best at anything. There are good and bad tenants from all walks of life.

Look at it this way, there`s a very slim chance that they will start a grow-op in the basement, hehe.

My biggest concern renting to them would not be their profession. You know that they can afford the rent.

I would be concerned about the 6 month lease. It will leave you with a vacancy in january. is the "premium" rent they are paying enough to cover 3-4 months vacancy through next winter?

good luck,

Terri

 

[NeilUttamsingh]

QUOTE (EdRenkema @ Jun 21 2009, 11:46 PM) I had 3 applicants for my condo tnhs in Hamilton that want to rent soon - July 1st. They are 3 single guys that play football for the Hamilton Ticats. They only want a 6 month lease and are willing to pay a premium. They will pay up to $1800 for a $1300 townhouse but only for 6 months.
What potential problems should I look for??
I met them today and they seem like decent fellows, but who isn`t when they want a place.
Its tough getting good tenants right now, this will pump up the cash flow for a good 6 months.

Ed,

I got the same call on Sunday from the Ti-Cats promoter. I don`t know if she shared this information with you, however, here is what I learned...

The Ti-Cats and the Hamilton Bulldogs (OHL) have a working relationship in regards to their housing for players. Once the Ti-Cats lease is up, it is possible that some of the Bulldogs players will need housing at this time as well. If you keep in touch with their promoter, you may be able to fill your unit for the following 6 months with Bulldogs players.

Regards,
Neil.

 

[BrianPersaud]

QUOTE (EdRenkema @ Jun 22 2009, 08:39 AM) The main guy is a quarterback and the other is a running back. Both smart guys, one has a masters and the QB is working on his MBA. The third is a Canadian from Mississaga who I believe is a lineman, need to check them all out I guess.
Short on time with the Edmonton conference coming up, they want in by July 1st. I will go through the necessary steps though, whatever it takes.

Hi Ed,

Don`t complicate things..do your normal checks.

 

[EdRenkema]

QUOTE (NeilUttamsingh @ Jun 22 2009, 08:20 PM) Ed,

I got the same call on Sunday from the Ti-Cats promoter. I don`t know if she shared this information with you, however, here is what I learned...

The Ti-Cats and the Hamilton Bulldogs (OHL) have a working relationship in regards to their housing for players. Once the Ti-Cats lease is up, it is possible that some of the Bulldogs players will need housing at this time as well. If you keep in touch with their promoter, you may be able to fill your unit for the following 6 months with Bulldogs players.

Regards,
Neil.

Thanks Neil,
These guys really impressed me and they offered to help get tenants once they were near time to leave. Their employment reference (the Ticats media person) and landlord reference gave them glowing reports, they are definitely character guys, make enough money and not so much that they are arrogant and careless.
At this time they are checking out other places, I would easily place them given what I`ve heard, time will tell.

 

[Mitch Collins]

QUOTE (terri @ Jun 22 2009, 06:32 AM) hi Ed,

I agree with Garth, interview them and do your due diligence just like any other prospective tenant. I wouldn`t assume that just because they are professional athletes that they will trash the place. As quasi celebraties, yes they may have a few more women over than if they are single, they may have a few more parties, but they are professional athletes and they did not get to where they are by partying, it requred the same kind of training and hard work that it takes to be the best at anything. There are good and bad tenants from all walks of life.

Well - what I was thinking is that they are professional `underachievers` if they`re playing in a Canadian sub league!

So I was thinking of that some...

Look at it this way, there`s a very slim chance that they will start a grow-op in the basement, hehe.

My biggest concern renting to them would not be their profession. You know that they can afford the rent.

I would be concerned about the 6 month lease. It will leave you with a vacancy in january. is the "premium" rent they are paying enough to cover 3-4 months vacancy through next winter?

good luck,

Terri

 

[CaesarPua]

QUOTE (terri @ Jun 22 2009, 09:32 AM) hi Ed,

I agree with Garth, interview them and do your due diligence just like any other prospective tenant. I wouldn`t assume that just because they are professional athletes that they will trash the place. As quasi celebraties, yes they may have a few more women over than if they are single, they may have a few more parties, but they are professional athletes and they did not get to where they are by partying, it requred the same kind of training and hard work that it takes to be the best at anything. There are good and bad tenants from all walks of life.

Look at it this way, there`s a very slim chance that they will start a grow-op in the basement, hehe.

My biggest concern renting to them would not be their profession. You know that they can afford the rent.

I would be concerned about the 6 month lease. It will leave you with a vacancy in january. is the "premium" rent they are paying enough to cover 3-4 months vacancy through next winter?

good luck,

Terri

Hi Ed,

Terri makes a great point. A 6 month lease starting on July 1st leaves you with a potential vacancy in January. Having said that, there`s also less "supply" in January for the very same reason so the premium rent might make it a worthwhile case.


Caesar

 

[Mike Milovick]

Ed;

I saw the title of the posting. I thought you were considering renting to Phoenix Coyotee players and was going to advise against

QUOTE (EdRenkema @ Jun 21 2009, 11:46 PM) I had 3 applicants for my condo tnhs in Hamilton that want to rent soon - July 1st. They are 3 single guys that play football for the Hamilton Ticats. They only want a 6 month lease and are willing to pay a premium. They will pay up to $1800 for a $1300 townhouse but only for 6 months.
What potential problems should I look for??
I met them today and they seem like decent fellows, but who isn`t when they want a place.
Its tough getting good tenants right now, this will pump up the cash flow for a good 6 months.

 

[EdRenkema]

QUOTE (MikeMilovick @ Jun 25 2009, 05:53 AM) Ed;

I saw the title of the posting. I thought you were considering renting to Phoenix Coyotee players and was going to advise against

Not till the fall Mike.... (of 09? or 10?)

Balsillie is an eternal optimist and definitely not a quitter.

 

[Anonymous]

QUOTE (EdRenkema @ Jun 21 2009, 11:46 PM) I had 3 applicants for my condo tnhs in Hamilton that want to rent soon - July 1st. They are 3 single guys that play football for the Hamilton Ticats. They only want a 6 month lease and are willing to pay a premium. They will pay up to $1800 for a $1300 townhouse but only for 6 months.
What potential problems should I look for??
I met them today and they seem like decent fellows, but who isn`t when they want a place.
Its tough getting good tenants right now, this will pump up the cash flow for a good 6 months.

We rented to 4 Hamilton TiCats a few years back and they were clean and neat and never partied. Too busy trying to stay on the team. I got them for 6 months and the rent was paid by the team and their wages garnished to ensure they always had a place to live. I would do it again accept we want a full year. To rent at this time would put you in the winter to find another tenant. Although I have rented to tenants in December, start promoting the townhome in November for a new year move.

Hope this helps,
Carol

 

[EdRenkema]

QUOTE (CarolGarrett @ Jun 29 2009, 09:12 AM) We rented to 4 Hamilton TiCats a few years back and they were clean and neat and never partied. Too busy trying to stay on the team. I got them for 6 months and the rent was paid by the team and their wages garnished to ensure they always had a place to live. I would do it again accept we want a full year. To rent at this time would put you in the winter to find another tenant. Although I have rented to tenants in December, start promoting the townhome in November for a new year move.

Hope this helps,
Carol

These guys passed on the place but their references checked out very well, no question they were character people.