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While at the California Apartment Association luncheon, I had a chance to catch up with one of the sales reps for a magazine that advertises apartment spaces. It is the kind of free magazine you find at the grocery store. She indicated that her business had dropped off precipitously by late summer because so many home owners who had lost their homes to foreclosure were knocking on the doors of apartment managers looking to rent units. That lasted for a short while… Turns out those same folks figured “if my credit is shot anyway”- why pay rent?! Property managers were faced with eviction challenges and are again advertising their units for rent with this vendor. Moral of this story: Property managers/owners still need to screen their tenants and still need consider the probability these tenants will honor their lease agreements.

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