Savvy Land-lording Part 4 More Screening Tips

  1. When you have two males or two females wanting to become roommates and

rent from you include the following sentence in the lease.

“Each lessee is responsible for the entire lease individually. “

Once you have the answers to your questions, you can tell the prospective

tenants you will pass this information on to the owner and you will get back to

them if he is interested. Or, if you already know that you are interested, you may

go ahead and set an appointment.

2. To maximize the use of your time, schedule a couple or several appointments five to

ten minutes apart. Expect the fact that you will have some no shows.

3. When you are face to face, listen! If you are naturally a talkative person,

control yourself. You learn more from listening than talking. Of course, you

should always have a friendly demeanor. Keep in mind you are about to decide

who you are going to entrust with your valuable asset. This is your money

machine. The last thing you need is a tenant who presents himself as an angel and

then transforms into the tenant from hell who turns your home into a money

eating alligator.

4. You bought this book for the information it contains to help you earn and

save money. Take my advice to heart. If you do otherwise, you will end up with

money out of your pocket a hundred times the cost of this book. It indeed will be

an expensive lesson. I am trying to emphasize this point because I know; I have

made the mistakes! Those mistakes have cost me plenty.

5. After giving prospective tenants a tour through the home and you have

decided you are interested in them so far and if they have not already indicated

so, ask them if they are interested in the home. If they respond positively, ask

them if they would like to fill out an application. Hand them an application; you

would prefer they fill it out right then at the counter or in the car. If they want to

take it with them, let them know they could email it back to you to save time. You

do not want to be waiting around a couple of days for a good prospective tenant

to get back to you if you can avoid it. Let them know they may not be the only

tenant for the owner to consider, that you like them and would like to see them

get the home.

6. If you actually have to pay to get a copy of their credit report, that cost will

be their application fee. Offer to provide them a copy of their credit report for

review. Also, tell your prospective tenants that a deposit of $50 – $100 minimum

with the application is necessary to show their seriousness and it will be applied

toward their security deposit. If they are hesitant about this, you have to question

their serious intent to take the home.

7. Some will be willing to give the full amount and the first month’s rent right

then in cash. Do not let this tactic intimidate you.

Check them out in the normal procedure. You would not want to take their

money if you did not feel good about them getting the home because you do not

like handling other people’s money or the hassle of refunding it.

Once you know that you do not want the tenant, quickly show them through

and talk as little as possible. Say good-bye to them at the door. For those who

express their interest in the home, I do not advise you to tell them you are not

interested in them. Be tactful. If they ask for an application, it is best to give them

one. Avoid any problems. You will just never call them back. If they call you,

tell them the owner decided on someone else.

Next Post will be “Playing Detective to get to the truth.

December 18, 2017

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