What is the one thing you hate doing within your REI business?

[Michael Calvey]

I'm curious, within your own real estate investing biz, what is the one thing you hate doing but needs to be done to run your business?

[JD Martin]

Turnovers. 

[James De Stefano]

I'm early on along the journey, but so far it's been the "walking on eggshells" while screening / accepting / declining prospective tenants. 

Maybe it's because it's beaten into our heads as RE agents, but I'm particularly careful when emailing, texting or calling applicants.   There's just 100 ways people can scream discrimination, when 90% of the time it's simply " You don't meet the income to rent"  

There's crazier things for sure, but this has been consistent! ha

[Bjorn Ahlblad]

Can't really say, I don't focus on things I hate. Ask me what I love; easy-it is the money.

[Michael Calvey]

Quote from @James De Stefano:

I'm early on along the journey, but so far it's been the "walking on eggshells" while screening / accepting / declining prospective tenants. 

Maybe it's because it's beaten into our heads as RE agents, but I'm particularly careful when emailing, texting or calling applicants.   There's just 100 ways people can scream discrimination, when 90% of the time it's simply " You don't meet the income to rent"  

There's crazier things for sure, but this has been consistent! ha

Screening tenants can be tricky—like tiptoeing through a minefield because you need to be careful about laws and the risk of discrimination claims. It's great that you're already being careful. Here are some simpler tips to make your process smoother and less stressful:

1. Make a Rule Book: Make sure you screen everyone the same way. Think of it like following a recipe—same steps, same ingredients, every time. This keeps things fair and covers your back if someone says you were unfair. Writing down what you do and why can also help you remember later.
2. Be Clear When You Say No: If you have to turn someone down, tell them exactly why. Like if their income isn't enough, explain how you figure out if someone can afford the rent. This helps them see it’s nothing personal, just math.
3. Keep Learning: Laws about renting to people can change. Staying sharp with courses or classes not only helps you stay out of trouble but also shows you’re serious about being fair.
4. Ask the Experts: When you're not sure what to do, talking to a lawyer who knows about real estate can really help calm your nerves and make sure you're doing everything right.
5. Use Smart Tools: Think about using a service that checks tenants for you. It's like having a helper that makes sure you’re thorough and following the law, which can make your job a lot easier.

It's cool to see someone who really cares about doing things right. How do you usually handle screening tenants, and have you found any helpful tools or tricks?

[Jeremy Jareckyj]

bad tenants/turns

[Don Konipol]

Dealing with attorneys…

[Benjamin Aaker]

Due diligence. One of the most important things to do, but if everyone was honest and kept good records, it would be easy.

[Jill F.]

Having multiple qualified applicants is a good problem to have, but I hate telling people that I would love to rent to that I rented a listing to another applicant.

[Mark Cruse]

Not much. It keeps me busy and sometimes chaotic but I have passion for it. I guess if I have to chose something itś having to encounter utterly dishonest bottom feeders. I also dont care for filing taxes and everything with it. My accountant got on my nears a few times in the past but now Iḿ on a quest for a new one. Trying to figure out which one is good, bad, incompetent or effective is nerve racking. The thought of jumping ship to someone who gets on my nerves more is annoying. 

[Mark Cruse]

Quote from @Mike Calvey:

Quote from @James De Stefano:

I'm early on along the journey, but so far it's been the "walking on eggshells" while screening / accepting / declining prospective tenants. 

Maybe it's because it's beaten into our heads as RE agents, but I'm particularly careful when emailing, texting or calling applicants.   There's just 100 ways people can scream discrimination, when 90% of the time it's simply " You don't meet the income to rent"  

There's crazier things for sure, but this has been consistent! ha

Screening tenants can be tricky—like tiptoeing through a minefield because you need to be careful about laws and the risk of discrimination claims. It's great that you're already being careful. Here are some simpler tips to make your process smoother and less stressful:

1. Make a Rule Book: Make sure you screen everyone the same way. Think of it like following a recipe—same steps, same ingredients, every time. This keeps things fair and covers your back if someone says you were unfair. Writing down what you do and why can also help you remember later.
2. Be Clear When You Say No: If you have to turn someone down, tell them exactly why. Like if their income isn't enough, explain how you figure out if someone can afford the rent. This helps them see it’s nothing personal, just math.
3. Keep Learning: Laws about renting to people can change. Staying sharp with courses or classes not only helps you stay out of trouble but also shows you’re serious about being fair.
4. Ask the Experts: When you're not sure what to do, talking to a lawyer who knows about real estate can really help calm your nerves and make sure you're doing everything right.
5. Use Smart Tools: Think about using a service that checks tenants for you. It's like having a helper that makes sure you’re thorough and following the law, which can make your job a lot easier.

It's cool to see someone who really cares about doing things right. How do you usually handle screening tenants, and have you found any helpful tools or tricks?

 I´ve never had this problem, nor do I know anyone who has ever been hit with discrimination claims. It seems like you cant be in jeopardy of that unless you are discriminating. I have a specific criteria for screening which has nothing to do with any race, creed, color, religion or anything else. Unless they are a nazi or something similar, what they are makes zero difference to me. If I have no bias naturally, naturally it cant come out in my selection. If someone believes that, I can show them the criteria and that will end it. The only way I could even think of this would be if I know I had personal feelings of bias to others. There is a member here that advises newbies to treat section 8 recipients like animals. Those are the types that have to worry about stuff like that. 

Not sure if I have to rent to someone I know is an open racist. I actually inherited a racist who consistently wanted to stay in my unit. Real story. 

[Justin Brickman]

Trusting others and handing off work. Need to do much better with this! 

[Alecia Loveless]

@Mike Calvey The only thing I truly don’t like so far is setting up appointments for a showing and then not having people show up.

[Chris Seveney]

Quote from @Mike Calvey:

I'm curious, within your own real estate investing biz, what is the one thing you hate doing but needs to be done to run your business?

 bookkeeping

[Bonnie Low]

Quote from @Mike Calvey:

I'm curious, within your own real estate investing biz, what is the one thing you hate doing but needs to be done to run your business?

 Honestly, I hate posting on social media. I'm just bad at it but I know it's important to drive more direct bookings.

[Matthew Morrow]

Quote from @Mike Calvey:

I'm curious, within your own real estate investing biz, what is the one thing you hate doing but needs to be done to run your business?

 Follow up and structure with prospective deals. One of the most important aspects but its always a time consuming aspect that most put off and miss out....

[Howard Koore]

Quote from @Mike Calvey:

Quote from @James De Stefano:

I'm early on along the journey, but so far it's been the "walking on eggshells" while screening / accepting / declining prospective tenants. 

Maybe it's because it's beaten into our heads as RE agents, but I'm particularly careful when emailing, texting or calling applicants.   There's just 100 ways people can scream discrimination, when 90% of the time it's simply " You don't meet the income to rent"  

There's crazier things for sure, but this has been consistent! ha

Screening tenants can be tricky—like tiptoeing through a minefield because you need to be careful about laws and the risk of discrimination claims. It's great that you're already being careful. Here are some simpler tips to make your process smoother and less stressful:

1. Make a Rule Book: Make sure you screen everyone the same way. Think of it like following a recipe—same steps, same ingredients, every time. This keeps things fair and covers your back if someone says you were unfair. Writing down what you do and why can also help you remember later.
2. Be Clear When You Say No: If you have to turn someone down, tell them exactly why. Like if their income isn't enough, explain how you figure out if someone can afford the rent. This helps them see it’s nothing personal, just math.
3. Keep Learning: Laws about renting to people can change. Staying sharp with courses or classes not only helps you stay out of trouble but also shows you’re serious about being fair.
4. Ask the Experts: When you're not sure what to do, talking to a lawyer who knows about real estate can really help calm your nerves and make sure you're doing everything right.
5. Use Smart Tools: Think about using a service that checks tenants for you. It's like having a helper that makes sure you’re thorough and following the law, which can make your job a lot easier.

It's cool to see someone who really cares about doing things right. How do you usually handle screening tenants, and have you found any helpful tools or tricks?

[Howard Koore]

Your answer is spot on. Every one should be asked the same questions. And memorialize everything via email. Keep good records so you can retrieve them if needed. Good luck.

[Jim K.]

@Mike Calvey

Evictions. I take absolutely no pleasure in the process. And the reality of my situation is that they are best handled by me and no one else.

[Craig Janet]

Scheduling a showing. Dealing with no shows even after confirming 30 minutes before the appointment.

I love when someone ask me if I'm the owner, that already tells me that they have been turned away from large real estate companies and they're looking for a sucker.

[Howard Koore]

Perhaps different states have different requirements for the eviction process.

[Simon W.]

Quote from @Chris Seveney:

Quote from @Mike Calvey:

I'm curious, within your own real estate investing biz, what is the one thing you hate doing but needs to be done to run your business?

 bookkeeping

 lol i just find it funny. This is the one thing I love doing. Been doing it for almost 20 years now. 

[Melanie P.]

Quote from @James De Stefano:

I'm early on along the journey, but so far it's been the "walking on eggshells" while screening / accepting / declining prospective tenants. 

Maybe it's because it's beaten into our heads as RE agents, but I'm particularly careful when emailing, texting or calling applicants.   There's just 100 ways people can scream discrimination, when 90% of the time it's simply " You don't meet the income to rent"  

There's crazier things for sure, but this has been consistent! ha

 This is a real liability, the government originates most of its cases through "testing" which is to say contacts with landlords where they pose as potential tenants. There is an easy solution. Our ads have all our leasing requirements. All they are getting from us is an appointment time. The requirements are in the ad, there are no exceptions to the requirements. We decline to comment on the wild stories of potential applicants who believe their story will overcome their history. The company line is simply: We cannot evaluate you as a tenant until you see the unit, complete the application form (which has a space to furnish explanations of anything you believe needs context) and pay the application fee. All requirements are in the ad. Should I keep you down for 2pm?

That's it. The person at the open house has no authority to make policy changes and wouldn't pretend to do so. Every response, same template. The tests they do involve making contact as different people of different backgrounds to determine if they are treated differently from one another. Sticking to your approval criteria and treating everyone the same thwarts that from happening even unintentionally. 

What I hate most are lawyers, city employees, condo/hoa boards and plumbers. The latter being a necessary evil. 

[Melanie P.]

Quote from @Alecia Loveless:

@Mike Calvey The only thing I truly don’t like so far is setting up appointments for a showing and then not having people show up.

 If we do not have at least 10 for a single appointment day/time we reschedule the few who confirmed. Usually 4-6 show up and one or two apply. 

[Becca F.]

Due diligence and could have done better research before putting offers in. in second place would be turnover

[Henry Clark]

Taking calls from people wanting to buy our properties when you know they don't know a thing about them.  

Due diligence to me is the fun part.  Where you make your money.  Pitting yourself against the situation.  “The Hunt”.  Could do this all day long.