Potential Renters Don't Follow Through in Rental Process

[Winter Heintz]

Hello! I own a duplex, live in one side and rent out the other. I had the previous side rented WAY under value ($850 with utilities included) for the past 2 years. My previous tenants moved out and I currently have the property listed at $1,100/month utilities paid by the tenant (which is in-line with it's market value and worth). I have had so much interest in it it's hard to keep up. I have a thorough pre-screen process and ask questions prior to scheduling a tour. About 90% of the time after the showing the potential renters are interested and do the application and background check but when it comes time for the deposit to hold (I state the entire process and qualifications in the pre-screen and go over it with them in person so my expectations are clear), nobody follows through (non-refundable deposit to hold is half of security deposit at $550 and the rest of the security deposit ($550) is to be paid at lease signing). It is extremely frustrating and time consuming. 

My question is: How do I ensure these potential renters will follow through? Is there a way I need to be more direct with them in the process? I feel like they are all duds and say they can pay everything on time but then they don't, obviously I don't want renters that don't pay on time anyways but it just wastes so much time and money. Everyday my unit is not rented out it's costing me. Give me your advice!

[Malkia Ra]

Quote from @Winter Heintz:

Quote from @Malkia Ra:

Quote from @Winter Heintz:

Quote from @Theresa Harris:

If they are viewing it and doing the background check, you'd think they'd be serious vs tire kickers.  How much time is passing between viewing, screening and you contacting them to sign a lease?  Are they aware that the $550 converts to part of their deposit once they move in?

 That's what I would think. Each background check/credit check is $29 per renter via Zillow, so they have some skin in the game. They are aware that the $550 goes towards the security deposit. I am sure to explain that to them thoroughly so they don't think it's additional. Depends on availability between myself and the potential renters but I try to get the pre-screen, questions, tour and application done within 48 hours. I've been giving tours pretty much every other day.  Some people can't make a tour until a week out! 

Zillow's $29 application fee allows potential renters UNLIMITED application-submissions (for 30 days).  If the application process is through Zillow, people are most likely applying to tons of rentals within that period.  If they're not committing, chances are they've submitted applications elsewhere and most likely have their eye on something (they think) could be better.

 Good insight! What's a better background / credit check software I could use?

I recently used TurboTenant to screen and ultimately got a lease signed.  The fee (paid by the potential tenant) is higher; however I found the background check/eviction report/credit check to be more thorough than Zillow's screening.

The service is free for landlords.  You simply provide the name and email of your potential tenant(s) and TubroTenant does the rest.  You're also able to print or download the screening results.

Once I approved the screening, I sent the lease via DocuSign (with a 48 hour window clause to sign the lease and send the deposit).

Smooth like butta!