Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago, 09/19/2022

User Stats

31
Posts
34
Votes
Winter Heintz
34
Votes |
31
Posts

Potential Renters Don't Follow Through in Rental Process

Winter Heintz
Posted

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!

Loading replies...