Getting a signed lease

[Lisa Ryan]

Hey all!

I started advertising for my property 3 days ago and had a showing yesterday and another one lined up for Friday. Just as background info (sorry for the repetition if you read my other post) I had one property manager tell me $1,300 was fair market rent and another tell me $1,700. I personally think $1,300 is too low and $1,700 is too high, so I'm advertising $1,400 for a 2 year lease & $1,500 for a 1 year lease. Water not included.

Since this is my first rodeo, I wanted to get some insight into the proper order of doing things. Here's what I've done so far: (1) someone responds to my add on craigslist and I email them pre-screening questions (name, number, reason for moving, # of people & relationship, intended rental term, occupancy date, smoking, pets, approximate credit score, occupation) (2) they write back and if there aren't any glaring red flags, I call them & ask if they would like a showing (3) have the showing & give them application to fill out.

That's as far as I've gotten so far. The people last night seemed really great and they liked the place, but I haven't received a completed app yet (it has been less than 24 hours). I've also decided on using mysmartmove.com for screenings - they can pay via credit card directly and then it just sends me the report.

Fast forward to *hopefully soon* receiving a completed application and a credit/background check that I'm comfortable with. I guess I would have them come back over to the house, sit down at the dining room table, and get the lease signed? Do I need to explain to them what is stated in the lease and why or just sit back, relax, and see if they have any questions?

Also, how long should showings typically take? Last night seemed to go really fast. It went well, they definitely liked it & were friendly, but it was quick. Like 5-10 minutes.

Sometimes I hate my age, height, hair color, and gender. I feel like they're all rolled up into a quadruple whammy that make people take me less seriously. I still get carded for rated r movies, how is someone supposed to sign a lease with me? That's my insecurity talking, never mind it.

[Jon Holdman]

Most showings are very quick if they don't fill out an application.  If they leave without filling out an application (and paying the fee) you probably won't ever hear from them again.  Not impossible, but unusual.  Always have pens and applications and encourage people to fill them out on the spot, if they're interested.

I only do showings once a week and tell everyone the same time.  Once in a while there will be two groups at once, but that's unusual, too.

For the lease signing, I do that at the property.  Have everyone there.  I do go over the lease paragraph by paragraph.  We all sign, they give me the first months rent and full deposit in cash or equivalent, and I give them the keys.