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Updated almost 10 years ago on . Most recent reply

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Dan C.
  • Milwaukee, WI
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so who are the "I need to move as soon as possible" applicants?

Dan C.
  • Milwaukee, WI
Posted

I am managing a property in a Class C area for the first time; my other places are in nicer areas.

So one of the things I have encountered is maybe 10% of the calls are from people who sound quite desperate and mention they have to move as soon as possible.

I never got too far with any of those callers.  But I was curious from those more experienced in these areas: what are the most common reasons these people are so desperate?

Most Popular Reply

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Randy E.
  • Rental Property Investor
  • Durham, NC
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Randy E.
  • Rental Property Investor
  • Durham, NC
Replied

10% sounds like a low estimate to me.

1) They are behind on rent at their current place, have abandoned any idea of catching up on their rent there, and want to move before court eviction.

2) They are living with someone else (family, friends, roommates, strangers, soon-to-be ex,) don't like their living situation very much, and desperately want to move.  Some  lower-income applicants are living in overcrowded situations when they apply.

3) They are living with someone out of town (or far from their job) and they want to move somewhere closer to work.

The people who want to move "right now" put up a red flag for me, but it's merely a flag and not a stop sign.  As long as they check out otherwise, I will rent to them.  Prior evictions are the biggest red flag to me.

Some people are living in untenable situations and want to move immediately.  Others simply speak with a lot of hyperbole and make the situation seem more urgent than it really is because they think that will make the landlord understand they are serious about renting the unit.  Others simply speak that way on an everyday basis.

Renting to that constituency may be disconcerting to you if you don't have life experience with people from those neighborhoods.  You may have difficulty understanding nuances in speech and body language, and vice versa, and that may lead to misunderstandings on both sides.  And if you're accustomed to requiring 3x or 3.5x income to rent, you may have to lower that somewhat -- but maybe not.

Mostly, I've found if you do your due diligence with screening, everything should go fine.   Don't give in to pressure to rush your process because an applicant keeps reminding you how quickly they need to move.  That same person, when you call her a week later to inform her you will let her move in, will then tell you she's changed her mind and is staying where she is.  Let your process dictate which applicant gets the unit, not who says they have the most pressing reason to move immediately.

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