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Updated about 8 years ago, 12/04/2016
New Property Owner - Filling A Unit
Hi,
I am a new investor in Kalamazoo Michigan and I'm having some trouble finding a tenant that meets my minimum qualifications.
1) 3x rent in monthly income;
2) No evictions;
3) No felonies within the past 7 years and no felonies ever that were violent crimes, sexual crimes, crimes against children and crimes against animals.
Since August, I have purchased two buildings with a total of 12 units. Both buildings are under performing properties that I am doing basic cosmetic updates to. The first unit I had vacant and filled with (so far) good tenants in less then a week. The second unit (but a small one bedroom) in the same 4 unit building has been advertised for 3 weeks. I've had over 25 inquiries. Only three individuals met the minimum requirements and each one has taken an application but mentioned that it was probably too small for them.
Everything I have read shows no indication that my minimum standards are too strict regardless of place.
Any advice on how to get this place rented?
Thank you!