Lesson Learned about Tenant Applications

[Lorie Thomas]

I've been managing a handful of rentals for the last 15 years, but you learn something new everyday either about the business or about yourself. I'm writing this as I sit here mid January in the freezing cold when everything looks ugly , mid school year and have no qualified candidate for a rental the will be vacant January 31st. I have no one to blame but myself so I thought I’d share. I have a general rule that I like leases to end each June and I require a 1 year lease. Last June I had at least 12 qualified applicants for one of my most desirable 4 bedroom homes. I chose one family and when for it. But when signing day came they said “oh, we are only signing a 6 month lease” We must have mis understood, but dont worry we love the place and I’m sure we’ll be here for at least a year. In that moment my “nice girl” came out. Mistake #1. I should have insisted on a 1 year lease and if they refused gone onto my other 11 qualified candidates. But I really like these people and they seem nice…ugh. My second mistake was choosing the family with small children i.e.. not in school yet. You see EVERYONE  moves to this area for the schools. It’s a pretty big deal. But when you have little babies you could care less about moving mid year. In fact, it does not even occur to you.  So here we are at the 6 month mark, the lease has ended and of course they are moving. I’m all for being nice, in fact I think it’s one of my best qualities. Now I need to work on being Direct and holding my ground and looking at the bigger picture. Ok…rant over.