Greetings and begginer question

[Carlos Appezatto]

Hello BPs. I'm really new to BP and real estate investment. I just bought my first rental property after doing a lot of reading and research. While I'm still not 100% sure we have made the right move in terms of numbers, I'm pretty confident we are in the right track based on what we have taken into consideration Vs what we've been reading. Now back to my question, our first rental is been on the market for a little over 2 weeks and after reducing the price a little we got a better response from potential renters. The problem is that they are coming with a few "buts". The first has a low credit history (in the 600 neighborhood) the second had a previous eviction and the third had a bankruptcy. We do have a real estate agent assisting us in finding renters and with the showings, however, I'm not really sure we should have a first "bad start" Should we minimize the risk of the "buts" by requesting a higher upfront deposit (e.g.: 3 rents in advance)? Any other/different recommendation? Thanks in advance, Carlos Appezatto

[Deanna McCormick]

Better to have the unit vacant a month than accept a poor tenant.

How dedicated is this real estate agent. I'd figure out a way to also take calls and show the unit yourself. People looking want Right Now appointments and showings, Your rental criteria should be discussed right off the start even before you go to the showing. 

Like this,at the phone call just simply state, our occupancy is limited to 4 people(or whatever you have set) , our credit requirements is credit score over 600, our income requirements are 2.5 times the rent, we screen all adults over the age of 18. We do not accept anyone with prior evictions or bankruptcies within the past 7 years. Security Deposit is $$$ rent is $$$. Will this work for you.. IF not they will hang up and you just move on to the next caller.

Email responses are slow way to attract tenants, put your phone number in and start answering the phone.