What is your rental process?

[Kai Van Leuven]

I have been renting out property for a long time. This latest rental has been pretty tough to move. I wanted to outline my process so you guys could tear it apart:) Any feedback is greatly appreciated.

1. Get home 100% ready

2. List on Craigslist, Zillow, Facebook

3. Prescreen tenants over the phone, I usually disqualify 50% of folks.

4. Set up appointments if they qualify

5. Take an application (This is where I am having a lot of issues. Folks don’t want to do the online ap but they also don’t want to pay me directly for a paper ap.) My problem could be that folks just don’t like the property, not sure on why no aps.

6. Check references

7. Sign lease.

Concerns I have;

1.People want to know on the spot if I will approve them, don’t want to spend $40-80 on an ap to get rejected.

2. The quality of tenant has been very very very low. This is a nicer place, I can’t bring myself to a sub 500 credit score applicant.

3. Folks don’t see me as that credible. I am relatively young (30) and own a good size (12 unit) complex. I know many of you will say that doesn’t matter but you probably have little experience with being 18-30 and begging for loans, tenants, and agents to take you seriously... Should I just change it up and be the “Property Manager” and have folks think that daddy owns it?

4. I hate driving the 1 1/2 hours (round trip) to show the place. What do you do to cut down your showings? Have folks look in the windows? Bluetooth key?

I am honestly looking to change and improve the process. Any suggestions would be great!!!