First Time Landlord - Possible Tenants

[Adam Perez]

Hello All,

About a year ago I purchased my first home. It was in terrible shape but the price reflected that and we enjoyed spending the 4 months completely remodeling it.

Fast forward to today, we are moving to a new home because of a baby on the way but felt it would be a much better investment to rent it out as with the current market, we’ll make some nice profit.  This was not are original plan but it worked out that way. 

I’ve had the listing now for just under 2 weeks and have had 6-7 showings and 10-12 people reach out to me, some were sent video tours as they were out of town. The price is definitely on the higher end but this was with the guide of a realtor friend who knows the area. Also with the 6-7 showings, no one has brought up price. 

The only issue I have picked up on is that some felt it was smaller than in the pictures. I’ll agree the pictures were professionally taken by my wife, and they look amazing. Could these pictures possibly be drawing in people with higher expectations and then have them disappointed when actually touring?

We also are currently showing the place with our furniture, see below listing. Would we be better off taking it all out? Some have actually asked if it was staged, our thought process was it would give an idea to others on how to make use of the small space.

And finally, what should my follow up process be? We have an HOA so I've been handing out that application and telling them to get it back to me right away. I haven't had anyone sign it in person as thats something I myself would ever do. Most will tell me they'll have it next day and then after a follow up, they've changed their mind. I have even told some that if they return it same day, I'll take the $100 hoa fee of first months rent but no bites.

Here’s the listing. Any suggestions would be greatly appreciated.

https://www.zillow.com/homedetails/3032-Center-St-Miami-FL-33133/43862383_zpid/

[Frank Wong]

@Brian Ellis  

Yup!  Lots of people will say they are interested but they are just being nice.  I pre-screen the potential renter before they even see the house.  I don't even want to waste my time and have the house shown if they won't qualify.  

1. I go over the basic terms of the lease. Month rent and deposit requirement.

2. Go over tenant responsibility. In my case, I have them responsible for maintaining the front and backyard.  (These are SFRS)

3. Let them know there will be an application and also need their credit pulled. Will need to see pay stubs, tax returns, and bank statements. 

Then I say will this work for you?  Lots will say I'll get back to you which means NOPE.  No is a good answer, we want Yes and No answers that will save you time.