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Updated over 5 years ago on . Most recent reply

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123
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69
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Patrick M.
  • Wisconsin
69
Votes |
123
Posts

HELP! First time screening tenants

Patrick M.
  • Wisconsin
Posted
This is my first rental in a B/B+ 4bd/2.5ba area asking 2k rent. 2k deposit.  Pet friendly.  No evictions. No felonies. Owner pays trash, water, utilities. Responsible for mow and snow.

Using mysmartmove to screen.

I've been getting some showings and taking phone calls of interested parties.  So far my first showing the people gave off a weird vibe..they didn't ask for an app and I didn't offer.  Boyfriend and girlfriend just moved to area. She has a kid and he has 3.

2nd party is two sisters and their elderly mom.  Very nice people.  Seemed genuine.  Have been 7 year tenants at their current place but owner is selling.  She's been very upfront and mentioned a bankruptcy a while back.  (didn't specify how long ago).  Emailed her an app.  And will need to get one from the sister as well.

Another party is boyfriend selling the house nearby.  He has 2 kids.  Girlfriend doesn't have any.  Seemed ok on the phone but gave me the line "we've already applied a few places and they were a little small for us but we've passed all the background checks and credit I just want you to know we're qualified"  I'll still run their information if they take an app but that line gave me a bad vibe.

TLDR: I expected a lot more married couples or individuals to apply.  What is the best way to handle multiple adults with no real legal obligation to each other when screening?  My biggest concern: the combined income they qualify (3x rent) but individually they don't and a breakup means big time problems collecting rent.  

Most Popular Reply

User Stats

17
Posts
21
Votes
Chris Anderson
  • Rental Property Investor
  • Las Vegas, NV
21
Votes |
17
Posts
Chris Anderson
  • Rental Property Investor
  • Las Vegas, NV
Replied

@Patrick M.
My wife and I have always only taken security deposit and 1 month's rent.  Granted, we probably could and should take more.  A lot of tenants are waiting to get their security deposit back from the previous tenant. We believe the quality tenant always makes the best tenant.  I would even rather get $100-$150 less a month if it means the right tenant takes care of things and never needs you because they are responsible to fix things on their own. That being said, the two musts are call their references (employment and landlords).  Never rely on the current landlord who a lot of times is happy to see them leave so they will tell you what you want to hear just to get them out. Go back 2 landlords.....you want to speak to that one who is not in the picture anymore and can be really honest. Secondly, go back 2 employers as well!!!  And with both employers, don't just verify that they work there and if what they say they make is true.  Ask them questions like, do they show up to work on time, how do they interact with their co-workers, do they finish tasks, are they responsible? I always look at tenants this way, if you don't trust them to drive your car without you in it, why in the world would you let them have the rights to live in your 100K, 200k, 300k, etc. house? I like what @Joe Splitrock said, never try to justify the wrong applicant. We always like to meet people at the showings and get a feel for them.  We then hand them applications based on the energy regarding really liking the house.  We ask them to take it home, fill it out, and email it back ASAP if they want the be considered.  That is our little test. The ones who really want it and are best for the house will have it in my inbox guaranteed within 2 hours.   We did interviews this past weekend and found our tenant that first day....even though others were qualified.  We are always looking for that relationship between landlord and tenant because we want someone who wants to nest and also knows that we are there for them as well.  I think the biggest decision to make regarding a tenant is not so much what you see on paper or who you see in front of you.  It is what you cannot see....that is where you want to reduce any liabilities. Be a great landlord Patrick and be a blessing to others!

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