General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
I'm having trouble renting a single unit of a duplex
Good Morning BP'ers,
I have a question on how to find a good renter for a unit we are having trouble with. We've recently purchased a new property which is beautiful. The interior is very nice as well as the exterior. We've already found a renter for one side at a very good rate for the area, but we've yet to find a qualified renter for the other. Here are some of the requirements that we've been asking for that worked for our other property, and for the other side of the unit, but I believe should be modified.
1. First months rent as a deposit.
2. No evictions (I wont be changing this at the recommendation of just about every landlord)
3. Two times the amount of income monthly over the cost of rent
4. $25 application fee for a background check
5. Character references and one from the previous landlord
I'm not 100% sure what class the area would be, but the general rent in the area runs about $550-600 for non-section 8 properties. So far the only applicants we've had have large debts, too low of income, wanting section 8 or want multiple pets. We've put the property on Zillow, the news paper, Craig's list, a for rent sign and are now putting up fliers without the address for people to call to see it. What can we do to help find someone without sacrificing the securities that prevent us from losing money in the end with a bad tenant.
Thank you