Getting Tenants In The Door

[Nick Thompson]

Hi All,

I've been a fan of this site for awhile now, but this is my first time posting on here. Looking to get some helpful advice on getting tenants in the door and advertising our property.

I just graduated from college back in May and recently bought my first investment property in Aurora, CO along with two of my friends. It is a single family condo. We closed last week, and since then have listed it on Zillow, Trulia, HotPads, Apartments.com, and FB marketplace. While we are getting a decent amount of interest on it, we can't seem to convert anything into a meaningful lead.

So far our process has been to send prospective tenants our pre-screening requirements after they show initial interest in the property. If they meet those requirements, then we plan on encouraging them to fill out an application. The problem we are facing is that nobody is responding to these pre-screening questions, or if they do, they don't meet all of our requirements. Are we being too tough with our pre-screening questions? Or should we stick to them and wait it out to find the best tenant possible. Also, open to any other ideas or places where we can best advertise our property! Appreciate any advice you may have!

For reference, these are our pre-screening requirements:

• What is your current job and how long have you worked there?
  • Must show proof of ability to maintain stable employment (2+ years ideal)
• What is your Gross monthly income
  • Must be 3x of rent ($4,500)
• What is your estimated credit score
  • Minimum of 620
• Do you smoke
  • Must be no
• Are you willing and able to do a 12 month lease
  • Flexible here but ideally yes
• Have you had any prior evictions?
  • Must be no
• Have you ever filed for bankruptcy?
  • No to Ch. 7
  • Would potentially consider Ch.13
• How long have you been at your previous residence and why are you planning on moving?
  • Looking for stable rental history

Thank you!