Closed on my first 3 unit!

[Chris Bisaillon]

So it's official, I've closed on my first 3 unit about a month ago in RI. 2 of the units are already rented. Did some painting and light work to the 3rd. Have it listed and looking for potential tenants now. Finding good tenants is tough. Have it listed w Tellus & Cozy. No one wants to go through the application and screening process. Had a good number of inquiry. If anyone has some advice that would be great. Thanks.

[Will Fraser]

HI @Chris Bisaillon!  Congratulations on the purchase and the journey you've begun!  I find most of my tenants on Zillow (via Zillow Rental Manager) and I have found, like @Brandon Turner says in The Book on Managing Rental Properties, the more specific and clear you are about your minimum qualifying standards, the less time you'll be wasting dealing with bad applicants.  Be sure to know what you'll require in your unit, and then make those requirements clear in the listing.

Be sure to follow all Equal Housing and anti-discrimination laws carefully, and within those bounds be as clear as possible, like "No smoking, minimum credit score of X, income must be Y" and so on.

Good luck on the road!

[Douglas Montgomery]

Congrats on your purchase @Chris Bisaillon. I second what @Will Fraser says completely. I have found that using turbotenant.com and Facebook marketplace works well in my area.  The more people you appeal to the better your chance of finding the best qualified tenant. I just finished @Brandon Turner's book on managing rentals and its a must read for new landlords.

[Cameron Tope]

@Chris Bisaillon I think you have all the advice you need from @Will Fraser & @Douglas Montgomery. Market everywhere!

I used a lease agent when I started, which helped me with the process and understanding tenants, qualifications, etc. @Brandon Turner's book is definitely a must read. 

Are you currently using a lease agent? If not, why? They can be a huge asset for you starting out and they cost you nothing if you find a tenant. 

Best of luck and congrats on the 3-unit!

[Chris Bisaillon]

@Douglas Montgomery Thanks I'm on a bunch of platforms. I've read that book several times. Definitely helps.

[Andrew Syrios]

Great job Chris!

[Bob Prisco]

@Chris Bisaillon go with govt tenants,  now buy more