Be Ready to Answer These Questions from Potential Tenants

As a real estate investor, it’s your job to ask a lot of questions. Questions about properties, questions to lenders, questions to prospective tenants - gathering this information and more is the only way to know that you’re making smart choices with your investments.

But how are you when the tables are turned and YOU’RE the one being asked all the questions? Specifically, are you prepared to handle the questions you’ll get from potential tenants when they’re considering renting your property?

Here are some of the questions you can expect to field when showing your place:

1. “How much notice do you provide before stopping by for maintenance or other reasons?” (Hint: if you say, “Oh, at least a couple of hours,” people will not like you. You need to provide at least a day’s notice.)
2. “Who can I call in case their is a maintenance emergency at 2 a.m.?” Because, as a rule, all maintenance emergencies happen in the middle of the night.
3. “How do I submit a maintenance request? How long does it take someone to respond?” Yes, there will be lots of maintenance-related questions, because this will be one of the few times they are likely to interact with you. You need to be able to provide answers, too.
4. “How’s the water pressure?” They will test this one, too, so be ready for all your faucets and shower to be turned on.
5. “Is the neighborhood quiet?” Some tenants will also want to investigate this by driving by at a later time, so make sure you’re upfront about any noise issues.
6. “What internet service options are here?” If your target demographic is millennials, you can really wow them with this one. Several providers offering great coverage will make them swoon. Along these same lines, good cell phone reception is huge.
7. “How much experience do you have as a landlord?” More experience is usually better, but if you’re a new investor, that’s okay. Just be honest and friendly with them (without appearing like a doormat; remember, you’re in charge here).
8. “About how much will utilities be?” Obviously, this is going to vary depending on the tenant’s usage, but being able to provide a ballpark will help them make a more informed decision.
9. “What sort of responsibilities do I have as a tenant?” This is a good question, and if you expect certain things of them, such as mowing the grass or dealing with minor maintenance issues, it all needs to be spelled out in the rental agreement.
10. “Do you have contact info for any previous tenants?” Not every tenant is going to ask for this, but some might. If you can provide a good reference or two, it can go a long way in helping you secure a lease.

These are just a few of the questions that may be posed during a meeting between you and a potential tenant. The better prepared you are with answers, the better off you’ll be. Be honest, be open, and it will help put their mind at ease and hopefully lead to a signed lease. Of course, if you’ve taken the turnkey route, your property manager will be the one fielding these questions. However, as the owner, it’s your job to ensure that your manager is not only capable, but ready to put on a good showing when meeting with prospective renters.