Thank you all for the responses! Just needed a little positive reinforcement. I totally agree that I need to separate my emotions and look at it strictly from a business standpoint, especially if I want to successfully grow and scale a rental business. The fact that I am younger (26) and a female, I feel that this plays a part in the emotions side of things. I feel somewhat awkward when I am showing this property to people older then myself and asking them to show me proof of their income, etc. But I know a thorough screening must be done, and this is all just part of a learning experience.
On top of that, this was our home for 2 years before we turned it into a rental, so I have a stronger emotional attachment to it then to a property I never lived in. I also have this mind frame of feeling like the tenants are doing me a favor by living there and paying what I perceive to be a "high" rent. The rent is market rent that matches all other homes in the area. But since I myself have never rented, I am having difficulty getting past the psychology of everything. Again, I am probably delving way to deep into things, but as a newbie I am hoping it's just part of the learning process.
Lastly, do you ever offer to refund/ deduct the application fees once everything checks out and they sign a lease, etc? Obviously if they are denied, the fees are non refundable, but I was thinking of offering to credit them the fees off the first months rent.
@Fred Heller @Nathan Miller @Account Closed
