All Forum Posts by: Nick Peraino

Thanks for the input everyone.  The qualification questionnaire was the missing ingredient.  I have setup email auto responders with my questionnaire so any emails I get from Zillow, immediately receive the questionnaire.  This is saving me a lot of time.  Most of them don't come back.  The ones that have have looked pretty good have led to showings.  I have 2 applications in that seem promising at this point.  

Having the questionnaire step in place is crucial and eliminates the need to WAIT on a decision.

How do you all accept your rental application fees?  As of now I plan on having them go to the bank and make a deposit in my business account.  Any reason NOT to use Venmo for this?

How do you all accept your rental application fees?

Thanks Anna and do you find that MOST of the inquiries are tire kickers or folks that know they won't qualify once they read the questionnaire?  I've had probably 80 inquiries and only 1 questionnaire returned. 

Michael and Anna thanks for the input.  Yes I quickly changed my approach and have been sending every interested party a questionnaire to fill out, along with my qualifications standards... before even scheduling a viewing.  That has already proved to reduce a lot of further inquiry.  Most, almost all, of the prospects don't even respond to the questionnaire.  Which tells me they either aren't truly interested anyway, or, they know they won't qualify.

I had a couple come by yesterday that seemed almost desperate, and were clearly lying to me, one would say something about the questionnaire, and the other would "correct" them.  This is an.... interesting business we're all in haha.

Do you all find that 49 out of 50 inquiries go away right when you send them your qualification standards?  Is this normal?

Thank you Christine.  My question is more based around someone that may not meet my credit score requirements, but everything else looks pretty good.  That is the type of prospect I may want to wait on approving or denying.  To see if someone else submits an application that has everything in line.

Great reply thanks for taking the time Patricia! 

Hey everyone,

I'm renting my first property and have been studying Brandon's book on rental management. I have most of my paperwork and process in place.

My question: 

Is it okay to collect and run applications, and then wait on accepting or denying until I feel I have the best prospect?  How do you all handle this?  I am expecting those that apply to be following up shortly thereafter to get an answer.  Would like to know the best ethics as well as responding to these followup inquiries. 

Thanks!

It's letting up! See y'all there.

This is an old thread. But yeah, experienced buyers will only need a walk thru.  And they are your partners in the deal.  This isn't a lie.  They technically are partnering with you.