Great Tenants are not hard to find if you know what to do. The biggest mistake we as landlords make when looking to fill a vacancy is allowing our gut feelings make the decision for us.
The process begins the minute we advertise. Once that phone starts ringing you should have a list next to your phone with your qualifications and questions that you're going to ask your prospect to verify if they even meet your criteria. This will save you a lot of time and headache. Why would you set up an appointment only to find out latter that your prospect does not afford the rent or they have pets and you do not allow pets.
The second step is to show your property. Set a day and time and have all your prospects show up at once, this will create more urgency for those that are interested in the property by them knowing that if they want the property and don't act quick they will lose out to one of the other applicants. The best day and time I found to work best is Sundays at about 1:00PM.
Once you've made your pick you are going to collect all of their information, making sure that every single document is the original and not a copy. Why not accept copies? you might ask, well, let me explain. With the internet and all the technology we have at our fingertips today, anyone can come up with a false document in seconds, I have seen this happen too often. Great Tenants will have no problem providing you with all the information you need.
Ok, now you have all of their information. You are now going to verify, verify and verify some more. Run a criminal, credit and eviction report. If you try to save a buck here it can cost you thousands of dollars down the road. This is where a lot of Landlords drop the ball.
Every minute of your time spent verifying the information given to you will pay for itself ten fold and you will be glad you did too.
These are just a few tips on finding great tenants. Follow this advise, and your business will prosper tremendously.
Author: Orlando Lebron
Helping Landlords and Landladies become more successful in their business through education. Get more tips on Great Tenants and how to find them at: http://www.landlordcontent.com
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