tenant screening ..cheer me up? - Landlord Forum thread 270240

tenant screening ..cheer me up? by sadlandlord (ca) on November 6, 2012 @01:56

Any encouraging words for a landlord having a he'll of a time finding new tenants? The screening process is starting to wear on me and I'm going on 2 months vacant.. pity party for me tonight.

Had to deny an application tonight, appointment for tomorrow canceled and everyone keeps asking if I can "work with them" on the security deposit..

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Re: tenant screening ..cheer me up? by Anonymous on November 6, 2012 @02:59	[ Reply ]

I'm in the same boat, here in Cali. Hold fast to your screening procedures and hold out for a tenant applicant who meets your standards (not a guarantee of a good tenant, but better than folks who want you to work with them!!!). Taking anyone who is breathing is questionable, taking unqualified people is a problem waiting to happen...anything else, other than people you've screened carefully, is borrowing trouble.

Re: tenant screening ..cheer me up? by Katiekate (New York) on November 6, 2012 @07:39	[ Reply ]

Lower your rent if you must. Look for a new market. Is there a college or university nearby? Look to get your place listed with the campus and the student union. Consider working out a deal with someone who have 760+ credit. You know they aren't going to mess that up.

Re: tenant screening ..cheer me up? by Shaun (FL) on November 6, 2012 @08:27	[ Reply ]

KatieKate is correct.Reduce your price by $5-15 dollars a month. It will make a difference. Earlier this year I had a property on the market, got a signed lease, last minute renter backed out. So I had to re-advertise. People shopping didn't know that technically it had been off the market, yadda, yadda... So I reduced the price $5.00 a month, advertised as JUST REDUCED!!!!! I had line of apps. Rented in 15 days.

Re: tenant screening ..cheer me up? by Micah on November 6, 2012 @09:00	[ Reply ]

I haven't had any problems finding tenants in Maine, but I really have the upper-hand in my market/price range for the fact that I am an onsite LL and people up here appreciate that. It means that I am in the same boat when it comes to real issues like heat, water, pests, etc... I've been increasing my rents each time I get a vacancy. I prefer to have a big open house with prescreened applicants lined up 10 minutes apart. I just use the LPA Prescreening card questions on a Craigslist ad. This way if I have a no-show it's no big deal and I still have plenty of other people. It also helps with the sense of urgency to apply. They see people coming and going, everyone filling out apps when they come in... Honestly, my places are not the prettiest, but up here free heat and good customer service in an apartment building go a very long way in this SFH saturated market. There are a lot of places with cheaper rent, but they are all owned by accidental LLs who are upside-down in their mortgages and can't afford the upkeep on their properties. I also build in extras into the rent like free renters insurance (it only costs me 11 bucks a month and it guarantees me that they have it!). I've said it before, and it really depends on your market, but you may want to consider raising the asking price. Some people, especially those with money, have a set proce in their head and if yours is too low then they will just pass it over.

Re: tenant screening ..cheer me up? by Anonymous on November 6, 2012 @11:58	[ Reply ]

Just hang in there and continue to screen. Last fall, I had many people look at the rental - but not one qualified applicant. Unless of course I wanted 2 big dogs (no they are always outside) and a ferret.. What's not to understand when the ad states No Pets. Fast forward to this summer, I increased the rent and included lawn care in the rent. I prescreened and only showed a few times. I finally eliminated the lawn mowing and lowered the rent and we signed the lease. Prescreening cuts down on the wasted showings...

Re: tenant screening ..cheer me up? by Anonymous on November 6, 2012 @12:53	[ Reply ]

I just finished the make ready work on my SFH here in the South. The tenant moved out a month ago (military change of stations)and since I have three other jobs it took me thirty days to bring the place back into "glove clean" state. I advertise on AHRN and Craig's List along with two signs, one on a main street. I have had 88 separate discreet inquiries. Many listen to my special voicemail and apparently determine it is not within their budget. Of the few people who have complied with my request to send me the answers to the tenant (LPA pre-screening) questions, NO ONE has had a credit score of even 700. They range from 532 to about 650. I am hoping I can find at least a few with above 700 FICO scores. My written criteria state 675 as minimum. As Micah states I too have gradually raised my rent after each tenant, just $25.00. Since I have not heard from anyone with a FICO score of 700+ the price increase is irrelevant. I NEVER do a showing unless I have carefully pre-screened the tenant in advance.

Re: tenant screening ..cheer me up? by Fred (MN) on November 6, 2012 @20:55	[ Reply ]

Here's some words of encouragement. You're better off with an empty rental for 6+ months than a full rental with a bad tenant. I know this first hand, cost me several thousand. Here's a few things to consider. Check out the rent prices for similar prop's in your 'hood. You should be in the same range. More encouragement. It's painful to turn people away, but you're definitely doing it right to never negotiate. NEVER. You do that, and I can guarantee you have a bad tenant coming on board.