 |
"How to Find That Quality Tenant" Only
Learn More |
Teaching Landlords to Find Their Quality Tenant! |
|
Why HaveTenant Qualifications?by Don Conrad After you fix up your rental unit, you need someone to occupy that property, pay rent on time, and hopefully keep it in the condition it’s currently in. This someone has to be a special someone, so you need criteria to help you recognize when you’ve found that person or persons. I can tell you from experience that when the phone starts to ring, you will get all kinds of prospective tenants with varying lifestyle habits and problems. Many of these callers you will not want or need to have as your tenant. Those callers need to be eliminated at the beginning of the rental process. This leads us to the all-important question: How do you eliminate these callers that could potentially cause you problems? The answer can be both simple and complex. The simple part is you interview the caller to see if he or she meets the standards you want for a tenant. The complex part is developing those standards. So, what do we mean by standards? Standards are the minimum criteria or qualifications that we expect from of our tenants to qualify for the dwelling. These qualifications cover the major topics of concern for landlords. Topics such as income, credit, pets, rent and job stability, evictions, and convicted felonies are generally the main ones to consider. The reason you as a landlord, want preset qualifications is because it is too easy to make the major mistakes in qualifying perspective tenants. Here's generally what happens: a landlord advertises a property and when the calls started coming in, he or she immediately runs out to show the property. This landlord knows absolutely nothing about the caller, what they want, what they need, or what they can afford, let alone anything about their past performance as a renter. Many times the landlord gets to the property and the tenant caller never shows up, or if they do show up, they are wrong for the property or the property is wrong for them. The landlord turns around to drive back home again, then as soon as he or she gets back, the phone rings, and the process begins all over again. And so it goes, back and forth, back and forth, wasting time, wasting gas and getting frustrated. Kind of like a hamster running in a wheel. Then what happens is someone will show up and want the rental so out of pure frustration and fatigue, the landlord will accept them as their tenant. Unfortunately, I know many landlords who find their tenants this way each and every time. By having qualifications preset and written down, you can interview any tenant prospects over the phone and eliminate the ones that do not fit your preset qualifications. This will keep two things from happening.
By having good written qualifications in place before the phone starts to ring you will know what you are looking for in a tenant. Therefore you will be able to eliminate any and all callers who do not fit your needs, over the phone, without having to meet them at the dwelling. This will save you a lot of time and undue frustration.
It's actually this second reason that makes preset written qualifications for your tenants a worthwhile goal. Many times landlords are in a hurry to rent their empty rentals to cover that lost rent and so they often take the first warm body that comes along. Often times these prospects are not what landlord needs to be profitable in his business. In my book and that, “How To Find That Quality Tenant”(available on my website at http://www.findthatqualitytenant.com), I speak in great detail about a form designed to access tenant qualifications. The main purpose of the form is to help you, as the landlord, develop the qualifications you’re looking for in a tenant This form a will prepare you for when you begin speaking to tenant prospects. You fill out the form then use these qualifications as your guide and reference as you speak to and interview all perspective tenants. When speaking to a tenant prospect, this form acts as your compass in your interviewing process to keep you on course to find a quality tenant. Failure to meet a qualification will eliminate the tenant prospect, and allowing you to move on to the next caller. The Tenant Qualification form and its correct use can vastly improve your chances of finding good tenants. By having and using preset qualifications, a landlord can make a better choice in their tenant selection and read the rewards of good quality tenant for the duration of their stay. I’ve been using this form for years and I can say with confidence it has made my tenant selection task a lot easier. To access this form, visit my website at www.findthatqualitytenant.com. Read more landlording and real estate investment articles _______________ If you would like further infomation on this topic, please purchase my book "How to Find That Quality Tenant". Ask your locale bookstore or see my website at :www.findthatqualitytenant.com I am not a lawyer, therefore, if you have any legal concerns with anything in this article, please contact the appropriate legal counsel. The above article may be reproduced without my permission under the following conditions: author name, website, and contact information must accompany article and be prominently displayed, and the article must be reproduced in it's entirety. Thank You. Don Conrad Copyright 2006 Blue Collar Publishers
|
|
|||||||||||||||
| © 2006-2008 Blue Collar Publishers |