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What Tenants Need to Bring to Showing.
by Don Conrad
Once you’ve decided how and when you’re going to show your rental, you need to make sure the prospect meets you at the rental with as much of their needed information as possible. You don’t want to make unnecessary trips showing the property if you can help it, and having all needed paperwork and information required by you at the time of the showing will go a long way toward preventing these extra trips.
On the Phone
When you have the prospect on the phone, either from your initial interview or when you call back to schedule a showing, you need to tell him or her this: “I’m going to ask you to bring some information to make the showing a success should you be interested in the unit. Please grab a pen and paper and write down the following.”
Tell them you’ll need the following, this is from each person who will sign the lease:
- Five personal references per adult, including names and phone numbers (I want to speak to at least three references, so I always ask for five. Parents, grandparents, and other relatives don’t count.)
- Past landlords’ names, addresses, and phone numbers
- Copy of their social security number or card
- Copy of current driver’s license or photo ID
- Recent pay stubs (I recommend asking for two months’ worth.)
- Solid verification of other income source, such as alimony check stubs, regular pension or government support check stubs, and so forth (You want concrete proof that they have solid, reliable income. Have them show you proof for at least two recent, consecutive months. This is a must, because you don’t want to be chasing government agencies on the phone trying to verify this information.
- If self-employed, a copy of last two years’ tax returns and three to six months of bank statements.
- One or two current utility bills with their present address on it (optional)
- One other source of ID or credit card (optional)
- Bank name and phone number (You might want this to verify they have an active account. This may also be optional. Some landlords want bank account numbers, but with the increased identity theft, tenant prospects are more reluctant to give that out. I don’t blame them. I wouldn’t give out any account information, either, but you can ask.)
- Cash for their credit check (If you are charging a deposit to hold the property, at the showing would be the time to collect that. If your rental market is extremely hot, I would think about collecting a healthy deposit to hold a unit.)
- Any other bits of information you require not mentioned here.
Give directions
Once this list is given and verified as understood by the prospect, set the appointment time. Give precise directions, including north, south, east and west, notable streets, and easy-to-locate landmarks on how to get there. Remember that not all people are good with compass type of directions, so include left and right turns, number of stoplights or signs, and approximate mileage between these streets and landmarks. If you can’t do this properly, drive to your unit from all possible directions and write a complete set of directions down. (you could get your directions off Map Quest although it won’t have landmarks designated). You should keep this set of directions in your file of paperwork on that rental so you have them for future reference. Don’t lose a great prospect because you gave poor directions.
Before you end the call
As you conclude your call, again give them a precise meeting time and your cell phone number. Have them repeat what they need to bring, the complete directions, the time of your appointment and your cell number. Ask them to call you 30 minutes ahead of their scheduled time—or whatever time you need before you leave you house—if they are going to be late or not show up at all.
And last but not least, let them know they will need all parties present who will be making the decision on renting. Also let them know to plan for about 45 minutes for the showing and to fill out paperwork if they like the rental.
Unless you live within walking distance of the rental you are showing, I advise you to use these techniques. You’ll be glad you did.
(For more tips on showins, visit the articles page on my website at http://www.findthatqualitytenant.com).
Read more landlording and real estate investment articles
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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
www.findthatqualitytenant.com
e-mail: donconrad@findthatqualitytenant.com
phone: 1-888-452-0765
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Tip of the Month
August 2008 |
Discrimination is a serious issue. As you are looking for quality tenants, it is important to keep away from issues protected by the Fair Housing Laws. Under the Fair Housing Act it is illegal to refuse to rent to someone based on their race, color, creed, national origin, religion, sex, family status, or disabilities. Absolutely stay away from these issues when searching for tenants. I can tell you for a fact, none of these issues are determining factors on your tenant being a "good tenant" or a "bad tenant".
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