Hi Prospects & Friends!
When managing properties we all tend to think the applicant we approve will always work out, but sometimes this isn't the case. I have been managing properties since 2003, and the key things I've learned for discovering good tenants long-term are to just pre-qualify them before you even allow the application to be done. What I mean by this is ask some general questions, for instance like;
- Why Are You Moving?
- Is Your Rent Going up?
These are just a few of the questions I ask, but if you're really savvy you can decipher deeper into these questions on a psychological level and possibly conclude;
- Why Are you Moving? (Hopping from place to place if not showing stability at any of their other places lived at)
- Is Your Rent Going Up? (Rent hopping meaning their rent pattern shows downward spiral then a spike then process repeats)
Analyzing deeper into pre-qualifying the possible candidate will land you better to a better qualified long-term tenant. Always ask yourself "Well if their moving because rent is being raised, why would they stay with me when I raise rent"? If you can answer this question very quickly then you have an idea you have a "Rent Hopper" and can you handle these kinds of candidates on a temp basis, or will you just move on an let someone else rent to them, while you continue to search for your long-term tenant? Everyone is different, but with me and from my experiences I prefer long-term tenants, 3+ years and the best way to retrain them is to pre-screen your candidates with pre-qualifying questions, so that way the tenant isn't wasting money on your application fees, and your not wasting time losing out on the candidate you seek by them renting somewhere else. So inconclusion I will share a quick skit giving you an idea how this may work;
Candidate- Hi I saw your ad & I'm interested in viewing your place
Landlord- Hi just a real quick question "Are you currently renting right now"?
Candidate- Yes
Now right when the candidate says "yes" this is when you apply your "pre-screening" questions & doing this will eliminate 100% of any issues that maybe heard during this conversing, and then either you and the candidate will either move forward or not. Even if candidate says "No" it doesn't matter what they say, its how they answer the question that will lead you to the level of the conversing you can analyze deeper, and proceed with your next technique pre-screening them. The phone conversing has to be done real quick or you will lose the candidates interest. So know what your going to ask them before they answer your question, key is to make it;
Quick
Simple
Pleasant
All your pre-screening techniques should be adequate coupled with etiquette.
