Sunday, April 02, 2006

Tips on First Contact by a Prospective Tenant

It's important to take control of a conversation the minute a prospective tenants calls your ad; don't wait for them to ask all the questions. Also, I found it saves a lot of time if you tell people up front that they will need to show income with 2 recent pay stubs (or 2 years tax return). Also mention that you call references and do a credit check. I find this eliminates some people (who you wouldn't want anyway) right off the bat -- remember, say the same thing to everyone that calls!
Another good question to ask is: "How long to you plan to live in this area?" You want to eliminate turnovers as much as possible. Nothing kills cashflow faster than a vacancy - not even a major repair.
Here are some more tips when scheduling an appointment to show the unit:
  • Make sure that everyone (even pets if allowed) shows up so that they can see it and you can meet all of them
  • Tell they need to confirm an hour vi aphone prior to the appointment otherwise you will not be there (this eliminates many no shows!)

Notes: I think I've mentioned this before but a person asks for a copy of their credit report ("I paid fer it, didn't I?") you cannot give it to them, it is illegal. Also, do not mention names of specific creditors. You can say "I see you have a late payment to one of your cards.", but not "I see Joe Smith has a judgement against you."

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