Picking A Tenant
Several days ago I advertised my first property in the paper. We went though several interviews. My problem is the very first person that walked through the door, (my first interviewee) seems to be the one. I'm on the fence because it was the first one. I have come so use to hearing "Don't go for the person you see". I ran a credit check, It's not perfect I also called his previous residence they said he was late twice never more then 30 days. I'm on the fence ,is that less that 30 days like 29 days.
The problem is my gut says this is the one. Compared to the people that was interview. which all had credit issues.
Can any one shed some thought better yet experience
if they didn't have credit issues...they would be buying.
has he been late many times with his other creditors, if he has he may be living beyond his means, has he had the same job for a while or is he transient,(cant hold a job), how lond does he stay in one place. And last but not least tell him you found out about the late rent and ask him about it.
John
Thanks Good People! You were very helpful,,,,,I will ask those questions..and hopefully he has the correct response
Sometimes the right person also happens to be the first person to show up. Just make sure you do a thorough check. Ask him about anything that sounds fishy. Do the same with the other potential tenants. In the end, when you've collected all the relevant info, it'll still be your gut that'll tell you which finalist is the right one for you. Good luck.
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Listen to the whispers and you won't have to hear the screams. - Cherokee saying[ Edited by alexlev on Date 03/30/2004 ]
Agree with most of the above post, however, I firmly believe that if they are late once it WILL happen again and again and again. Prior to me be being a homeowner I rented while in college and the service for alomst 12 years, all over the country - never late once! You can have bad credit and still pay your rent on time. It my tenants are late the paperworks starts 1 minute after midnight to get them out. My PM's let them know that right up front. It's your house and you need to make the decision. Just my 2 cents. Good luck.
His previous landlord might not have offered early payment incentives such as a $50 deduction if the rent is paid early. I would not package this as a late fee. But give the applicant the opportunity to be rewarded. There's nothing wrong if the first person is the right person just don't expect perfection.
Late twice over how much time? Late once a year by 10-20 days is fine by me, provided there is commnication; there usually is. You could always tell them how the eviction process works in your area and that you would never need it with someone as good as them but just so they know...wink wink.
[ Edited by Cliffrock on Date 03/30/2004 ][ Edited by Cliffrock on Date 03/30/2004 ]