Today I worked with owners who are not being as demanding as they should be with prospective tenants. They send a tenant screening application and the tenant does not fill it out. They go ahead and send them a lease anyway. The tenant does not sign the lease. Then the let the maintenance guy give them a key to move in.......and find out that they not only have not paid rent but that all automated scheduled rent payments were canceled in their tenant account. It is so very important to run your rental business like a business...use good solid software to automate your repetitive tasks and be unyielding with required paperwork and docs. I recommend that no lease even be considered until a tenant screening report has been received. 1st come 1st served. And remember that desperation to rent a vacancy will bring the wrong kind of tenant to your door. Property management software is your best friend. Use it in the designated sequence. Keep your properties in good order and you will profit from the experience. Sorry if I sounded too lectur--y but it is hard to see someone lose money and time....well you know.
Posted on: Wed, 05 Jun 2013 23:09:17 +0000
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