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Don’t Miss an Important Component to Screening New Tenants!
Wed 12/23/09 08:01:56 pm
by Bill Gray

screeningA vital part of tenant screening requires more than learning about applicants, their employment and credit history—it’s learning everything you can about their previous rental history. Yes, former landlords who have rented to this tenant before have a wealth of information which should be weighed carefully before you approve an application.
 
Think about it. For six months or six years, former landlords have received or not received payments from your applicant. They know how the tenant left the property and about any complaints made when they leased it.  Their file and recollection can provide you with more insight than you’ll find by calling employers or ordering a credit report.
 
Start with the end in mind and weed out any applicants who might not treat your property with a gentle, kind, and caring hand. Was their former landlord impressed with the condition and cleanliness of the property when the tenant moved out?  Or were they overwhelmed and disappointed with the lack of attention and personal consideration they showed by leaving the unit a mess?
 
Screening former landlords can reveal much more, though, and the information you gain is worthy of your time. Does the tenant have a history of short-term housing, indicating problems with payment or other terms of the lease? Was the tenant a nuisance to other tenants? Did the tenant honestly disclose past information to previous landlords, and did that information hold true?
 
I should note here that all applicants are not Honest Abe.  Dishonest applicants know that telling the truth on applications could hurt their chances of being
 
accepted—as it very well should.  So, they come prepared, armed with a list of references, addresses and phone numbers—of imposters. I’ve seen Make the callscases where tenants provide false names or contact information for previous landlords, steering potential landlords to friends or family members who agree to aid and abet them in their quest for housing. For that reason, you might want to ask more specific questions—like how many units do you have, please verify the applicant’s social security number so I know we are talking about the same person, and can I have the name and address of another tenant so I can ask them for a written reference for this tenant.
 
By asking more questions, you’ll be able to do a better job of determining whether this landlord is legitimate—or not. In addition, be aware of legitimate landlords who will tell you exactly what you want to hear because they will do anything, including lie about a tenant’s past, just to get rid of them. So, suffice it to say that while screening should include interviewing former landlords, it should be considered just one piece of the whole and weighed accordingly.
 
The American Apartment Owners Association www.aaoa.com recommends landlords ask these questions when talking with the current or previous landlord:
 
1.            What was the tenant’s payment history?
 
2.            Did the tenant give sufficient notice according to the lease?
 
3.            Did the tenant fulfill all of the terms of the lease?
 
4.            Did the tenant give a reason for moving?
 
5.            Were there any complaints from neighbors about the tenant?
 
6.            Would you rent to this tenant again?
 
Most landlords stick together, understanding the difficulties and headaches caused by bad tenants. If you’re lucky enough to contact one who is willing to honestly divulge information, you’re a step ahead of the game. Their glimpse into the tenant’s past can play a vital role in helping you to determine whether a tenant will pay their rent on time, fulfill the terms of their lease, and take proper care of your property.
 
It is worth the extra effort to screen applicants, and just as important to screen their former landlords. When you do, you can save yourself a lot of time, effort, money, and elbow grease when you part ways.
 
Email me with your tenant screening questions.
 
 
Bill Gray
 
 

Post and Read Comments about Don’t Miss an Important Component to Screening New Tenants!

How To Buy, Sell & Finance
Used Manufactured Homes
For BIG Profits &Cash Flow

Eight hours of tapes and a workbook !

 

By: Lonnie Scruggs, Author of the best selling books:

Deals On Wheels , Making Money With Mobile Homes &

Taking The Mystery Out Of Money


Have you been looking for that ray of light in the current economic climate ?

This is a complete and comprehensive course with everything you will need to start making 50% to 70% to 100% and more in one of the best money-making businesses anywhere! You will get facts, figures, case histories and copies of all forms: Purchase Agreements, Sales Agreements, Promissory Notes, Credit Applications and more.

This is the CASH COW you've been looking for. You get absolutely everything you need to get started making awesome returns and a constant cash flow, including:

  • How to quit that job and become financially secure with notes.
  • Why manufactured homes can be the best money makers.
  • How to negotiate the purchase price and sales price.
  • How to structure the note for the highest yields.
  • The two most important words you can use in negotiations.
  • How to start in your spare time with little or no money.
  • How to do a little work one time and get a check for years.
  • How to eliminate tenants, management, maintenance and still get a check.
  • How to recover ALL your money in 12 to 15 months.
  • How to do just one deal a month and make more than your full-time job pays.
  • How to buy manufactured home notes for spectacular yields.

You Get 8 CDs (7 Hours Of Audio By Lonnie) And The Print Manual

Plus A CD With All Of Lonnie's Forms & Contracts

Plus A Bonus Audio CD Of One Of Lonnie's Mobile Home Workshops

Who is Lonnie Scruggs?

Lonnie Scruggs was born and raised in Virginia. For 35 years he owned, rented, managed and maintained his own rental properties. When he became a burned out landlord he started selling off his properties and buying discounted notes. When it became difficult to find good notes to buy, Lonnie found a way to "make" h is own with mobile homes.

Here are just a few of the many written letters and testimonials Lonnie has received from folks around the country:

I've been in the business for three months now and in that time I've done seven mobile home deals, most of which are yielding in excess of 100% returns.
---T.B., Beloit, WI
I purchased your book about a year ago and since then I've done 32 mobile home deals in the Houston area.
---G.M., Houston, TX
Enclosed is my check for Making Money With Mobile Homes. Also, thank you for the $5,000 I made last month from your first book.
---T.P., Corning, NY
On March 20th we purchased your book and on April 28th purchased our first mobile home. We sold it 17 days later at a profit of $5,030. As of today, we have bought 14 mobile homes and sold 12 and made money on all of them.
---M.K., Scottsdale, AZ
I've been doing "Lonnie" deals locally and they are working out pretty good. The deal I closed yesterday was a 10 x 50, 2/1 in an old park near where we live. We bought it for $3,000 and in two days sold it for $6,500 with $2,000 down. We took back a note for $4,500, 12.75% interest, 36 payments of $151.06. My yield = GOOD ENOUGH, as you say.
---R.M., Glendeden Beach, OR
Lonnie, I got your second book today and got so excited (again) that I just had to share this with you. We just bought a mobile home here in our park for $3,000 and sold it in a couple of days for $8,500. Got $3,000 down and have a note for $5,500 payable $230 / month for 30 months. Thanks again....
---D.O., Santa Fe, NM
If you are looking for a way to make some serious money, with manufactured housing, you can't be without this course. Dont let the current economic slump effect your earning power. Learn Lonnie's techniques and strategies and join in on the smartest money-making opportunity available in todays markets!

Other Items from Lonnie Scruggs


  • MULTIPLE
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    LAKESIDE REMODELED
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    Click to learn more...
    HOBBYIST'S DELIGHT!
    MESA ARIZONA


    Click to learn more...
    WATERFONT + DOCK!
    NORTH PORT FL


    Click to learn more...
    FAMILY HOME
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    Click to learn more...
    2/2 + 2 CAR GARAGE
    CATHEDRAL CITY CA


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    MINT CONDITION
    FALLING WATERS AL



    FREE BUSINESS LISTINGS



     



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