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SUCCESS OBJECTIVES
MAXIMIZE CASH * RAISE VALUE * REDUCE
RISK/STRESS
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THESE IMPORTANT GOALS ARE ACCOMPLISHED BY PROVIDING
THE FOLLOWING SERVICES:
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Leasing
& Tenant Retention
Screen, Interview and Select New Tenants: We
do the best we can through the interview process and accumulation
of rental and credit history to make a judgment as to the character
of the tenant. That's what you are really renting to. There
is one constant in the universe and the rental industry as well,
and that is "change". Nothing is more constant than
"change". Our goal is to guess how a tenant will cope
with the changes that happen in their lives and how their attitude
will effect your property and investment.
You may find this hard to believe, but not all tenants tell
the truth. Oh, and by the way, many landlords have been known
to twist the truth as well, especially if they want to get rid
of a problem tenant. Probably the single most important asset
we bring to an owner, when it comes to selecting a tenant is
experience. Yes, we do credit checks, verify their employment,
and check with their previous landlord. But, what's more important,
is knowing how to read and interpret all the information you
have received from completing this process to determine a renters
character. The problem most new owners have with this process
is relying to heavily on a tenants past performance, whether
good or bad and not "reading" it. As an example, someone
with a couple of pages of bad credit due to a bankruptcy, may
be a great risk and a good tenant. Remember, they had to have
been a good risk at one time to get all of that credit. More
than likely something life changing put them in a situation
where they had no other choice but to file bankruptcy. Maybe
death of a income producing spouse, possibly a divorce, maybe
a layoff due to downsizing of a company. Those situations do
not necessarily make a bad tenant, but it makes for a poor credit
report. We look more for "attitude" and taking "responsibility"
in the credit report. An example might be someone who has one
open current charge account, but shows a collection account
for a cable bill totaling $28 and a utility bill totaling $45.
Most of the time the reasons we get for these problems is that
a relative wanted the service and they opened it for them or
the relative was supposed to pay it.... We find this type of
attitude questionable at best. Why would you allow a balance
of $28 to mar your credit, no matter what the reason?
We get this question a lot from new owners too... "Don't
you check with their current landlord to guarantee they are
going to be good tenants?". Yes we check. However, sometimes
the landlords lie, especially if they want to make their problem
go away and become your problem. What if these tenants are always
having the police over, are regularly late with rent, and generally
are causing you enough problems that you wish they would go
away. Then, you get a call from a property manager that informs
you that these tenants are looking to move into one of their
properties... what might you do? I have yet to hear from an
owner in this situation that these are the tenants from hell,
they're nothing but trouble, and you would be wise not to take
them. That type of honesty just doesn't happen.
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Negotiate Contracts and Rental Agreements:
One of the keys to good tenant relations is a clear understanding
of what is expected of both parties at the beginning of the
leasing/renting process. Having a detailed agreement is the
first step, spending the time to go over it and answer all the
questions a new tenant may have is the second step in preventing
future problems. The third step is follow through.
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Keeping Tenants: Retaining good tenants is
fairly simple.... respond to their requests quickly, and accommodate
them within reason.
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