Sunday, December 14, 2008

Here We Go Again

I hate to say it, but interviewing potential tenants is what I dislike the most about the rental process. First, I have to weed through several potential tenants who think they are superstars, wanting to impress me or pull the wool over my eyes.

They ask questions that annoy me: "will you lower the rent if..." and other things. I don't admit right away I live out of town, because this brings up more issues from potential tenants. "The lady you hired didn't fix/clean the whatever and I want a break on the rent." Of course, if I am not there, they expect me to take their word for it, not realizing I am pretty tight with Carolsue.

When advertising a lower-end home--especially if I am willing to overlook a lot of credit issues--tends to bring out a larger selection of deadbeats. One can have bad credit and not be a deadbeat. I have one tenant who had a thriving business in Birmingham. They took out a small business loan, with their home as collateral. Then, a larger competitor moved in and forced them out of business. They aren't deadbeats. They lost their livelihood. There is a difference! But, I digress...

But, back to this point. I have to weed out the deadbeats to find the folks worthy of renting from me. Usually this means listening to a variety of sob stories and a string of curses from those who gave up trying to impress me. I also get people telling me that "It's Christmas" and therefore should cut them a break on the rent or deposits (this is even before I see their application). What they are really telling me is I don't want them. Because eventually they will say "It's Groundhog Day," "It's Arbor Day" and "It's National Deadbeat Day." Let them be fodder for someone else's blog.

One of the major issues with tenant selection is the pressure to do it right. Doing it wrong, or acting desperate, ultimately brings in undesirable tenants whom I will eventually have to kick out. So, I feel a duty to my partner (and my sanity) to do it right the first time. I have acted in desperation before. That is how I got Wayward. A vacant home isn't as costly as another Wayward mistake.

I keep thinking of who would want to rent this house in Moody. What kind of tenant? For the right price, one bathroom wouldn't bother me. It means one less bathroom to clean. The neighborhood is very cute. I am thinking a young couple or a single parent--preferably a single father. Single mothers are for another post (though I will rent to a single mother).

Today, I ran an ad in the Birmingham News for my house in Moody. It is 95 percent ready. I gave my Birmingham cell number for contracting me. On my voice mail, I mentioned the house is a three bedroom, one bath. I told a few really great things about the home and gave the address. I ended my voice mail by saying if the caller drives by and likes what they see, please call me to set up an appointment to see the interior.

I got one voice mail. I talked to the guy and am pretty sure he isn't going to make the cut--even if he wants the place. He is already asking about the Washington's Birthday rent reduction.

1 comment:

Anonymous said...

Having seen (up close and personal) the house in Moody, I think it would be perfect for a single person, a young couple, a room mate situation or even a young couple with a couple of SMALL children. It's very cute and has a great yard. If it were in the Crestwood or Southside area it would rent for $900 easy and if it were in Mountain Brook or Homewood we could raise that number up to the over $1K range. Just gotta find the right person who likes to live in a modern stream lined fashion. It'll happen. I see this house being rented by a responsible couple for the next couple of years. Hang in there!!