The most important person to speak with is the agent or
owner your potential tenants are currently or previously rented through.
If
your tenant was a good tenant before, they are likely to be a good tenant for
you. If they were bad rent payers, they will be again.
Since they are pressed
for time, many real estate agents think it is OK to fax or email references. I
am NOT a fan of the practice.
I always prefer to call and actually speak to the
person who was in charge of the property, whether it was the owner or an agent.
You can get a lot of facts from an email, but for really getting a feel for
what someone thinks, a phone call is a lot better.
On the phone you get to hear
all the silences, umming and arring. Sometimes these can tell you more than
their words.
Hesitations can tell you a lot. If you ask an owner if they would
rent to their previous tenant again, they are likely to say yes.
But if they
hesitate before giving a soft yes, what are they really telling you? Probably
that they were a borderline tenant and not worth renting to.
Some agents may
want to give a bad reference, but don't want to put it in writing because
someone might show the tenants the reference.
So, they are often more candid on
the phone.
Never Forget to Ask These Questions:
Did they pay the rent on time? Find out if they ever missed a rent payment.
This may mean discussing this topic a little further.
Ask for an email copy of
their rent ledger, there is nothing like seeing it with your own eyes.
Would you rent to them again? This is my favorited question to ask. It
is especially effective if the person you are calling has the same high
standards for great tenants that you do. If you get an unhesitating Yes, you
know you have a winner!
The next person you need to talk to is their current
employer(the previous employer is good to talk to as well, if you
can). I have always found that if a tenant is a good employee, they are more
likely to be a good tenant.
Don't forget to ask these questions:
Do you think they will be working for you in six months’ time? Not only do
you need to know that they can pay the rent now, you need to know that they can
pay the rent six months down the road. This can also show what the supervisor
thinks of your tenant. If he says "I hope so", you know you are onto
a winner!
If you had a rental property, would you rent to them? This is a single
question that can eliminate about five others. If you get a definite 'Yes',
great. If you hear a hesitant 'Maybe', you'll want to dig some more. Most of
the time 'Maybe' is a polite way to say 'NO'.
Hint: Don’t forget to confirm their income!
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Jason Gwerder
Friday, 6 September 2024
