Saturday, October 10, 2015

Landlords want good tenants always. But they ask too much sometimes.

Of course Landlords want good tenants. They do not want headaches with tenants. They just want the rent and live in peace and good harmony.
So as a Broker you get the listing, and seek the tenants that the Landlord would love to rent to.

But 50% of the time as an average, the Landlords get a little much.
Example: Couple who has letter of reference, combined 800 credit score, and combined income of $125,000 dollars. Now the Landlord wants two months security which eliminates 95% of tenants. And as each day goes by, the Landlord gets closer to not attaining a tenant and begins to loose rental income.
That you can not make up.

Or how about this example. A two bedroom apartment and the Landlord wants a single person. Prior rental income was $1500 dollars. But now the Landlord heard everyone is collecting $1800 dollars rent. You try and attain a single business woman who has a 850 credit score and six figure job. Good? All the tenant asked for is $50 dollars off the rent. Single person you say, less water bills, so what does the Landlord say? I want $1800 rent everyone is getting it.

Same with Homes sometimes. All different style of Homes, however if the same house is for sale at $799k, do you think by bringing it up to the owners, along with a list of sold homes in the area that will help the owner right? Well the owners sometimes say I heard a house just sold for $865k. They may be right but in this case a bigger home, more income, etc.. Bring that up and do you think they understand? No, they want $850k also they tell me. It happens.

37 Years of experience
Jim Turano/Broker
Diverse Real Estate

 

No comments:

Post a Comment