Frustrating Experience
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Frustrating Experience (by GKARL [PA]) Apr 11, 2021 1:04 PM
       Frustrating Experience (by RentsDue [MA]) Apr 11, 2021 1:18 PM
       Frustrating Experience (by plenty [MO]) Apr 11, 2021 1:21 PM
       Frustrating Experience (by Ken [NY]) Apr 11, 2021 1:32 PM
       Frustrating Experience (by GKARL [PA]) Apr 11, 2021 1:35 PM
       Frustrating Experience (by GKARL [PA]) Apr 11, 2021 1:40 PM
       Frustrating Experience (by J [FL]) Apr 11, 2021 2:28 PM
       Frustrating Experience (by cjl [NY]) Apr 11, 2021 2:30 PM
       Frustrating Experience (by Sisco [MO]) Apr 11, 2021 2:45 PM
       Frustrating Experience (by Robert J [CA]) Apr 11, 2021 2:57 PM
       Frustrating Experience (by JB [OR]) Apr 11, 2021 3:01 PM
       Frustrating Experience (by Landlord ofthe Flies [TX]) Apr 11, 2021 4:22 PM
       Frustrating Experience (by Gail K [GA]) Apr 11, 2021 7:40 PM
       Frustrating Experience (by GKARL [PA]) Apr 11, 2021 8:21 PM
       Frustrating Experience (by plenty [MO]) Apr 11, 2021 8:22 PM
       Frustrating Experience (by GKARL [PA]) Apr 11, 2021 8:47 PM
       Frustrating Experience (by Small potatoes [NY]) Apr 11, 2021 11:55 PM
       Frustrating Experience (by GKARL [PA]) Apr 13, 2021 5:11 AM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Frustrating Experience (by GKARL [PA]) Posted on: Apr 11, 2021 1:04 PM
Message:

I have two very nicely renovated apartments located in a decent area. With all of the talk of a housing shortage, I thought I'd get these rented in short order, but after a month, I'm coming up with zero. I approved two people, but the competition is tough for the best tenants as they have plenty of options and both went with the competition. It's the marginal tenants for who a housing shortage exists.

Here's an example. Young unmarried couple. He has a score of 565 while hers is 597. Between the both of them, they have $ 87,000 in student debt. Both have collections including a small utility bill and a $ 2000 bill to AT&T for what appears to be a phone. She works as an accounts receivable clerk primarily through agencies, but agency work was very spotty last year. From her W-2's, it looks like she spent a week here and there and put together about $ 18,000 in income. He works in customer service with an insurance company but has only been there since Feb 2020. Don't have his W-2's but I suspect the situation is probably spotty like hers. They just had a baby, but she claims she's going back to work in May and she can work from home. Many of these lower level accounting/clerical jobs are being shipped overseas, so her employment prospects may be cloudy and certainly over the past year that seemed to be the case. The income requirements for this unit are $ 4000 a month and I'm looking for folks who are making that with consistent employment, not employment that's cobbled together.

I can't take them and this seems to be what I'm getting and that's after culling the others with pre-screening. I've had 200 folks I've prescreened and about double that number as far as inquiries. I was thinking about an open house, but I really don't think that would do much for me. Some of these folks are desperate and I really don't want to hear stories. I'm using Zillow, Zumper, Turbotenant and FB. Zillow has yielded better quality but far fewer inquiries. Same with Zumper.

--209.122.xx.xxx




Frustrating Experience (by RentsDue [MA]) Posted on: Apr 11, 2021 1:18 PM
Message:

I did better with apartments.com and realtor.com this time around. If you go through rentlinx, they will put you on both of them and quite a few more for $19.99 a month. --174.192.x.xxx




Frustrating Experience (by plenty [MO]) Posted on: Apr 11, 2021 1:21 PM
Message:

Simular here. Took the ad down for a week. Too new pictures and the last few have been excellent with complete applications and i believe Monday i will be offering the home to a family after re-listing the ad with new pictures just four days ago. Did you gather any feed back? Like needs painting? Can you add something the competition doesn't like washer and dryer or microwave? --172.56.xx.xxx




Frustrating Experience (by Ken [NY]) Posted on: Apr 11, 2021 1:32 PM
Message:

I would sell the place,for some reason everyone wants to be a landlord right now,let them fight over the scraps --72.231.xxx.xxx




Frustrating Experience (by GKARL [PA]) Posted on: Apr 11, 2021 1:35 PM
Message:

Plenty, these units are very nice with central air and in unit washer/dryer hookups. I think perhaps refreshing the pictures and adding video is something I'm going to do. The real problem is the tenant pool though. I have no shortage of interest, just a shortage of qualified applicants.

Rents, I'm going to try rentlinx. --209.122.xx.xxx




Frustrating Experience (by GKARL [PA]) Posted on: Apr 11, 2021 1:40 PM
Message:

Ken, funny you mention that. This was the place I bought at the sheriff's sale. I was seriously considering selling it at one point before I decided to keep it. This place would probably sell in a couple of days. I did it up very nice. The problem is that there's no place to put the money. --209.122.xx.xxx




Frustrating Experience (by J [FL]) Posted on: Apr 11, 2021 2:28 PM
Message:

Id set a deadline...May 1, June 1...and if you're still getting these duds do what Ken said and sell. --172.58.xxx.xx




Frustrating Experience (by cjl [NY]) Posted on: Apr 11, 2021 2:30 PM
Message:

I would suggest to just keep looking. Take it down for a few days or a week, new pictures, maybe new price (higher by a few bucks). See what happens.

I just showed an apartment to a girl that said she's been looking for a month. The apartment she inquired on has been available for OVER a month. I had another one come available (needed to freshen up) in the same building that I also showed her. She said "OMG, I love this one!" She didn't say that to the other one but did say "I like it, it's bigger than the one I have now".

With that said, she's currently completing the application so I can run the credit and background checks on her. I also have someone coming in the next week from out of state to look at the other apartment anyway.

Just be patient. It's very frustrating and honestly, if they fit, they fit. My thought on these two people you are talking about is that they are actually WORKING and FINDING JOBS vs just taking what the gov't is handing out. However, that doesn't make everything "right" and fit in... still do your due diligence ... if they don't qualify, they don't.

I get so many that either don't have enough income (like barely 2x the amount in rent and even some that only get a little over 1x that want to "argue about it" with me) or they just don't work (on unemployment, could work but choose not to until the gov't stops paying them, etc). It's crazy. --67.242.xx.xx




Frustrating Experience (by Sisco [MO]) Posted on: Apr 11, 2021 2:45 PM
Message:

Try a company logo on your pictures. It is possible that some component of your presentation looks sketchy to the well qualified. --67.43.xxx.xxx




Frustrating Experience (by Robert J [CA]) Posted on: Apr 11, 2021 2:57 PM
Message:

I'm sorry, things are sometimes rough. After reading your post I have this to offer you:

When I have a vacancy, I don't just slap on a coat of paint and hang a out a "For Rent" sign. Instead I glamor up my units, making upgrades so even I could live in my own rental -- that nice!

You are too busy pre-screening people instead of having their jaw's drop seeing your gorgeous rental. And scheduling multiple people at the same time creates a "false" impression that the rental is about to be taken by others -- so they will have to "JUMP" now or loose the rental to someone else. --47.155.xx.xxx




Frustrating Experience (by JB [OR]) Posted on: Apr 11, 2021 3:01 PM
Message:

The last couple I took had a toddler and two big dogs.

They both lost their jobs during the pandemic. Both of them immediately went out and found new jobs. Didn't try taking advantage of the free money being thrown around for sitting on their azzes. That was good enough for me. Obviously, they hadn't been at either job for long, but I didn't really care...

A couple more checks and in-house inspection and we happily said, "Approved!" --73.25.xx.xxx




Frustrating Experience (by Landlord ofthe Flies [TX]) Posted on: Apr 11, 2021 4:22 PM
Message:

Try throwing in a perk like lawn service included. No one likes mowing a yard, but tenants in that economic range may not be able to justify paying for that luxury.

I found that not only do the tenants appreciate it, but the neighbors appreciate a rental with a clean well-maintained lawn. Lets them know I take good care of my properties. --108.69.xxx.xxx




Frustrating Experience (by Gail K [GA]) Posted on: Apr 11, 2021 7:40 PM
Message:

Here in my neck of the woods I've recently joined a local "tenant looking for rentals" facebook site and it's interesting to hear what the other side is posting. Many are looking for private landlords as their biggest concern are their lousy credit scores. For them, getting

to a 600 FICO is akin to climbing Mount Everest. Dismiss those with Section 8 vouchers or those with three dogs and the credit scores seem to be what keeps them looking endlessly for a rental.

Many have little understanding that a landlord may be super cautious about renting to them for fear of not being able to get them out for months at a time should things go belly up with them employment wise. For so many I'm reading how they just "want a chance".

Gail --73.20.xxx.xxx




Frustrating Experience (by GKARL [PA]) Posted on: Apr 11, 2021 8:21 PM
Message:

Gail, I am a member of a similar Facebook group in my area. Much of the same complaints occur here. I don't even bother posting a rental in the group because most of the people wouldn't qualify. Most of them spend time complaining about how they can't find a place to rent and are looking for private landlords to rent from. They figure private landlords will have far easier criteria. It's been an eye-opener on the mentality of tenants. Quite educational. --209.122.xx.xxx




Frustrating Experience (by plenty [MO]) Posted on: Apr 11, 2021 8:22 PM
Message:

New pictures, new angles, i changed my opening picture to an outdoor picture of the blooming flowers in the front of the house, maybe try the mail box or front door, give the house a name like "clean and cute" The Sunshine House. The Name of Street House. Switch it up. Raise the rent a little like $895 to $899 or some number. Sageing (good harmony cleansing) and staging it for pictures, towels, soap, hand-sanitizer. Sounds like it just needs a "fresh" start. Try a Move in Special for April (half rent) then add terms so you get a full month goin in. Switch it up. Yeap my first go had me making an excel sheet (thanks WHM) of names, numbers and reasons, at $10 an application i printed off, and ran out, of 20, no quality. Go so tired of trying to qualify, getting incomplete application, no applications returned, hearing the stories ,,, well i was ready to quit! Took the ad down, scheduled a girlfriend day, phone on mute, took the weekend off, then regrouped on monday with new pictures, new copy and new numbers and outlook, printed off 12 applications, passed out three and i have good news tomorrow for one lucky family- including mine! --172.56.xx.xxx




Frustrating Experience (by GKARL [PA]) Posted on: Apr 11, 2021 8:47 PM
Message:

Thanks for this Plenty. You have me thinking about the $ 99 special. I've not done that in a while but it may be time to pull out that move along with a refresh of the pictures and some video. --209.122.xx.xxx




Frustrating Experience (by Small potatoes [NY]) Posted on: Apr 11, 2021 11:55 PM
Message:

GKARL, similar situation by me 100 inqueries now 30 pre-screened, showed to three, 2 who applied both w unqualified cosigner /guarantor.

From my perspective it's about the lack of qualified prospects and not the lacking qualities of the unit. The only thing is that driving people through the prescreen process prolly causing some of them to not try. I think about that. --172.58.xx.xxx




Frustrating Experience (by GKARL [PA]) Posted on: Apr 13, 2021 5:11 AM
Message:

It looks like I'm going to have a mob showing up on Wednesday. I've got about four people who I've pre-screened who are scheduled for the showing that day. I scheduled them all at the same time. I may have at least one of the units rented in a couple of days. We'll see. You can't count it until the lease is signed the check has cleared the bank. --209.122.xx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: Frustrating Experience
Your Name:
Your State:

Message:
Frustrating Experience
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: