Congrats! People are calling to rent your property. You have advertised well. Now the hard part begins, selecting a tenant. The first phone call from a potential tenant can be awkward for some, but we landlords need to remember that it is a very important call. It can save us a lot of hassle. How? Simply by using these four questions for that first call.
When Are You Looking To Move?
This question can be a real time saver for you. Believe it or not, some folks begin looking for a new place 4, 5 even 6 months before their current lease expires. Sure, they could have a good reason such a hot market or a job transfer, but they often also expect you to hold that unit for them until, for free! Are you willing to lose 3 or 4 months worth of rent? I’m not either so we often ask them to check back closer to their move date.
What Is Your Income?
You should get this question out of the way early on. If a prospective tenant cannot afford your unit, than both of you are wasting your time. There are many ways to ask this question. Perhaps the best way is something along these lines. “That unit rents for $1,000 per month. We require income to be three times the monthly rent. Is that within your income range?”
How Long Have You Been At Your Current Job?
The goal of every landlord must be finding tenants who pay, stay and respect your property. When asking about work history, you are asking about their stability. Will they stay? Ideally, you would like someone who has been at their current job for several years. Be cautious about someone who job hops a lot. They may just hop out of your place as soon as they can.
How Long Have You Been At Your Current Residence?
Again, the goal here is stability. The last thing you want as a landlord is lots of tenant turnover. Tenant turnover is a cash flow killer. Ask your first time caller how long they have lived at their current residence. Then ask how long they lived at their previous residence. If you keep getting answers of a year or less gently let them know that you cannot do business with them as they seem to move too much. Trust me; the likelihood that they leave you behind in a year is very high.
So there you have it. Four questions to ask on that first phone call. A final word of caution is necessary however. To avoid appearing discriminatory, ask everyone who calls, the same questions, all the time, every time. There are fair housing testers out there and you just never know who is on the other end of the line. To avoid any issues, be consistent with your questions.
What do you like to ask first time callers? Please share with a comment.
