decisions, but rather about gut instinct. Learn to trust yours when it comes to renting out your house and property to tenants. If Welch could do what many people say was an amazing job managing GE during the 1980s using his gut instinct, then yours can probably help you do a fantastic job in managing your rental properties. Trust your gut.
THE INITIAL PHONE CALL
That first phone call—when someone calls to express interest in your rental property—can tell you a lot. Consider it your “pre-screening” opportunity. You can pay attention to red flags and weed out a lot of “bad apples” right there. The key is to be straightforward and to pay attention to what they ask and how they respond. This simple call can eliminate “bad apples” right off the bat, it can eliminate those who don’t meet your minimum qualification standards, it can eliminate people who won’t be happy with what you’re offering, and it can give good prospects and potential tenants the basic information they need to move forward with the application process. Callers will have questions, and you need to be prepared to give it to them straight. If someone asks if you accept pets, but you have a no-pet policy, let them know right away to avoid issues down the road. If they want to know whether utilities are included, be straight with them. Unless for some reason you’re volunteering to foot the utilities bills, tell them, “No, utilities are not included. The electricity, heat, sewer, and water, etc. are going to be whatever they are, depending on how much you use.” Many would-be tenants ask about background checks. What are they hiding? Your response: “Of course I do thorough background checks. It’s part of the rental process. Will that be an issue for you? If you don’t match my minimum qualification
40
Powered by FlippingBook