Screeing of Prospective tenants...
I’m a single woman who bought a 2 family 4 floor brownstone earlier this year in PH and I live in it all alone (yes, I’m a loner – and no plans to change that). Financially, all is well. But, the size of the house is unexpectantly overwhelming me, being alone and all. I’m extremely…
I’m a single woman who bought a 2 family 4 floor brownstone earlier this year in PH and I live in it all alone (yes, I’m a loner – and no plans to change that). Financially, all is well. But, the size of the house is unexpectantly overwhelming me, being alone and all. I’m extremely cautious of renting to anyone. Can anyone recommend a good service that does thorough screening of prospective tenants (I mean the whole CIA type checking & profiling etc.)??
I’ve decided not to renew my lease and currently looking for a renovated 1-1 1/2 bedrooms. I’m a single professional woman, no children or pets, good credit and lived in my current apt for approximately 10 years. Should you decide to rent out a part of your home, please contact me at l.aptsearch@yahoo.com. Thank you.
8:20 – agree there’s risk all around in all decisions – just gotta go w/ gut instinct – one can focus on the risks only and take no action (which is ok) or take informed actions (which is ok too)….
7:35, that’s an interesting idea but I am curious about how it would work on the ground. When “reaching out,” do you announce a lower rent than what the market would bear? Sounds risky if so. If you decide you don’t want to rent after all, I’m not sure how to explain the outcome to applicants (in a way that doesn’t invite them to pressure you). If you don’t attract the tenants you like, and decide you’d rather make it all business and collect market rent, how do you suddenly say the rent is now higher?
As a woman living alone in her own house for about a year I face a similar dilemma. Several people have proposed themselves as boarders/tenants or mentioned friends who need a place to live. I would say yes if conditions were right–wouldn’t mind help with upkeep–but it’s hard to know how to proceed.
From your post, your choice to have tenants is not based on financial need. So you are in the unique position of being able to provide a degree of affordable housing. Consider, reaching out to local schools, police precincts, firehouses etc. where teachers and officers or single working moms in these professions may be in need of housing. In addition to the checks mentioned above, you may get the benefit of community feedback and people around may know them. You are truly in a rare position to get a great tenant and add value!
You should know yourself and your assessment capability. Me, I’m an awful judge of character by just talking and meeting someone – people coninuously shock or deceive me! In any event, I suggest you do not rent to anyone you do not know well to live in the home you reside in. I only rent to tenants in investment properties – never my home.
Since you’ve only moved into the home this year it is understandable that the space is overwhelming you. Consider giving yourself more time to adjust. Just filling the house w/ tenants may not be the answer. If you find that it is, I agree w/ much of the recommendations above. Good luck!
7:00 i totally agree with you. I do not rely solely on the realtor for credit and background checks. I always do one myself after having caught a well known realtor who lied about possible tenants credit history.I now have a great realtor and have established a great rapor with her. She feels like family and I find she goes out of her way to find me the best tenants if needed for my homes. She will even let me know her instincts about someone who may have the perfect credit history and ability to pay the rent. I also always ask to speak to the prior landlord. But the only true indication is the feel you get when you speak to someone in person.Good luck!
I am a single woman who owns a 3 family brownstone. I understand your concerns. I like the use of a local, very professional realtor for the following reasons:
— They will do a full screening which is time consuming. This includes credit check, credit score check, criminal background, banking info, job info, checking into whether tenant has been involved in lawsuits, and checking of former landlords with references.
— You get to see this application information and check info BEFORE you meet them.
— The broker takes them to see the places. You don’t have to be alone with them yourself. So you get to keep your distance from the tenant until you decide they seem right from the broker’s description and documentation.
— If they do look good to you on paper, say that you have several applications and meet the tenant and then get a feeling of the person. Some people argue against a broker “getting” you someone because you should get your own feel. This is not mutually exclusive. The broker does all the upfront stuff and then you meet the person. I like meeting the person in a coffee shop with the broker.
Some people say use Craig’s list, but I hate that idea. I want absolutely nothing to do with unqualified strangers alone with me in my house.
If this sounds paranoid, it really isn’t. Once you meet someone you like, you can let be open and tell them everything about the house, yourself, how the place works, what works for you, what doesn’t, and get a sense of whether they will be happy in your place. All of that legwork up front ensures that the tenant will be happy and that you will be happy too.
Good luck.
I am also a single woman living in a multi-story brownstone. For a number of reasons I decided against renting, but I did give it a lot of thought. Listen to the people who say that you should both hire a company to pre-screen the people who come to you as prospective tenants — and then you still need to interview them. Your interview should include discussion of what you will expect them to agree to <> Every thing from garbage disposal to building security. Talking about these issues should give you both the time and the opportunity to hear their responses and see the chemistry between you and them.
The bottom line is that they are strangers living in your home — take every appropriate step to know who you are renting to and then pray. Best of luck. LB
I would never use a broker for our house. If you’re concerned about getting people you feel comfortable around, I’d be sure to interview them myself.
We show our apartment open house style, and take the time to meet people who show real interest and ask them questions. There is almost always plenty of opportunity to chit chat without having to do the coffee and cake thing (which sounds weird to me). Even when the place gets really crowd, tenants who are seriously interested will start competing for your attention.