Your “hot” property has hit the market, it smells nice, its priced right and hits the chorus for folks ( …. myself included) that sing that popular chorus “location, location, location”.
You ( Mr or Mrs DIY Landlord) or Smart Investor who hired (A property manager or Rental Loving Real Estate Agent) have the coveted opportunity to now screen the bevy of applicants you have, or perhaps its a handful.
Here’s the hard part, all of the applicants and/or their agents have provided all the “right” documents:
- completed and signed rental applications ( often with your name, date of birth , prior abodes’ etc)
- job letters ( who can question the authenticity of a piece of paper with typed salaries, roles, job titles, signed by somebody with a title)
- Copies of credit reports ( a snapchat of what or where you have credit/debits)
- Copies of paystubs ( reflecting your employer has paid for your time)
Why is it hard? Is this a trick question or Isn’t this the ideal scenario every landlord desires you may ask.
[important][/important]Here is why Its hard
[important][/important] Here is why the “actual value” differs from the “perceived value”
[important][/important]Here’s why you lose some but win the solitary “one” that counts.
Perhaps I am the only one this happens to, be sure to comment and let me know your experience :
- Everyone looks the same on paper ( the image of the minions in the movie Despicable Me keep flashing )
- The landlord/tenant representative’s mindset may be “transaction based” for a task/journey that will be “relationship” based commitment between 2 total strangers ( 12 months is no joke, even longer than pregnancy)
- You believe the decision making or due diligence turnaround should be 24 hrs or less (Mon-Fri and weekends inclusive)
In a nutshell, as with all relationships, you’ll discover when, where and how to compromise . Ultimately in your landlord and tenant relationship regardless of a great agent, a superb location, an ahmazing layout, key deposits, damage deposits, Pet Restrictions, World Class Building Amenities, Piles of documentation, Short cuts, Hard orFfast rules, rational or hasty decisions ,more often than not “Peace is its own reward” – Mahatma Gandhi
Managing properties with head and heart