Our Rental Property Essentials post is inspired by the “for the dummies” book because we all are really not “geniuses” but together and with sharing our experiences we all can learn, re-learn, and un-learn.
Have you ever come across or read any of ” x.y.z for the dummies” book series. If you haven’t please visit your nearest library or bookstore and search for them, there are quite a few and I really do admire their un-relenting creativity at crafting new genres.
Rental Property Essentials by #ZeroVacancyGal ( will be coming to a bookstore near you soon) but before it hits the shelves, we thought why not give some snippets to our loyal and every growing audience.
If you have read a book on real estate investing, or attended any real estate seminar, real estate meet-ups in your city, attended a real estate investment club event , or even sat down to have a chat with a property investor, coach or landlord several buzzwords you’d hear is ROI ( Return on Investment), CF ( Cash Flow ), PBP ( Payback Period), Transaction Costs ( TC) , Vacancy rate (VC), Capitalization rate ( Cap Rate), Rental Income (RI), and the list goes on, but one key element that can differentiate your true positioning as a real estate investor is “Tenant Screening”.
Hopefully, as an investor, you already have your “why’s” figured out by the time you sign your first deal.
ZeroVacancyGal has been responsible for #tenantscreening at Abode Property Management since 2006 and here are 3 tips she’s sharing free on this blog post today
1. You don’t need perfect answers but you do need to ask the right questions.
2. Documentation is great, but stay curious and don’t make assumptions.
3. Your best tenant screening decision would be to outsource the task.
If you need referrals for outsourcing your tenant screening, be sure to ask around, get references, and don’t be afraid, stubborn or too broke to let go of your tenant screening process even if you consider yourself a people person, a great judge of character , or an intuitive person.
If you have found this post helpful, pay if forward and pass it on, and follow #ZeroVacancyGal on twitter or facebook for interesting tips like these.
With head and heart