I have listed my property as available for immediate move-in One of the applicants toured and liked the property and sent in their application on our request. Their indicated move-in date is 2 weeks out. They are unable to pull it in. They meet all the other criteria. Can I decline them if I find someone else in the interim who moves in immediately?
Do I tell them of my intent to continue looking ? Am I obligated to refund their application fee (paid to Zillow) ?
Real Estate Broker · St Petersburg · Member since 2014 · 2k+ posts · 2k+ votes
3y
It’s always good to have a rental selection criteria up front posted that outlines your procedures and processes. Did you tell these applicant that you wanted immediate move in? Once you approve someone, you need to move forward, if you have not done that, you should be ok.
Talk to the applicant and see if you can compromise and have them move in one week instead of two
You can, but honestly most good tenants are looking a month out to move in as they plan ahead. Think about the type of tenant who wants to move into a unit immediately (eviction, bad split with a partner). Take a non-refundable deposit that turns into their security deposit. That way if they bail, you have that money.
Rental Property Investor · Member since 2020 · 1k+ posts · 1k+ votes
3y
I think this is where pre-screening is key. I'm not sure how scalable this is but I call every lead and ask questions about finances, rental history, why they want to move, animals, and availability of funds before I will evens how them the rental. These questions cut out about 1/2 of my showing and save us both time. I honestly thought by the title they were wanting to push out a month or 2. As @Theresa Harris said outside of job relocation I rarely come across good applicants who want to move in ASAP. What normally happens is they tell me they have to give 30 days notice which I see as a good sign. I then remind them how much work moving is and that this isn't something that most people can do in a day. What I tell them most of my tenants do is start the rent on the 15th that way they can have a couple weeks to move and clean the old place to get their deposit back. Generally we'll call it the 15th but I'll give them the keys the Friday before the 15th so they have an extra weekend and I have utilities out earlier. From my perspective a 2 week vacancy is almost perfect and you are unlikely to find someone to move in sooner so you should take it.
My policy is that I will only hold a vacant unit for one week. After that, they have to start paying rent whether they occupy it or not. If they aren't willing to pay rent early, then I offer it to the next applicant or continue marketing it.
Developer · St. Augustine, FL · Member since 2018 · 311 posts · 384 votes
3y
My policy is usually no later than the beginning of next month unless I'm extremely confident with the market and know I can find someone immediately. Often I would offer to meet them in the middle if the dates are to far out than my likings. At the end, if they don't like my offer, it's up to me to decide whether I want to keep them or look for someone else.
The good old saying is true: "A Bird in the Hand is Worth Two in the Bush"
I haven't accepted them (verbally or in writing) and there is no lease involved. Just that I insisted that all adults fill the application. They meet the rental criteria, but, are not very strong prospects. I have concerns about their ability to keep the place in good condition (just a hunch based on the meeting with them). I also feel they may not understand their jump up in rent + utilities very well. May lead to unhappiness once they realize. I can absolutely wait 2-3 weeks for a strong applicant.
I guess my question should have been: Given I am not very excited after meeting them, can I decline them? What are the grounds ?
Property Manager · Mobile, AL · Member since 2020 · 7 posts · 4 votes
3y
As most have already said, as long as you haven't accepted them yet, you should be fine as long as your decision follows the Fair Housing Act (meaning you're declining of their application is not based on Race, Color, National Origin, Religion, Sex (including gender identity and sexual orientation), Familial Status, or Disability).
Talk to them first. I like @Kevin Sobilo's answer of putting the ball in their court and @Nathan Gesner's answer of having them start to pay rent a week early whether they occupy or not for the additional holding time.
If I were you, I'd outline what my expectations are with move-in date/property upkeep/when to expect inspections and let them know I can accept their application if they agree to start paying rent and have utilities in their name by X date, regardless of when they actually choose to move in.
Also, about the application fee: If they qualify but don't agree to your terms/decline your offer for tenancy, you are not obligated to refund this, especially if you've already completed your tenant screening/background check.
I hate leaving a unit empty but a responsible tenant will be looking for a new place in advance. If someone is looking for a place to move in immediately that's a big red flag. They usually say they have cash and need to move out asap because their landlord is terrible.
Investor · Manteca, CA · Member since 2017 · 1k+ posts · 2k+ votes
3y
Truly good tenants wont be in the position to move in "right away"..... but most will jump on a good unit and have some overlap between old and new..... they just have to pay for the overlap... also gives them time to move everything from one to the other, clean up etc etc.
If the applicant is a good one, I'll keep it vacant for a week, but require a signed lease and deposit to hold it
Rental Property Investor · schuylkill county · Member since 2022 · 1 post · 2 votes
3y
@Amit M. Hi to decline the applicant for requesting 2 weeks would not be a great idea. Since papers have not been signed and security deposit has not been received it a good idea to keep marketing the rental till there is signature.