Investor · Québec, Québec · Member since 2016 · 33 posts · 13 votes
I have a unit for rent and two days ago I showed It to a young man who will probably meet my minimal standards (screening process is in process). I also got a visit yesterday, an older man who is looking for an apartment for as long as he could live by himself.
Short story short, with the info I have, the young will probably rent for two years max, and the older one may rent to the day he die (he's around 65).
Given that they both meet my minimal requirements, who would you rent to and why?
Investor · Allentown, PA · Member since 2015 · 101 posts · 69 votes
9y
This business is not that tough. It's not like all of the applicants can see everything you are doing, and are just waiting to pounce at the first perceived slight. As long as you aren't discriminating, always do what's best for you.
Investor · Québec, Québec · Member since 2016 · 33 posts · 13 votes
9y
Just to give you all closure on the specific probleme of this thread. The old guy never gave news. When I was mid-way screening the younger one, the tenant-to-leave told my he'd stay for another year, whih I gladly accepted since he's an A1 tenant. I called the younger applicant with the news, but said that if he's willing to pay more, I have a bigger appartment to rent in the same building. He visited today, I finalized the screening process, and he's signing the lease the coming days. 100% rented for the year to come :)
Real Estate Agent · Alimosho , Lagos · Member since 2016 · 22 posts · 17 votes
9y
You can't feel guilty of anything or accused of discrimination if you choose the best applicant that fits into your standard requirements or qualification for an apartment especially if your choice is based on the ability to pay rent and utilities timely. If you have told to the second applicant that another applicant has been shown the apartment but he/she is still going through the process of screening and selection, i think the second guy wont be offended if he didn't get the apartment at the end of the day.
Besides long tenure you see as an advantage have considered the disadvantages especially when it involves a senior citizen please don't get me wrong i am not saying you should discriminate against senior citizens. If they meet your standard requirements and have the ability to pay rent for as long as they want to be in the apartment and can are beneficial to your investment that is fine but if your operate on a first come first serve basis then you need to stick to that and go with the first applicant and if you are not in the position to decide this you can introduce them both to the property owner to use his discretion in selecting the best applicant for the apartment.
If this is an issue you can add more requirements in qualifying applicants that favour applicant willing to stay for longer term, may with this in place you wont feel guilty, no applicant will feel cheated and there wont be any form of discrimination allegation against you.
Althought it turns out differently than excpected, this discussion got me thinking. Like I said previously, I really like things to be fair and square. So I decided to set my minimums standars for qualification at a level I judge to be safe in my market (wich I also stated previously). Given the standards are met, I will choose on a first-come basis.