Don't know if I'm going to be a good landlord

[Shaun R.]

As I've mentioned multiple times on the forum, I'm working getting my first rental ready to rent.  I just started listing it online a few days ago.  I've got a few e-mails and a few calls, but nothing serious yet.  Today a lady called while I was at the house painting, and asked if she could come see it.  I explained that we are still working on getting it ready, but I'd be ok if they came to take a look.  

So, the situation is that two sisters live together.  Each has one kid and one dog.  They loved the house and were good with the price.  They said they had the money to move in right now and wanted to know what to do next.  I explained how to go on-line to fill out an application and told them about some of my minimum renter standards.  They seemed a little concerned that they might not quite make the 3 x's monthly rent, and they said they've had problems finding a place because one of the dogs is a German Shepard and apparently landlords are not ok with that.  

After talking to them for a little while I found myself wanting to help them out and maybe bend a rule or two.  I did throw it out there that I my partner has to approve any decisions made, so I have that to fall back on if I have to reject them.

I tend to want to believe people and help them out when I can.  Maybe I'm too soft to make it as a landlord.  Property management may be the way to go?

[Michele Fischer]

Sounds like my husband, who is the face to the tenants.  He loves them all and wants rent to everyone.  He's good cop.  I'm bad cop, which is what your partner will need to be.  "I need to ask my partner" and "My partner won't like that" will be your tagline.  I do see the tenants, but only in an enforcement role - going through the agreement, maintenance inspections,e tc.

Follow your process.  If you think you should bed a rule, adjust your process for the NEXT vacancy rather than this one.  I have a scoring sheet and use a point system; every applicant is yes, no, or holding pattern no matter what my husband thinks.

German shepherds are classified as dangerous breeds.  If you son't mind that can be a good niche.  But check that your insurance allows them.  Unless your place is A or B+ class, I think 3x rent may be too high.  I look at a lot of variables besides income amount, such as how long they have held the jobs.

This is a business, keep the emotions out of it.  At least half of the people you encounter will be stretching the truth to find housing.