Rental Property Investor · Chicago, IL · Member since 2017 · 39 posts · 6 votes
Hi all,
I am a beginner real estate investor who two months ago purchased my first piece of real estate! It is a top/bottom duplex where I am househacking in the bottom unit and rent out the top. The lease for the tenants who live in the top unit is over at the end of September and I am currently in the process of finding new tenants for the top unit.
I have one potential new tenant (PNT) who is local and requesting to see the unit in person and a second PNT who is working in Seattle for the summer. The PNT who is in Seattle cannot meet in person to see the place and wants to discuss more information over the phone.
My main question for the BP community is how do I go about entertaining both of these tenants interests in the new place? If I show the one in person and call the other on the phone is that ok to avoid any legal ramifications in the tenant search process? Also, is it the first person who submits an application and passes the background/credit check who I move forward with as the tenant to fill the unit?
This is my first time going through this process and advice to ensure I make the search process as fair as possible is greatly appreciated!
I personally never pass the “viewing” phase of showing a pnt if they cannot see it in person. Never. I don’t want issues with oh I didn’t see that or oh u didn’t realize...
If you can’t come see it, I can’t rent it to you. I basically show the house to a PNTs and advise them of the credit/background/eviction checks they have to do and the price for that. If they choose to proceed, I provide that info. I then choose from those that applied and let the rest know that I have chosen one
Rental Property Investor · Pensacola, FL · Member since 2018 · 196 posts · 130 votes
8y
The PM company required the prospective tenants to view the apartment before we would process an application. They were allowed to have a trusted person view the place for them if they gave authorization in writing. As @Cat R. said, it can open up a lot of opportunities for unnecessary issues.
Your locality will state which rules specifically you have to follow, but if someone applies but does not fit your criteria (So long as your criteria doesn't discriminate against protected groups), then you do not have to rent to them. If two people apply and both "qualify" but the second person has a better rental history and more income, then the second person is more qualified and you can rent to them as you want so long as you can defend your reasoning.
I personally never pass the “viewing” phase of showing a pnt if they cannot see it in person. Never. I don’t want issues with oh I didn’t see that or oh u didn’t realize...
If you can’t come see it, I can’t rent it to you. I basically show the house to a PNTs and advise them of the credit/background/eviction checks they have to do and the price for that. If they choose to proceed, I provide that info. I then choose from those that applied and let the rest know that I have chosen one
Cat R. thanks so much for the advice. Definitely some great things to note about having a PNT be there in person to conduct the viewing.