Davenport (East Davenport) landlords. Wondering if any of you have difficulty finding qualified tenants for your single family homes? Or how long it takes/how many bad applicants you typically have to weed through before finding a qualified tenant? I have a house in east Davenport (good neighborhood) that has been listed about 1 week. Had a lot of showings and 3 applications, all of which I'm rejecting for failure to pay rent to previous landlords, bankruptcies, income to rent ratio, etc. Home is listed at $1175. Wondering if I should drop the price. It's a 4 bedroom (but bedrooms are small, 2 are in the converted attic). Property is clean and in good condition.
Property is listed on Zillow.
Appreciate insight or thoughts anyone might have. Thanks.
@Allison Massey , it may be beneficial to mention your criteria when you first get a call. Before going into details of the house, explain you require a credit score of XXX, no bankruptcies, no evictions, the income ratio, and that you'll be confirming employment and standing with previous landlord. This will self-sort most of the folks who wouldn't qualify.
How is competitively is your house priced? Did you do a rent study before listing?
Are there large, professional employment centers nearby, like a hospital? If so, reach out to their HR department and let them know you have this house available to rent. They may have a formal or inform network that can be leveraged. If you're targeting nurses, residents, etc., you know they'll have the income to qualify and likely be responsible tenants.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing