Handling MULTIPLE Rental Applicants * YEP! The GOOD Ole DAYS are BACK!

Handling multiple offers to lease is FUN!  Not just because they mean that some nice people will get the home they want to lease; but because the criteria of the applicants need to be MATCHED with the desires of my property owner clients.

Since I only handle long, fixed term leases * often multiple-year leases, I refer those applicants who "just want to rent until they know where they want to buy" to our local MLS rental listings and real estate agents who want to provide some income for their listing owners.

When I have multiple applicants for the same property * length of lease enters into my selection process....the LONGER the term, the BETTER for MY clients. 

Also, the date of possession (rent starts * utilities and yard maintenance stops) also enters into the mix.  I have just signed a lease for home that starts Sept 1 which will allow for some renovations to the home during the month of August AND the owner will be getting a 15% rental increase and the potential for a long term (lease REnewing resident) who has no interest in purchasing a home in the area.

I frequently advise rental prospects during their viewing that the property is "investor owned" which is why I do not place my rental listings in the rental section of our MLS.  Those properties are rarely available for lease for longer than a year and residents will be tasked with showing the home next Spring their the owner puts it BACK on the SALES market.

These homes frequently have RENT DISCOUNTS when they are placed BACK on the sales market; however, they are rarely kept in "show condition" and their listing price reflects the "tenant in place" situation.  I have taken 2 families as new residents who were VEHEMENT that the home be an investment property so that they could "live their lives in peace". 

These will be EXCELLENT long-term residents and I'm happy to be their new property manager!