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I am SO HAPPY My About-To-Be-New Tenant was REJECTED by a Real Estate Agent!

By
Property Manager with Gibson Management Group, Ltd.

I'm in my office on a Sunday AM writing a lease for a property I showed yesterday.

My about-to-be-new tenant had his heart set on another home showed to him by a REAL ESTATE agent on behalf of the property owner.

My about-to-be-new tenant told the REAL ESTATE agent that he had been through foreclosure with his EXwife in CA 2 years ago.

Since then, my-about-to-be-new tenant has been deployed to "the sand box" for a year and has gotten hired by a local GOVERNMENT agency which * if I told you it's name, I would have to run over you in my MINI.

Needless to say, I am VERY happy this REAL ESTATE agent cum property manager took my-about-to-be-new tenant's application AND credit check fee then 10 minutes later e-mailed him that his application was rejected.



Whether the real estate agent actually ran his credit report  or just talked with the property owner who rejected him as a tenant because of the foreclosure, I don't know......I just know that I am signing a lease with a HIGHLY skilled, HIGHLY employable rental applicant who is willing to give ME 12 months rent in advance.

Posted by

Wallace S. Gibson is a Certified Property Manager with over 50 years of property management experience and expertise.  She maintains a specialized property management business in Central Virginia serving Albemarle, Greene, Fluvanna and Louisa counties  

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Comments(14)

Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

I can understand if the foreclosure was last month, but two years ago, with good recent rental history.  That doesn't make sense to me.

Jan 08, 2012 02:53 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Wallace, 

Interesting. Some folks just can't get past the word foreclosure.  Having said that, I have found some folks who have been foreclosed on, who are not living in reality.  They want a lifestyle better than they can currently afford, but they don't fit our criteria. 

We've offered the rent up front option as well. 

All the best, Michelle

Jan 08, 2012 03:12 AM
Linda Jamail Marshall
Linda Marshall,Houston Texas, Linda Marshall, Realtors® - Houston, TX
Broker, ABR,QSC,RECS,ACRE - Innerloop Houston, Tex

Great blog this morning, I had to turn down one yesterday, had it been my personal property I would have rented to them in a second.

Greetings from Innerloop Houston Texas

Jan 08, 2012 03:44 AM
Kelly McGovern
Realty Concierge International - Bellingham, MA
Working with Kelly is a good move

Good blog :)  Here in MA we can't take a full year up front.  The max is first, last and security.  Too bad too since I've encountered many prospective tenants who could do this and owners who would take it - that is if it were legal here.  Congrats on your rental!

Jan 08, 2012 04:39 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I can take a full year and ONLY pay out as the lease stipulates; however, the owner does not want the money that way.

A foreclosure 2 years ago is ancient history....he's been DEPLOYED in THE SAND BOX for a year and has BEAUCOUP bucks - hence the ability to pay 12 months up front.

Jan 08, 2012 05:15 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Wallace - YOU GO GIRL!!!  I love hearing that there are PM / landlords out there that are not automatically rejecting folks with less than perfect credit.  That is such a major issue here with so many former homeowners having a really hard time finding a suitable rental.  Here in CA, we too can accept a years worth of rent too for tenants who want to secure a rental.  Now if we could just get PM and their landlords to even consider them.

Jan 08, 2012 06:26 AM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

I actually find many people who just lost their homes make very good tenants.... Sure their credit is shot but look at their other bills and their records... What caused the foreclosure....If they are just a bum then no but most of them lost their homes through life changing events and do make good tenants.

Jan 08, 2012 08:55 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

The "foreclosure" is mitigated by the fact that he has MONEY in the BANK and a VERY GOOD SALARY and NO BILLS!

Jan 08, 2012 09:01 AM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Now that's the kind of story I love to hear...............kudos to you Wallace.  I love the "money in the bank, very good salary and no bills!

Jan 08, 2012 10:35 AM
Mark Delgado
houses for rent, Solano County & Glen Cove - Benicia, CA
Benicia and Vallejo, Property Management, rental h

Always have a property manager do a property manager's job. Wallace, you blog is a perfect example of why this statement is so true. 

Jan 08, 2012 01:19 PM
Florida Management and Consulting Group Inc.
Florida Management and Consulting Group, Inc. - Coral Springs, FL
Real Estate Brokerage and Property Managers

Great story Wallace! It pays to sometimes take a second look.

Jan 09, 2012 02:35 PM
Michael S. Bolton
Michael S. Bolton,Inc. - Zimmerman, MN
MN Appraiser

Wallace~I don't think it gets any better than that. It pays to do a little more talking with a potential customer than just giving them the brush-off. Great job. Have an awesome day!

Jan 10, 2012 01:42 AM
Diane Rice
Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - Lansing, IL
SFR, SRES, CNC

Hello Wallace!  You know, of course, that these are the type of people we covet after!  Good for you for having the Property Management INSIGHT!

Jan 10, 2012 01:49 AM
Cheryl Dickson
Retired Realtor / Retired Home Inspector - Oklahoma City, OK
Retired Realtor, GRI / Retired Home Inspector

Good for you Wallace! The other agent judged the book by it's cover! You read the contents! Way2Go!

Jan 10, 2012 04:42 AM