My phone has been ringing off the hook for the past two weeks.  Lots of calls for rentals.  I currently have rentals available, so this is a good thing. BUT BEWARE...at this time of year, as years in the past, the rental calls tend to be a little bit different than at other times of year.

Why, you ask?

Many people filed rapid refunds on their income tax and have a wad of money in their hand, today.  Many are moving because they have to, some because they want to. The tone of the phone conversations tend to be very different at this time of year.

Now, I'm not a stickler on credit for perspective tenants, on the rental properties that I own. I never have been. I believe that bad things happen to good people. Many people have found themselves in precarious positions, especially in the past couple of years. I have placed 5-6 tenants in rentals over the past couple of years that got caught up in the mortgage foreclosure mess, and they pay their rent on time every month and they take care of their rental homes.  I have no objection to taking a larger deposit to consider a tenant.  I don't do last month's rent.

But, I also know there are questions that perspective tenants ask that are 'red flag' questions.

"How much to get in?"  This means that's all the money they have and all the money they'll ever have. You'll never get another dime out of this tenant once they move into your property.

"I have first, last and security today." Yeah, because you haven't paid the rent in the place you're living in and you're being evicted.

"I can give you 3 months upfront. Would you still have to pull my credit?" This one is a no brainer.  They figure they'll pay their way into the property. They are hoping that the lure of upfront money will keep the landlord from pulling their credit and seeing just how bad it is.

"Can I move in tomorrow?" I really don't care for this one.  How many people can move tomorrow?  Are they being evicted? My question usually is, "Do you currently have a lease?" And they say 'yes, but it doesn't matter, I can move anytime I want to.'  HMMMM.  This means they'll do the same thing to me, and break their lease with me. No thanks. I like the ones that tell me their lease expires in 30 days, and they'll need to wait till then to move.

"If it's not ready, I can do the rest of the work for you." Again, in too much of a hurry.  And 90% of the time that additional work nevers gets done.

"I've been renting from my mom for the last 3 years. I pay her $700 a month. She'll vouch for me." I had the mom of a perspective tenant call me last week to tell me how wonderful her son was.  As the conversation progressed, it was apparent that mom wanted junior out of her house yesterday.

And, beware of the perspective tenant that calls over and over and over again. I have had tenants try to reach me 6-8 times in an hour. Leave me one message and I will get back within the hour. If you call me this many times BEFORE you rent, then what happens when the toilet gets plugged when you are living in the house?  No thank you!

Be cautious at this time of year, in the more affordably priced rentals.  Many have received their income tax refunds and are out shopping for a rental.

BE CAREFUL: THAT INCOME TAX REFUND MAY BE THE ONLY MONEY THE LANDLORD EVER RECEIVES!  I've seen it happen to a handful of landlords.  So, prescreening is essential! It so important to continue to ask questions to get a better understanding of a perspective tenant's complete situation.

FOOTNOTE: Every situation is different, and as I always say, every perspective tenant must be considered on a case by case basis. I prescreen all callers. If I didn't I would be running around showing rentals to unqualified tenants; a waste of their time and mine.

This article is authored by

Sandy Shores, Melbourne FL Realtor

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News