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When we talk about tenant selection with our rental property owners in Orlando, we always like to discuss the prepared tenant. The prepared tenant is the right tenant for your rental property.

Rushed Tenants vs. Prepared Tenants

Sometimes, owners will tell us that they just want any tenant in place as soon as possible. But do you really want a tenant to move into your property the day after he or she sees it? That’s not likely to be the kind of tenant you want. Tenants like that will be ill-prepared. If you come across tenants who want to move in right away without any planning, they are often coming off an eviction, moving out owing funds to previous property management in Orlando, or they are handling their move without any strategy or planned move out process.

Responsible Tenants

Those tenants who are desperate to move in are often not going to take care of your property. They aren’t going to be responsible when they pay rent. When they move out of your property, they will likely up and leave without any notice. That’s our experience after dealing with hundreds and hundreds of rental properties and tenants.

Choosing Prepared Tenants

We prefer to deal with prepared tenants. If we get an applicant who comes to us with three, four or six weeks of notice, a landlord reference, and a structured move out from their current location – that tells us they are responsible, prepared and more likely a decent tenant. We have the time we need to conduct a better background check, research the tenants and understand their needs and goals. It also gives us the time we need to prepare the property. If we have a rushed tenancy where tenants are fighting to get into that property asap, we have to rush the vendors to prepare the property and that will lead to arguments down the road with a dissatisfied tenant.

So do you want the rushed tenant who just wants to get in there quickly or a prepared tenant who is more responsible and pays rent on time? Look for prepared tenants you can nurture and develop a good relationship with.

If you have any questions about choosing the right tenants, please contact us at Warner Quinlan.

 

Photo of Mark PagdinMark Pagdin

President/Broker Warner Quinlan, Inc.

For more than 20 years, Mark has managed his and clients’ investment portfolios, garnering him the unique perspective as both owner and property manager. His blog series is an invaluable tool for investors looking for guidance on property management, purchases and acquisitions.