Always ask the following to avoid spinning your wheels:
Most of these questions should have simple answers, but you will discover you will often hear all sorts of stuff, but not necessarily a direct answer. Tenants tend to be self-serving, meaning they are looking out for themselves. Tenants tend to lack loyalty. You can show them 100 places, then they see a sign on the street, don’t call you to ask about it, and either disappear or call you later to say they found an apartment– so all of your time and effort was wasted.
- Are you working with another agent? In our new age of showing agreements, this adds a layer of complexity. You must have the tenant sign a showing agreement prior to showing them property (virtual and in person showings).
- Do you have any pets? It’s astonishing how you can talk and talk to someone looking for an apartment before he casually lets you know about “Cujo.” Always find out about animals. Many buildings have restrictions.
- When do you need to move? This seems like a simple question to answer, but you’ll get all sorts of answers, everything ranging from tomorrow to it doesn’t matter. A viable prospect knows when they need to move and ideally 30 days or less from needing to start a lease. If someone needs to move 6 months from now, it is best to politely tell them that you can assist as the date gets closer.
- Why are you moving? This tells you a lot. If a tenant says he/she is breaking their lease because their neighbors are noisy, the landlord is rotten, or some other red flag excuse, you might be better off letting them know you cannot assist them. If they are relocating from another city, their lease is about to end and they want to upgrade, etc, they are probably good prospects.
- Do you have first month, last month and a security deposit? This is what most landlords want prior to moving in, so if they don’t have the money, be cautious. It will be hard to get an offer accepted, and you will spin your wheels.
- Do you have income and other information that an owner may want to review available? Explain to them that most landlords see an offer on a piece of paper and the additional information helps an owner make a decision. They might reveal their horrible credit score to you, which once again could potentially make it harder to get an accepted offer. It could be overcome, but it makes it a little more challenging.
Remember, your time is valuable. You don’t have to work with everyone. You want to work with Tenants that have the ability to rent a property. You don’t want to show countless units and waste hours of time with a prospect that does not have the ability to rent a property or the immediate need (showing something today for a rental that is needed in 4 months is a waste of your time).