When it comes to owning rental property, how to find good tenants is perhaps the number one question asked among investors.
Think about it. If all of your tenants were good, clean, and responsible as Aunt Bee in Mayberry or June and Ward Cleaver of Leave It To Be Beaver, life would super fantastic.
But this is not the world we live in today.
Do you honestly believe there are any good tenants left in America? Today we struggle with the “entitlement attitude” of many tenants when they are brain-washed by the media and society.
Guess What? There are very good, clean, and responsible tenants out there and they will rent for a long time because they think like me and you, moving is not fun.
Step into Aunt Bee’s shoes for a moment. Imagine you are looking at a poster displaying the entire year. What month or months would Aunt Bee NEVER Ever consider moving? November and December because of the holidays. She says it is time to bake and celebrate the holidays with family and friends.
Knowing this, what would your barrel look like in November and December? There is no “cream of the crap” to choose from. Only scum on the bottom. Your barrel is “pert near” empty at this time.
If Aunt Bee did decide to move for some reason, when would she begin her search for a new home? How far in advance would she begin her search? As a responsible person, Aunt Bee almost always begins her search for a new home at least 30 days in advance if not more.
Have you ever done this? You have a rental ready to rent NOW. You want it rented yesterday. Aunt Bee contacts you and tells you she want to move in about 45 days from now. YUK! You want somebody good to rent it now. I recall my pain and frustration on calls exactly like this, but, let me remind you, this is exactly what you WANT. This person is responsible by beginning their search in advance instead of saying “I need to move before 11am tomorrow.”
Here is your test for yourself to let your own creative juices begin to flow. You already know November and December are the absolute worst months of the year to “Shoot Ducks In A Barrel” to find good tenants. Use your noggin to come up with the month(s) where the barrel is plumb full and overflowing with great tenants.
Great Stuff and I am looking forward to seeing you soon. . . . by the way, I will be in Kansas City from September 8th through the 12th at MAREI. At the Tuesday Meeting I will be sharing my 10 Proven Keys to Consistently Getting Paid Over 100% of Your Rents Every Month and then I will be back on Saturday with a 2 Part Workshop . . How to Fill Your Vacant BEFORE they Move Out and How to Screen Your Tenants in 15 Minutes or Less. Visit the MAREI Calendar to Register for both events and to get all the Details, I will probably be chatting with Kim on a Webinar or two the last of August and the first part of September too!.