Renting out a room and don't know what questions to ask?
Here are 3 I've used to screen tenants with 100% rent paid success.
What's up, guys? I am four years and almost five years and renting out rooms of my house, having a pretty good success rate, here are the three most important questions I ask everybody when they call, because I get so many phone calls on these ads. It's ridiculous here. The three most important ones that you can scream almost every single person to make sure they're at least to the next step in the equation. They're. What makes the world go around money?
How do they make money, what type of job do they have? Naturally important, do they work a swing shift, a graveyard shift? If so, I don't know about that coming in at 3:00, 4:00, 5:00 o'clock in the morning, just coming in.
I like to sleep personally. What type of job? They've asked for bank statements and paystubs. Taking people's word for it is great until you find someone who's a very great talker and a very great salesperson that's going to sell you on the idea of them moving on. And they actually don't have any of the things that they were talking about. Waste everybody's time. It's way better to have actual documentation.
What are they doing in life right now? Are they a student or are they working hopefully either of those two or are they a homebody or careful what they homebodies, they will make your life less enjoyable than I was previously, if they're students. That's great. I mean, they're off to college, off to university, doing their thing usually throughout the week. They might be back all the time during the weekend, which is totally OK working. That's great.
Hopefully it's a full time job. And if not, if they're student and working part time, that's a good combination there. Keeps them out of the house. And it's OK to have people in the house this year. Do you want people to have things, a life, a life outside the house, not always in the house? And then lastly, are they a homebody? Are they on disability, Social Security, something where they don't have to work?
It's really good for people to work. I should have realized even it's a little bit of work. It's good for people to work. It's not good for people to sit at home all day watching television, anything sitting on your bed, your chair, just letting your mind circle, circle, circle. It's good to go out and about. So if they don't have a job and are not studying a homebody who may not be the right decision.
And then lastly, do they have anybody in the area that they know? Are they moving from some place far, far away? Do they have friends or family in the area? If they do. That is great.
That means that I be out and about with them, hanging out with them, spending time with them. That is great. That's good for everyone's mental health, that's for sure. Having people around you. If no one if they don't have him there, ask them kind of what's going on and if they aren't bad terms with them, that is something that sometimes brings a red flag to me. If they can't keep a familiar relationship amicable, how are they going to keep our relationship amicable?
Again, not everybody is this way and not everybody, you know, because they're bad with their parents. I mean, they're going about their landlord. But you want to make sure that things in their life are going smoothly, more or less, if they're on good terms. That's great. That means they probably have a way of dealing with longer term relationships in a better way. If they don't, I would do some more digging and find out a little bit more about them.
But if they have friends or family, that is a blunt one up until. Very good. All that doesn't make anything important until we get to the money part, if they don't the money part, I require the first month's rent and a one month security deposit before we even sign the lease. None of this deferred security deposit deferred first month, the furthest. I've heard that.
Now, if you're not ready and I encourage you, if they're not ready with the money saved up, they're not ready to move when they need us, they need to have a little more time or they're not the right person if they can't save up the first month's rent and the security deposit, that shows me that they probably have some more financial issues that I am not going to start paying for. You have your bills. I have my bills. Don't expect me to pay your bills, and I'll never expect you ever for you to pay my bills.
So keep that in mind. The money is the most important concept. The most important idea. What questions do you guys ask? Those are the three most important ones.
Seriously, if we can't get those three on board, we're in trouble. We're not human in the next step. Thank you for calling or done company. Well, I want to see what you guys ask and make sure to see the next video, because I'm going to talk about some mistakes I've made, which I'm putting myself on blast. But here we go, talk to some.