Greetings

[Lexi L]

Hi Dave!

Thanks for sharing all of that! Sounds like you’ve built a solid portfolio and have a great system in place. I also love Montana and have visited many times. I’m curious, when you were filling those recent vacancies, did you notice any specific changes in the type of applicants compared to previous years? Were they mostly local renters, or are you still seeing people relocating to the area?

[Dave Turner]

Lexi – Many, if not most, of our recent new tenants were from out of state. Of the 2 most recent tenants, 1 was from out of state (as well as a few other applicants for the place) and 1 moved back here from Florida after the hurricanes and actually calls this area home.

[Joyce Beck]

I got a question too, Dave! First off I’m really impressed by what you have achieved in terms of your portfolio – RVs included! My question is, how do you handle the thing of references not getting back to you? I am rather impatient so for me, if the rest of the screening comes thru just fine but the references haven;t got back to me, I just draw up the lease anyways…

[Dave Turner]

Joyce – I, too, can be pretty impatient and intolerant with people who just ‘want a tour’ without filling out the pre-screener form. I don’t have a magic formula for this. I will say this: In selecting the right tenant, I rely heavily on the TT pre-screener and application, checking references and verifying income. BUT… right near the top of my list of criteria is what I quantify as “People who do what they said they would do”. Or, perhaps, people who do what they are supposed to do. I give heavy consideration to people who communicate well with me either by text, phone or email. I guess I consider that those who communicate and ‘do what they said they would do, tend to be a better risk, at least in my experience. If they’re lazy in communicating, there’s a pretty fair chance they’re going to be lazy in paying the rent, mowing the lawn, shoveling snow, etc. All that being said, I don’t chase after people. If they inquire, then I respond. If they don’t respond, I don’t do anything proactive to get them to communicate. No tenant is better than a bad tenant.

In re-reading your post, I see that you were referring to references not getting back to you. I’ll call back a second time (I always use telephone for references), but that’s about it. References are ONE indicator of many that we use, so, as I’m sure you do as well, I look at the whole picture and yes, sometimes I proceed and begin preparing the lease.

[Jonathan Forisha]

Good to see you, Dave! Thanks for joining the forum, I’m sure others will benefit from your experience.

[RealEstate Jot]

It sounds like you and your wife have built a solid foundation as property managers in Whitefish and Kalispell, with a well-organized system in place. Managing 13 residential properties and RV spots is no small feat, and leveraging TurboTenant and QBO for efficiency shows your dedication to running a smooth operation. The current market challenges, such as slower demand and flat rents, seem to be impacting many areas, but it’s great that you quickly filled your vacancies. Your commitment to thorough tenant vetting is admirable and undoubtedly contributes to your success. Looking forward to more insights from this forum—cheers. Read It For More Information!