Rentals

If it ever comes up, I really, really hate chasing rental leads. I do it for the following reasons:

1. I work for a property management company and we have vacant rentals from time to time.
2. I am referred to by other property management companies who like me and have given me a lot of business and I want to keep them happy because I sell all of their owners' homes.
3. I am referred to by past clients.
4. My kids are addicted to groceries and electricity.

Rentals pay a small stipend, and as the demand is high, and the supply of rental homes is low, the stipend is less and less. For example, if I have to show someone rentals on more than two occasions, I am probably spending more money on the gas than I am making. Also, the small stipend doesn't stop the amount of work that goes into finding a rental home.

With supply low, one might think potential tenants would have an idea: if it is vacant, take it. But no, most potentially homeless people think of shopping for a rental home as just that, a shopping excursion. "I don't think I can live with that color of eggshell on the walls..." or "I am not sure my grandmother's prized hutch will look right with the afternoon sun shining through the west wall..." When what they really should be thinking is "This house meets my criteria for price range/school district/everything else and doesn't have any applications on it. Where do I sign!???"

The one saving grace about being willing to find potentially homeless people rental homes is these potentially homeless people often are willing to buy (especially if they have good credit and are too picky about renting a home) or they are willing to buy next year. So, a potential renter is really a potential sale. So, there is a silver lining. Sometimes.

Right now, as we are rebuilding our lives, I am handling a lot of rental clients. None of them seem to understand the concept of supply and demand. But I am at a point, especially after the crazies of late, where I am thinking it is time to take a break from these folks.