Real estate isn’t always glamorous million dollars houses and thousand dollar paychecks. There can be small homes, dragged out closings and even a few rentals thrown in the mix. This is great for many agents, since they can learn to build their business on a smaller, steadier income while their large houses and commissions take longer to process. The only issue with smaller paychecks is that when you put hours of work into them and they fall through, you can be left feeling frustrated and used.

One of the areas many agents will avoid is rentals. Rental properties may only yield a one month’s or half a month’s commission, which can be a very small amount of money for a lot of work. One of the most important things to do as a real estate agent working on rentals is to pre-qualify your tenants. Pre-qualifying tenants will help you weed out the tenants who will be able to rent versus the ones who will end up being rejected anyways. If you’re hoping to pre-qualify your tenants better, try these tips:

Make sure they have the money – Nothing is more frustrating than driving around renters that are looking before they have the money to move; most good rentals will move quickly and if your client doesn’t have the security deposit ready to put down, you’re basically showing them places they can’t yet afford. Make sure they have at least enough in their bank account to place a security deposit on the Denver real estate for sale . If you need them to bring a bank statement, ask them. Most renters will gladly do so because they appreciate your help, and if they refuse, they’re often trying to hide something anyways. Let your clients know they can cross off any bank account numbers and that their information will be given right back to them, but that you need to know how much money they currently have and whether or not they can afford both the security deposit and the first month’s rent, or the security deposit and first and last month’s rents, which some landlords will ask for. If they plan on having a parent or spouse pay for the rent and deposit, ask for their bank statement.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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