36it36 its of informational articlesHomeBusiness and ManagementHouse and Homepool serviceProperty ManagementReal EstateUncategorizedSubscribe to RSS FeedWhat Questions Colorado Springs Property Management Companies Ask Potential TenantsLeasing a property to a tenant has its own prerequisite which is known as the placement of a tenant. To find a good tenant, any professional or recognized company that offers Colorado Springs property management needs to interview several prospective tenants. Some questions are there to help property managers determine which tenant(s) they can choose for the lease. These questions are usually considered to be qualifying questions which help managers to sort out the best tenants. Practically, these questions can be prompted through face-to-face conversation or over phone. Conversation over phone can be viable since it will save time.It is mandatory that Colorado Springs property management comes with the same questions for every interested tenant so that no accusation of showing discriminatory selection procedure emerges. Asking the same questions to all will also be helpful for managers top gauge the real prospects of tenants. Following are some of those questions which must be asked before leasing an investor’s property to anyone.Questions about tenants’ monthly income:An ideal sign that substantiates the ability of tenants to pay the rents is that the interviewee tenants have a monthly income which is 2.5 times their monthly income. This question helps determine the financial ability of tenants to bear the rents.For example, if the rent of a property is $2,000 each month, the managers will check to see if the tenants have a monthly income which is more than or at least equal to $5,000. However, monthly income cannot be the ultimate factor to tell that a particular tenant having the same income can be a good fit. An associated consideration is the monthly payable debt which many tenants have to pay. This information will help managers to determine if the tenants will be able to pay the rents in due time each month. In general, Colorado Springs property management requires full credit report from tenants to get the amount of payable debit each month.Questions about the first month’s rent and security deposit:Property managers must ask new tenants if they can pay the security deposit along with the first month’s rent upon their arrival at the property. Answers to these questions will depict their financial picture. If a tenant replies that he or she cannot pay the required money up front or request the property manager to allow him or her to pay those essential expenses a week or two after his or her move-in, the manager should get the idea that the tenant will not eventually be able to pay the rent on time. Also, investors who rely on their property managers in this regard will not be happy to know that their properties have been leased to tenants who already owe them money. There must be no exceptions to the condi