Our standards of yesterday may end up excluding up to 40 percent of your applicants. In order to keep your property rented you may have to modify your rental qualification standards.
The entire lending situation has created a new class of tenants. Individual tenants recently were homeowners and have now become tenants again. I have made a business decision that a foreclosed individual does not provide as high of risk as in the "old days". So even though this individual has lost ownership of a home, I believe he/she may be a reasonable risk.
Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.
Peter Meer provides information, resources, advice, tips, and techniques on residential property management in Denver. Peter Meer is President/Broker of Meer & Company, Inc. (303) 322-1550 and manages 150 single family units in metro Denver. Visit Meer & Company, Inc. at www.meerandco.com.
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