Date: November 9, 2017
How Do You Screen Potential Renters?
As your property management team, we thoroughly screen all potential renters. Property owners need to know that their investments can be trusted to responsible renters, so it’s our job to find out as much as possible before approving a tenant.
We only accept rental applications online and they should include as much information as possible. Incomplete applications are not considered and all applicants need to provide proof of income and driver license copies. We encourage our potential tenants to be as transparent as possible so we can find them the right rental property for their family.
What We Look For On A Rental Application
- Employment – How long has the tenant been at their current job? Have they frequently switched employment?
- Income Level – Can the tenant pay rent as well as normal living expenses?
- Financial Information – Credit card balances, as well as minimum payments, give us further insights into a tenants ability to pay rent each month.
- Rental History – We look at past landlords, gaps in rental history, as well as the reasons for leaving previous rentals.
- Lifestyle – the number of occupants as well as any pets or smoking habits and any criminal records.
- Personal References – names, the length of acquaintance, and phone numbers for personal and business references.
Once potential tenants have submitted the application we start the screening process. We do a credit check, background check and then a rental eviction check over the last three years.
Next, we verify the potential tenant’s income and compare it to the property rental rate. To make sure that tenants can pay their rent and living expenses, we require their income to be at least three times the amount of the rent on the property.
We are in compliance with Federal Fair Housing Laws and limit our inquiries about renter lifestyle to the number of occupants and tenant criminal records. We also respect property owners’ smoking policies and we make sure to educate every tenant on those policies, as well as conduct regular inspections of the property.
We require a processing fee of $40.00 from the potential renter.