Rental Application
I am trying to get an idea of the process of screening tenants. What type of information do you ask for on the rental application? Is there a standard application you use. Do you perform background checks, credit checks, etc. When you show the property to a prospective tenant and they are interested do you have them fill out an application on the spot or do they normally take it with them and return it to you at a later time?
Thanks. Any info is appreciated.
This is the MOST importatnt part of the rental process. I encourage you to screen extremely well. Check references, jobs, last TWO landlords, background, credit, etc.
I am attempting to upload a rental application into the freebie section of this website. I haven't upload before, so we'll see if it works.
[ Edited by 64Ford on Date 10/07/2003 ]
I have added it in with some minor modifications. I made the PDF using the new FREE http://www.OpenOffice.org software.
Thanks. I just downloaded the application from the freebie section.
Most of the time, when a person takes the application with them, you NEVER see it or them again!! Encourage them to fill it out on the spot. Most people do not have the application fee with them though and use that as the excuse to take the application with them. I have tried "no app fee" , but the problem with that is people just apply and then you spend your money running credit checks and the person is now not interested. I will not do that again. I am just reducing my appl. fee to basically "at cost" for the credit check. $10.
Hey,
I could not agree more...if they walk out the door with the application, you will never see it again. Also, waiving the App Fee is just a waste of money.
The only thing I can recommend for getting more application completed is:
1) Make it easy for them to fill it out then and there. Have a nice table big table and chairs to sit in and lots of pens. I have found that making a bunch of flyers and putting them in a Brochure Rack (plastic) works realy nice also.
2) Make the amount of the Appl Fee small enough that they would have it in cash on them. $30 - $40 is a good number.
3) Have receipts for the fee to give them.
4) If you meet a lot of resistance about the fee, tell them the the tenant that is selected gets the Appl Fee off the first month.
I hope that helps!
Thanks for all the advice. From the coffee brew to the feeding frenzy. Terrific!
Question, what are the costs for doing background/criminal and credit checks?
What is a typical vacancy period? 1 month? two?
Thanks again
-Ariel
I'm curious how you choose from all of the qualified applications you receive. I've heard that if you dont take the FIRST qualified applicant, then you can have problems with discrimination suits.
If the first person that meets the qualifications seems like someone you wouldnt want to do business with, how can you choose someone else without risking legal problems?
Hey,
My typically vacancy is 1 month. That means from the date the tenant moves out until the date the next starts paying (I don't care when they move in).
Generally, it takes me one to two weeks before a house is ready to show. That includes painting and new carpet. I can only remember a few times I didn't have to get new carpet, but I do buy cheap stuff. I paint the house myself.
Then two weeks of open houses and it rents.
I have also heard about the problem with having a "qualified applicant" that you don't want, but it has never happened to me. In all honesty, how would anyone know which application came in first? To be on the safe side, just say we have received one or two other applications when anyone hands in the app.
Good Luck!
Quote:I'm curious how you choose from all of the qualified applications you receive. I've heard that if you dont take the FIRST qualified applicant, then you can have problems with discrimination suits. kaschlegel,
In the blank space at the top of your application form, write in the number 4. Make the number large enough for the applicant to see it, and make sure the applicant sees you do it.
When you accept someone else, and this applicant questions why, you only need to say an earlier applicant took the unit.
Avoids a confrontation, since the applicant "believes" his application is the fourth in line. How would he know that all your applicants are "fourth in line".
Unless they are in a line and two people see you do this.
I guess you could write 5 but what if #5 is the "desirable" person?
There are web sites that perform credit and background checks. For a minimal $20 you can get a credit check. Go to search and look up "Credit Check" <IMG SRC="images/forum/smilies/icon_wink.gif"> [ Edited by demolady on Date 10/10/2003 ]
Quote:Unless they are in a line and two people see you do this. I guess you could write 5 but what if #5 is the "desirable" person?yehoshua30,
If you never accept an application on the spot, you never have this problem. Should another applicant call to ask why he was not accepted, you say, "I accepted an earlier applicant."
If you start your tenant search with all the decision criteria outlined from the onset, you will not have any problems. Bottomline: decide what you will or will not accept before even taking applications. Example: If you don't want smoking, drug use, or pets then let the applicants know up front. Also, you should pre-determine the minimun credit score you're going to accept for tenancy. Those applicants who are denied on the basis of bad credit must be told so, and then must be informed of the credit bureau you used. Alternatively, you can offer tenancy to a poor credit scorer on different terms, (i.e. a higher deposit, several months rent up front, etc).
So, on what other grounds would you deny a tenant the property, (racism, sexism, age discrimination)? Why would you lie about who turned in an application first? If you're doing business like this, it will bite you in the end.
Set the criteria first, stick with it, and be up front with your applicants.
v/r,
jkscheele