A majority of the problems that may arise in property management can often be prevented with proper tenant selection.
In general, we look at an applicant’s past behavior and assume their future behavior will be the same. An applicant must demonstrate a consistent and hopefully verifiable history of being a good, responsible tenant or previous homeowner. Additionally, the applicant must meet standardized financial criteria.
Once an applicant expresses their desire to rent or lease a property, they are given a Rental Application to complete and return with funds for credit and processing. Once we receive the completed application and funds, our selection process may include an investigation of an applicant’s history by checking out:
* LANDLORD REFERENCES
* CREDIT REPORT
* DRIVER LICENSE VERIFICATION
* PROPERTY TAX SEARCH
* EMPLOYMENT/INCOME HISTORY
* OTHER FACTORS
If all of the above information checks out, we then schedule a sit-down interview with the applicant(s) to go over the application (make sure there are no open questions) and the lease/rental agreement (to let the applicants know what will be required of them as tenants.) If the owner wishes to be a part of this interview process, they may. If they do not wish to be a part of the interview process, we will do the interview on the owner’s behalf and then will call them with a recommendation and/or other related information (*). The owner can then make a tenancy selection decision and we will notify the applicant(s) accordingly.
* Note: we try to involve the owner in the tenant selection process because: it is their property; it will be their tenant not the property management company’s; and it allows the owner to be “actively” involved in property related directives.