Do you want to know about one of the most important things in managing a property? Its tenant screening for evicting the bad ones before they even move in. There are so many landlords having issues that they had to clean up like unworthy tenants, or they haven’t paid the rent for over 3-months or so.
In that case, the homeowners have to go through all the headache. It all happens because the property owners don’t do the proper tenant screening. Seriously, it’s all about the screening. This is exactly where most unprofessional landlords and even some pros make their biggest mistakes.
First, let’s look into what the rental application should be like. To pros, it’s as good as the job application. It’s like they’re applying to move into your house and pay you to live there. Let take a good look at the information every application needs to have. But don’t forget to check your fair housing guidelines where some mistakes are made. Every rental application should at least include the following, so let’s dive in:
- Complete name of applicant
- Date of birth
- Social security number
- Current address
- Previous address
- Home, work and mobile phone numbers
- Email address
- Driver’s license number
- Emergency contacts
- Number of occupants
- What type of pet, so they have?
- Rental history
- Current and previous landlord contact information
- Employment information and Income information
- Monthly gross income
- Statement of consent that allows you to run credit criminal
- Where they found the property, for your marketing purposes
Always make sure that the application is filled out completely. When someone submits an application to you, and it’s got some missing field, just get right back to him, make him fill it out and ask to submit it again. The nice thing about online applications is that you can set required fields, so those important things are not skipped.
Never think that every minor information is useless. It’s not the case at all. For instance: the potential tenant didn’t provide the emergency contact information. You can think it yourself that that emergency contact information can be beneficial for the recovery. Therefore, you must ensure that every little information is provided.
How can I forget name of one company that rents apartments in Dubai as for making things easier for us during article writeup!!
Now you have gathered all the information it’s time to verify. It’s a significant step in the application process. Some landlords do this a lot of different ways. It’s better to outsource it to a screening company where you’ve given your criteria to, and they do the application online, they screen and give you a thumbs up or thumbs down. It’s completely automated and avoids a lot of fair housing issues.
Other landlords require a lot of the verification on the tenant. In other words, they require the tenant bring you income verification through a bank a bank statement, ID copy and different things etc. in short, they simply burden on the tenant to fill it out and complete it with their application.
Best Way to Verify
Some pro landlords require the tenant to provide them with letters of recommendation from previous landlords. By having tenant provide all these things, you’ve just verified
- Previous rental history
If you want to call and check if the whole pictures make sense, that’s up to you.
Here’re a few important things you must verify:
- Employment information.
- Financial information
- Rental history
- Run a credit report
- Criminal background
The thing to remember on the application is you set the criteria for them to be approved. Outside of fair housing guidelines, you set this whole process up.
For example, the Income is maybe 3x their rent amount. If the rent is AED1000, they need to make at least AED3500 afford this.
So these are some critical things that every landlord should keep in mind while heading to deal with stuff like apartments rental / living.
Do you want to learn more about how you can filter out bad-tenants before even letting them in? Just check out the article now