Five Minute Friday #10 - Screening Prospective Tenants

So, you’ve shown a property and collected applications from prospective tenants. Though you may have a gut instinct around who is the best fit, it’s critical that you put ALL potential renters through a consistent screening process. What does that look like? On this edition of Five Minute Friday, Bob walks us through the process of establishing a set of criteria for screening prospective tenants. He shares North County Property Group’s published guidelines, discussing what questions to consider in terms of income requirements, proof of income and minimum credit score as you set your screening standards. Bob goes on to address what considerations to make around previous evictions, bankruptcy, negative landlord references and pet restrictions. Listen in for insight into North County’s digital application process and automated screening for criminal record, credit and eviction history—and learn how we work with property owners to select the most qualified tenants for a given property! Topics Covered [1:09] Why it’s crucial to have a published set of criteria for screening prospective tenants [1:32] Developing a screening process to determine if an applicant is a match [1:46] North County Property Group’s rental criteria [2:15] Bob’s advice on placing the Fair Housing Statement front and center on your application criteria [2:25] Questions to consider re: income requirements and proof of income before setting your screening criteria [3:13] Determining the minimum credit score that will qualify under your rental criteria [3:57] Considerations around previous evictions, bankruptcy, negative landlord references and pets [4:25] Establishing a process for completing a rental application (i.e.: paper or digital) [4:47] North County’s automated screening for criminal record, credit and eviction history [5:02] Checking with previous landlords for rental references as well as verifying employment and cash reserves [5:17] How North County works with owners to select the most qualified applicant for a given property Connect with Bob North County Property Group Resources Mentioned North County Property Group Rental Criteria This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube. Connect with Bob Preston https://www.propertymanagementbrainstorm.com/ This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.