Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago on . Most recent reply

User Stats

95
Posts
31
Votes
Shawn H.
  • Investor
  • Carbondale, IL
31
Votes |
95
Posts

Rejecting Applicants

Shawn H.
  • Investor
  • Carbondale, IL
Posted

When you select a tenant, does everyone notify all of the other applicants that they are being rejected? Or do you tell applicants when they apply, that you will only notify them if they are approved?

Most Popular Reply

User Stats

13,451
Posts
8,349
Votes
Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,349
Votes |
13,451
Posts
Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

There are a few different categories of "prospective tenants" that do not get the unit.

First are the tire kickers - they will take an application and never fill it out; you might see or hear from them later even, but they don't ever get to the point of completing the paperwork.

Next are the unqualified. I present the qualification criteria in writing so that they can all make their own determination of whether they have a chance of qualifying. Sort of like tire kickers, but these are ones who really want the place, but won't qualify; they still want to take an application, and they even sometimes complete that application. I review the applications when they are completed. If the income does not come to a high enough number, I return the application on the spot.

Next are the ones who at first glance have a chance of qualifying. They give you an application, and from the info on it it looks like they could meet all qualifying criteria. But upon further investigation (screening), they have prior evictions, convictions, judgments, unverifiable income, etc. So for whatever reason these are rejected, and I will send them a denial letter that conforms with Fair Credit Reporting Act.

Next are the ones who were in line behind another application, and that other application is the one you ended up approving and accepted as the new tenant. So these applications are all not processed in any way, and are returned to the applicants, with no determination one way or another as to whether they were acceptable / qualified. Along with a brief note explaining that another earlier applicant was qualified and accepted.

Did I miss any group? If so, please post below ...

Loading replies...