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Updated 6 months ago on . Most recent reply

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Rajesh Sharma
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Is this standard practice of PMs in Arizona?

Rajesh Sharma
Posted

We are looking for a professional property management company to manage our SFH rental property in Arizona. One PM we talked to (and liked in all other aspects so far) has a practice of not sharing any detailed information about the potential tenants that will be placed. Their practice is to just share a very very brief summary of the final tenant they place. And the summary is basically the name of the tenant, if they have pets, and few other captions about the remaining screening parameters with a notation of "meets criteria". No additional paper work or evidence of background checks performed, or even what the credit score is. Is this common practice in AZ? They do provide eviction guarantee for non-payment of rent.

We have another rental property in a different state , managed by a PM, but we have always been provided all the paperwork of the background checks done. The final say on who gets placed is ours.
So, this approach is completely  new for us. Trying to get feedback from folks here on how you would feel about it, if you were the property owner?

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Rajesh Sharma:

Yes, this is how a professional operates.

I manage around 400 rentals. My office processes nearly 1,000 applications per year. What experience or knowledge would a private landlord possess that could possibly add to my screening process? Nothing.

I am a professional, and I know how to choose quality tenants without violating Fair Housing discrimination laws. I do not have the time to involve the landlords in the decision-making process, and there's no benefit to it for me or the landlord.

Once selection is made, I will notify the landlord that a tenant has been selected. Example:

"The tenant is a husband, wife, and one child. They signed a one-year lease starting August 15th for $2,350 per month."

That's more than enough.

  • Nathan Gesner
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