Newbie landlord here, looking for some tenant screening advice

[John Matarazzo]

Hi all,

I've owned my property for 8 months now but now having my first tenant turnover. A few questions,

- Brandon Turner's property management book mentions on the rental application asking for the prospective tenant's checking and savings account balance. This seems a bit nosy to me but the logic makes sense. Is anyone else doing this?

- In the book, he also mentions sending a reference form to the prospective tenant's previous landlords to get information. Does anyone do this? If so how do you go about it? Sending a form seems impractical, I can't see myself taking the time to prioritize filling out a form I get from some random landlord.

- What do you require before showing the property to prospective tenants? Filling a pre-screening form, actual application or anything else? Obviously want to balance not wasting my time along with not being perceived as discriminating against anyone.

- I've been using the avail software and so far enjoying it. Has anyone used the rental listing and application feature yet? Any feedback or tips appreciated.

Thanks

[Greg M.]

You have the right to be nosy. You're turning over an asset valued at hundreds of thousands of dollars to a person you don't know, in the hopes that they pay and don't trash the place. 

My application asks for checking & savings account bank name, account number, and balance. Also asks for two largest debts. I like to see if they are honest with the debts when I compare to their credit report.

I would not send a paper form to the previous landlord. Pick up the phone and call them. You're much more likely to have them say something negative about the person on a phone call than in written and signed form. 

I'll show the unit to anyone, I'll be there from 10AM-1PM this Saturday. For an individual showing, I try to gauge the person over the phone. You can usually tell if they are serious and understand the requirements.