How do i find high quality tenants? HELP

[Jordan Deaver]

I am currently a small time landlord. I have 2 properties for rent. Both 2 bed 1 bath. 900 sq. ft. . They are both newly remodeled, not top shelf but fairly nice. I had a bad tenant and now I am really desperate for good tenants. Please give me the complete run down and all your suggestions for tenant screening.  If you have a rental application or any documents you are willing to give me I would greatly appreciate them. 

[Nathan Gesner]

Quote from @Jordan Deaver:

General rules: they should show verifiable income approximately 3x the monthly rent. Look at pay stubs or letter of hire, call the employer directly. People can buy fake paystubs online, so know how to verify they are real.

Credit score must be at least 615 but anything below 700 should be scrutinized. You should actually read their entire credit report to see if they have collections, judgments, bankruptcies. See if they pay their debts on time. Do not rent to anyone with an open bankruptcy filing. Look for excessive credit inquiries, new cards, new car loans, etc. You are looking for stability and responsibility.

Landlord reference for the last year or more. If they give you the name and number of a property manager or apartment complex, search online to see if the contact information is legit. Call them with a list of questions (any lease violations? late payments? Did they terminate appropriately? Did they have a pet? Did they get their deposit back, or were there deductions?)

Criminal history should be clean. However, a conviction doesn't necessarily mean you deny them. Are they a danger to yourself or others? If the spent time in prison but have been out and clean for ten years, there may be no risk. If their crime was drunk driving and now they walk everywhere, it wouldn't be a disapproval. If they were dealing drugs and just got out three months ago, that's high risk.

Everything you do is to evaluate the amount of risk they present. Risk doesn't necessarily mean you deny them; you can often mitigate risk with additional deposit or other conditions. It's a learning process that can't be typed into one forum post.