Finding/Screening Tenants

[Chris Heeren]

I just bought my first rental property last month and am just finishes up the remodeling and ready to rent the bottom unit out. I made a quick post on Craigslist and have received 10+ phone calls in the last 2 days. I'm trying to figure out where to start on screening the tenants? I'm printing out a generic rental application form and figured I would have the interested parties fill it out and submit it back. My question is there is some very detailed and personal information I'm asking for on these and am concerned with people giving this information out to a complete stranger over Craigs list. Do people recommend showing the unit first, then ask for a rental application to be filled out? My thoughts would be to weed out people with evictions even before I do a showing. I didn't think about the fact I may have 10 people fill this paperwork out and now I would at least say "sorry" to 9 of them?

Also, I suppose I should only show the unit to 1 person at a time? I don't know if the idea of taking 2 or 3 people to see the unit and also okay their application form but still end up turning them down? Also my biggest worry is once they see the place they'll decide they are no longer interested and don't want to reject a 2nd or 3rd applicant if the first wasn't even interested.

Just looking to see what other people recommend as a solid approach to screening and showing units to a tenant. Trying to not put the cart before the horse here or get myself into a bind?

[Jeff Bridges]

@Brie Schmidt has a great system in place. I second it as a good system. Accepting applications before the tenants really know what the place looks like is a waste of both of your time. It doesn't hurt to list out some of your application criteria both over the phone and again at the showing to have applicants self-disqualify before you need to pour over their financials to find the same thing. Things you might want to share: 3x rent needed in income, no prior evictions, credit/background check performed, prior landlords will be called for reference. Finally, open house style showings are the way to go both for your convenience and to generate a sense of urgency to apply quickly when many are at the showing at same time...