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Updated about 11 years ago on . Most recent reply

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Zack Kolb
  • Saint George, UT
0
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Must I take FIRST qualified applicant, or can I choose between applicants?

Zack Kolb
  • Saint George, UT
Posted

Hello,

With many thanks to everyone here at BP, I am now advertising my townhouse for rent.

Do we as landlords have to take the first qualified applicant? Or can I gather all the applications and then pick and choose.

I tried finding the answer, but to no avail. I also thought I remembered reading somewhere we have to process applications in chronological order. Is that true?

Last question, does each person living in the home need to meet the 3 times gross monthly rent? Or is it the combined household? (Example: Rent is $1000/month, so 3x gross equals $3000. Does each adult need to bring in $3k a month? Or if 2 adults are going to live there, each could only bring in $1500, combined to make $3000, and qualify?)

Thanks!

Most Popular Reply

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2,368
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Michele Fischer
  • Rental Property Investor
  • Seattle, WA
1,082
Votes |
2,368
Posts
Michele Fischer
  • Rental Property Investor
  • Seattle, WA
Replied

I changed my processes to accept the strongest applicant. I use a point system. If they have really low points they are disqualified. If they have really high points they are offered the unit. Mid point folks stay in a holding pattern to keep poking and waiting, and best applicant gets an offer if they make the baseline points.

  • Michele Fischer
  • Podcast Guest on Show #79
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