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Updated over 1 year ago on . Most recent reply

User Stats

155
Posts
31
Votes
Austin Bright
31
Votes |
155
Posts

Getting to list for rent for the first time

Austin Bright
Posted

Hi guys,

I'm getting ready to list for rent for the first time and am curious about your rental application criteria for tenants? This is what I'm thinking. But honestly, it seems like it might be too cumbersome? I'm not sure.

1. I've always seen gross income must be 3x rent. Must be willing to submit to employment verification

2. Must be willing to submit to and pass a criminal background check

3. No pets

4. 1 month's rent to be kept as a security deposit due upfront

5. Tenant responsible for all utilities

6. Must provide 2 years of residential history and contact for previous land lords

7. Tenant required to maintain renter's insurance

Are these reasonable or too picky. Is there anything I'm forgetting?

Most Popular Reply

User Stats

62
Posts
37
Votes
Kevin Coco-Senyszyn
  • Property Manager
  • Keller, TX
37
Votes |
62
Posts
Kevin Coco-Senyszyn
  • Property Manager
  • Keller, TX
Replied

For the pets, I would take a look at what specific breeds of pets won't be covered by insurance companies if there is any liability or damage that arises. As @Joe Scaparra said, you'll be cutting out 70% of your potential renters if you don't allow pets at all. 

Some PM companies have access to more powerful screening tools that can be used to verify income streams. If you're accepting paystubs from your applicants, just be sure that they are legitimate. It's easy to create fraudulent paystubs and we see them pop up all the time. 

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