Getting to list for rent for the first time

[Austin Bright]

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?

[Kevin Coco-Senyszyn]

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.