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Updated over 10 years ago on . Most recent reply

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Brandon Schlichter
  • Real Estate Agent
  • Circleville, OH
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Posting requirements/qualifications on a rental website?

Brandon Schlichter
  • Real Estate Agent
  • Circleville, OH
Posted

We have a internal list of what we consider a 'good tenant'. I'm curious if it would be effective to list a rough outline of what is expected from a tenant, applicationwise on our website.

I'm getting tons of applications and interest via our website & facebook, so much so that pre-qualification of the mass of people is now becoming a top priority as I don't want to show someone one of our properties who has no realistic chance of getting it However, I want to avoid any discrimination/FHA laws in posting what we're looking for.

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

Edited: Hattie, you type faster, I'm not following you around, LOL

Good idea, to a point. How you say things matters. Don't post specific requirements, cut offs, ratios time on job, etc. What you can speak to are generalities like

Our income guidelines follow generally accepted rental requirements published by HUD, however we reserve the right to make adjustments in specific circumstances.....or something.......leave yourself room to both approve and deny.

I'd not go into detail. Another aspect, are the units apartments where tenants live side by side or homes where one tenant will not meet another, consider the grapevine and aspects of what's good for the goose is good for the gander, treating everyone fairly, equally, but that doesn't mean you don't have leeway.

A good term to use is "compensating factors" so, someone who has had the same job for 15 years, has disposable income may qualify at a higher ration than another with 2 years on the job, lack of credit and is stressed at ratios.

Might get better input if you print out what you expect to do, provide a link for review before you spill the beans publically. :) 

Good night.....

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