Prospective Rental with no rental history, my qualification list

[Mandy Liu]

Hi - I showed my SFH to several prospective buyer yesterday. Neither has submitted the rental application yet. I sent them the link to apply via cozy. I told them once their application is accepted, we will proceed with screening which includes credit and criminal check from cozy.

I did not provide the qualification in writing, but verbally told them that:

1. Gross income must be min 3x rent, and only verifiable source.

2. No smoking allowed in the property.

3. No conviction or eviction in the past.

4. max of 2 pets allowed but with $250 pet deposit for each pet.

5. Must have good rental history or references.

6. Application will be processed FIFO. ( this is my understanding from reading this board)

7. Upon approval of application, tenant will be sent a cozy link for credit and background check. The cost is approx. $40 per applicant, and will be paid by tenant and not refundable. Max of 2 applicant.

8. Tenant will pay the 1st months rent and 1 month deposit when signing lease agreement. 

One of the prospect has no previous rental history and is currently living with other family. Could I outright reject the application or not send the application at all?  I just prefer applicants with rental history. 

One of the prospect has business bankruptcy a few years ago due to soft economy. He has been renting for the last few years and I could verify with his current landlord. 

1. Do I have to specify cut off day/time for me to accept anymore application?

2. I have a few more inquiries since yesterday. Should I continue to accept more applications, or can I just deactivate listing?

3. I emailed the application link in the order of showing, is that correct? Do I need to provide a deadline?

4. Do I need to provide in writing the qualification list?

5. When should I provide the association by-laws to the prospect. I just want to maker sure they are comfortable with the by-laws.

Please feel free to provide feedback on my qualification list.