Filling out an application before seeing rental

[Vincent P.]

Hello BP- i just purchased my first multi family in NJ. I renovated and listed one apartment on Craigslist and Zillow. I clearly stated in the add; credit, backround check, income verification and refrences required.  I am getting a few emails about prospects wanting to see the property. Should i show the property first then have them fill out the application and sumbit backround info or vice versa? Is there a generic rental application most people use? Thanks!!

[Paul Ronto]

There are really two ways to look at this. On the one hand, doing in-depth screening before you even show the property saves you a lot of time by weeding out people that don't meet your criteria. On the other hand, you will scare off some prospective tenants if you make them apply before they even get to see the property. 

I think the best solution, as stated in some other responses is to thoroughly pre-screen people over the phone, here's a simple list of 7 questions that will get you headed down the right path. 

1. Is this rental for you or someone else?

2. Why are you moving?

3. What is your planned move-in date?

4. How many people do you plan on living with?

5. What’s your current monthly income?

6. Can you provide employer and landlord references?

7. Are you willing to submit a credit and background check?

If you make it through those I would say, time for a showing. If you wanted to go a step further, you could do credit and background checks after this call, before screening but this still may scare some potentials away if there's a lot of competition out there that are willing to do showings pre screening. 

Feel free to DM me if you want to chat a little more about this, I have a few good resources I could dig up and share with you on tenant screening that may make this all a little easier for you to find good tenants for your properties.