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Updated over 6 years ago on . Most recent reply

User Stats

129
Posts
20
Votes
Maria G.
  • Rental Property Investor
  • Northern California
20
Votes |
129
Posts

Do you disclose minimum requirements to applicants?

Maria G.
  • Rental Property Investor
  • Northern California
Posted

I have learned that requiring 2.5 to 3 times the salary is the norm. Do you let applicants know if they ask you?

On the one hand, I have read that it is better not to give out much information; on the other hand, I feel having them go through screening if they don't meet the minimum requirements is a waste of their time and money.

Thanks!

Most Popular Reply

User Stats

61
Posts
47
Votes
Nathan Schiess
  • Real Estate Consultant
  • Salt Lake City
47
Votes |
61
Posts
Nathan Schiess
  • Real Estate Consultant
  • Salt Lake City
Replied

@Maria G. Make sure to let anyone who wants to apply to do so (this is to protect your self against Fair Housing lawsuits). You can always deny an application, but you must give everyone the equal opportunity to apply. Provide every prospective tenant with your rental criteria and then if you need to deny an application it can be on the grounds of "Did Not Meet Rental Criteria". This keeps you safe and also saves you and prospective tenants time and money.

I have included our rental criteria for your reference. Yours might be different, but this will give you a good starting point. I hope this helps. :)

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