Class C property investors: What CRITERIA do you follow?

[Cameron Riley]

- Only Post if you own more than 2 Class “ C “ rental properties

- For the tenants that apply without section 8 voucher, how do you process their applications?

- I often find them asking, what’s the process and I hate just explaining it over and over. I am thinking of handing out a paper, that simply explains the criteria we search for..

- Average credit.

- Been employed for a stable time

- No more than 1 eviction.

[Account Closed]

I own several in class C/B-. 

Zero evictions, stable work and rental history, no 'bad' criminal history (drugs, violence, fraud, etc), no unpaid utility or landlord stuff. Must have a bank account. No smokers. Pet friendly.

I created a phone tree that makes them answer a series of prequal questions (press 1 if you have ever been evicted, press 2 if not, etc) and only connects them thru if they pass. I am in software so used twilio and a script I wrote. 

Then all adults need to undergo the credit and background check and show ID at the showing. 

I do keep my units very clean, and set rents a smidge lower than a comparable on the market to attract the best tenants.  

Basically since I am self managing I want zero drama and good long term tenants.