How to select from multiple applicants

[Ashley Russell]

We recently held an open house for one of our SFH rentals and received 4 applications within hours of each other. We had great first impressions of all 4 sets of applicants. As I wait for my third party to complete the screenings, I am thinking ahead to how I will make my selection. We are screening for criminal record, eviction history, rental history/previous landlord references, and reviewing credit and employment history. Is there one criteria that I should weigh more heavily than another? Our last tenant lost his job, up and moved back to his hometown and broke his lease. We spent over his security deposit making repairs and cleaning up. Needless to say, I am most focused on finding a tenant that will stay for the duration of their lease at a minimum and take care of the house like its their own. But these things are hard to screen for. Do I favor someone who has roots in the area (i.e., has lived locally longer) or who has more than one positive former landlord reference over someone who has a higher credit score or a perfectly clean record? This home is also in a B-/C+ neighborhood so I don't want to get someone in who is going to have second thoughts about the neighborhood and want to break their lease. This is why I tend to favor those applicants who have already been living in the area vs. someone coming from out of town or across town. Any insight is much appreciated!

[Nathan Gesner]

It's very, very rare that you have "equal" applications. Someone looks better than the rest.

1. Who makes the most?

2. Who has the longest rental history? The longer they stay in one place, the better.

3. How long have they been in their current job? A person with just six months on the job is pretty weak while someone with the same company for ten years would look strong.

4. Married or single? Married is stronger than dating or friendship. Married with children is even stronger.

5. Check their credit activity. Opening a lot of accounts? Carrying a lot of debt? Missing a payment here or there? Collections, judgements, student loans?

Those are just some examples. Learn how to screen properly and the better applicant will stand out pretty easy.