How to prescreen with Cozy

Question

Hi all, I am new and this is my very first looking for a renter. I am thinking to use Cozy to accept applications (e.g. credit report). One question, how do I do prescreening with Cozy? Do I do pre-screening off-Cozy before giving them the cozy link? or Cozy allows me to manage prescreening as well? I don't want to ask them to pay for the credit report unless I am almost certain to go with that person.

Sorry for the beginner questions. Thanks

Sorry for the beginner questions. Thanks

Mike McCarthy · Answer

@Andy Chen for what it’s worth, this is how I use Cozy for my applications.

* list the rental in Zillow and others. I get a lot of success from Zillow, though some like Facebook or Craig’s List.

* coordinate showings. I try to do some pre screening via email/phone before doing a walkthrough.

* showings, I try to show in 15-minute increments. I try and get a good feeling about the tenants character.

* every tenant gets a thank you email and link to the Cozy application. (Don’t want to discriminate at all)

* I tell every tenant to complete the application if they are interested in the house, but DO NOT do the background/credit check.

* I review each application and based on my review criteria, I select one and give them the thumbs up. I ask them to pay for the checks and as long as they come back as expected, they have the house.

* hopefully, they come back clean and quickly. If not, I decline and move to the next.

* I give the now approved tenant 24 hours to sign a deposit to hold, and provide a deposit equal to one months rent.

* Once I get the signed doc and check, the house goes off the market and other applicants get notified.

It’s never quite as easy as it sounds, but overall I’ve had good experiences. My big focuses are getting the best tenant in, and not making other pay for background checks. I want to make sure I’ve vetted them before they pay $40 each. I figure, the checks are just to prove what they’ve already said. If they were gibbing, it’s their own problem.

Good luck!

Andy Chen · Answer

@Mike McCarthy I really appreciate your steps. This is exactly what I am looking for. This really helps a lot. I am going to set up my system too.

Andy Chen · Answer

Yes, that totally makes sense. For viewing before current lease ends, I guess as long as I have the tenant's permission, it should be okay. Because I just got this property, I don't have any good photos for ads besides the ones on the Redfin or the ones on the listing posted by the previous owner. What is your suggestion? @Rob B.

Rob B. · Answer

Definitely want to make sure you start marketing your listing before your current tenant's lease is up, however, there are some restrictions when it comes to having overlapping leases. Depends on your state but generally you wouldn't have overlapping leases on the same unit.

If you have an interested applicant and they pass your screening criteria, the lease they'd sign with you should have a lease start date that begins after the prior tenant's lease ends. @Andy Chen

Andy Chen · Answer

@Rob B. very appreciate your info and sharing. I believe once I experience it myself, I will better understand my requirements for the system. A related question, is it easy to rent out a unit before the current tenants moving out? or it is not a good practice at all. I am trying to reduce the vacant time. Thanks

Rob B. · Answer

Hi Andy, Great question. There are definitely some tools that can help with managing that screening process. Cozy is a good tool, but there are definitely others worth giving some serious consideration. Aside from providing the basics (ie. listing capability to get the property published to 10+ major sites; scheduling tool to schedule viewings, etc.), tenant screening is super important. With comprehensive applications -- including pulled reports from TransUnion and nationwide criminal background checks + credit score + full credit history breakdown + eviction history -- the right platform should make it as seamless as possible for you if you're managing on your own. Depending on the tool you use, it can be a great way for the prospective tenant to only need to pay an application fee once (which would include current credit score and a breakdown of their credit history, nationwide background check, and eviction history). This way, if they don't successfully get approved to lease your rental they can still take that application and apply for another listing without having to pay for another app within the time frame of 30 days. Again it is always of best practice to make your own decision based on whether or not the applicant has met your screening criteria. I hope this helps! And best of luck on your decision! @Andy Chen

Andy Chen · Answer

@Joshua Ferrari Thank you. That makes sense. It also helps weeding out people are not serious or who don't think they are qualified quickly.

Joshua Ferrari · Answer

You won't really know whether or not to go with them unless you get the screening report pulled.

Obviously you can vet their character, personality, professionalism, etc., but for financial and background check sake, you've got to get that report.

Plus the tenant pays for it and not you, so you aren't out any money. Sure it sucks for the tenant if they pay the money and then you don't pick them, but that's the way it works everywhere and the prospective tenant should know that coming into the application.

How to prescreen with Cozy

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