Tenant screening & application process

[Chris B.]

Planning to get my first multifamily property by the end of summer and wondering how to go about selecting the right tenants. At work part of my responsibilities include bringing on new talent to the team. I’m usually a pretty accurate judge of character and experience when dealing with an applicant; however, having a resume (and any other submitted materials) goes a long way to weeding out those that don’t make the cut. I realize nothing replaces meeting the applicant in person, but was wondering if anyone have experience in this field and know if the same strategies apply to picking the right tenant?

What documentations do you usually require during the application process? Do you find that the simple fact of having a more involved application process helps deter less desirable tenants (or just deters overall interest)?

[Kelly N.]

Hi Chris,

Check this out, it has been a HUGE help!

https://www.biggerpockets.com/forums/52/topics/82174-ultimate-guide-to-tenant-screening-and-renting-your-house

I have them see the place (most in my area are already familiar with the location, but if they are not, have them drive by and call back if interested), and if they are interested they get an application to fill out on the spot, or fax or e mail back to me. I want their full name, DOB, SSN, driver's license number, current and previous addresses (I like a 5 year history but it isn't always possible), info on their current job. I like to know when they want to move, and if it is less than a month that they've already given the current landlord notice :)

At some point, sometimes on the phone or during the showing, but always before they fill out an app, I inform them of the security deposit amount, and that it and the first FULL month's rent is due before they get keys. (I'll prorate the second month if they don't move in on the 1rst) I tell them about our screening process- I check the references on their app, then they'll get an e mail from mysmartmove.com. They can pay me the $30 app fee, or pay it through mysmartmove.com. I let them know their credit will be checked, along with criminal background and past evictions.

That last part is HUGE- I've had quite a few loose interest once they find out I will check them out thoroughly. I had just explained about the background check to one lady who then got flustered and blurted out 'Well, you don't check criminal, do you?' Uh, yeah, I do and it sounds like I would need to in your case :)

Check those landlord references! I thought I was a good judge of character too, and was thinking one couple was great til I found out they owed 2 out of 3 landlords money...

Kelly