Written Tenant Rental Criteria

[John Curry]

I recently read that to avoid or minimize a lawsuit, a property manager should have a written policy about how a applicant is qualified and if they have all the qualifications, it is first come first serve for that rental. To minimize having to rent to an unworthy tenant, having a strict criteria in writing could save you tons of legal headaches. 

That being the case, does anyone have a written applicant policy and if so, would you be willing to share it? 

I know there have been multiple discussions about credit scores and having background checks on your applicants but no one has suggested that they have a written set. 

I understand that the many areas of consideration would have to be tweaked for both the property and the management, but looking for a starting point that may assist in thinking out the policy we want to incorporate.

Thanks,

[Lee Snyder]

Hello @John Curry,

A great book I just read The Book on Managing Rental Properties  by Heather and Brandon Turner has all the info your looking for!  Its also a great book for a newcomer like me to learn there systems. In the back of the book are all the forms you may ever need and you can go online with the link that is all over the book.

The exact outline of tennat qualifications you can print up is in there.  I have read that book and highly recomend it. I would suggest any form you use run it by your attorney.  I to am just starting out and printed all my forms and put them in a binder for my attorney to review.

Good luck to you on your investing journey!!!