Time to allow for return of verifications

[Amber G.]

Hello, newbie to forums here. Have 3 rentals, but hitting head on wall with most recent purchase getting rented out. Guess maybe I just got lucky before.

I've spent the last 3 weeks on 2 applicants trying to get their verifications returned and then, once we're at the end or I'm giving up and saying it all looks good enough with what I have, they back out.

Any ideas for avoiding this? Both these applicants have been potential red flags on various issues, so maybe I've dodged a bullet, but I've also missed a month's rent now. And of course I'm 37 weeks pregnant and had hoped to get the lease signed before labor started, ha. I've never had this much trouble getting employers and landlords to respond to verification requests. I use a signed release. Maybe Memorial Day was part of the problem this week, but it's still been mind boggling. Is failure to get a verification back within 24-36 hours just another red flag?

I've been trying to work the apps one at a time, figuring that was best practices, but I'm tempted to go into a policy of application free-for-all. I turned away and stalled a lot of prospects dealing with these 2 applicants.

So a more precise question--is anyone putting a formal deadline on how long until the verifications come back or the app is considered dead in the water?

Is there some sort of contingent binder anyone is using? Nonrefundable deposit for wasting my time working your app? I even paid $20 to verify the wife's income on applicant #2, through one of those services, guess I was right to think I should've said that I needed her to pay for that and consider willingness to do so another screening tool. I'd just like to screen out the time wasters. I truly feel like both of these applicants failed to try to assist in getting the verifications very unlike how serious applicants have made sure I got what I needed, but it's been hard to pinpoint (besides a bad feeling in stomach around day 3) when I figured out that it was going to be another couple days and it would all not gel.