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Updated almost 4 years ago on . Most recent reply

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Clark Coffey
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Ideas to better filter potential tenants needed!

Clark Coffey
Posted

Hello all, I'm so grateful I found this forum and I appreciate everyone's advice. You've all been so helpful so far.

It seems no matter how much I reiterate my application criteria in my ads and in my communications with people, I am inundated with people who don't qualify. At every stage of the process they take a considerable amount of my time. Ideally, I want to help people self-filter from ever making it far down the funnel without me having to take a large amount of my time to do so. 

I don't feel that my criteria are outrageous - 650 fico, 2.5x to 3x income to rent (im in SoCal), no violent criminal history, verified rental history w/no major neg feedback from previous landlord.

If any of you out there have some good tips regarding filtering applicants before they waste too much time, please share them - (how much qualification info do you put in your ads, do you reiterate this criteria in all of your communications to them, do you do pre-screening applications prior to seeing the units, etc etc etc). I've got 45 people a week replying to my ad for one unit, with 10 people a week asking for showings, about 5 of them applying, and so far none qualifying!

Thank you for your help!

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Adam Martin
  • Rental Property Investor
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Adam Martin
  • Rental Property Investor
Replied

I post criteria in the add and hope they read it.  For everyone that messages me they are interested I will follow up within a couple hours with a phone call to pre-screen.  Instead of re-stating my criteria I ask specific questions such as when they would like to move in, income and credit info, pets, and criminal history.  If they answer in a way that shows they didn't read the add and don't qualify I tell them it won't be a good fit.  I also usually post on a Tuesday or Wednesday that it will be available to view on Saturday and Sunday by apt and try to block them together.  I am usually there doing some final touches on the property with paint or cleaning so if they show up great hopefully they rent.  If they don't show I would have been there anyway doing work so I'm not at a loss.  There will always be those that apply and don't qualify hoping not to get caught but they were warned and out 30/adult for each application.  Keep in mind for marginal or poor tenants this is a numbers game where they need to get in front of as many landlords as possible hoping one will either not do their due diligence or fall for a story, this is just part of the game and a cost of doing business.  

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