Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tenant Screening
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

20
Posts
7
Votes
Jessica Young
  • Investor
  • Houston, TX
7
Votes |
20
Posts

Not Sure How To Resolve This Problem with Applicant Selection

Jessica Young
  • Investor
  • Houston, TX
Posted

To start, I will be putting this under property management to alleviate this in the future. I wanted to research several companies and have it in place before I advertised, but of the five I was able to get on the phone only one company (who I have previous experience with from a tenant POV) got back to me and sent over all documents via email.

I have two applications that are deposit and first month's rent ready, both meet my rental criteria. One wants to move in on the 27th and the other on the 29th. Everything application-wise for the tenants and guarantors were submitted all today.


Applicants 1:

Two undergrad students who are actually supposed to be living on campus, but they couldn't room together. One applicant's dad is the guarantor as they have no history. Potential to be there 4 years, but they have overbearing parents that I've already had to tell that only those party to the lease should contact me in the future.


Applicants 2:

One is an incoming 2L and the other a graduate assistant. The 2L's mom is the guarantor. Potential to stay two years (he asked for a 2 year lease, I declined that request).

Both can get the deposit to me today, but they've both been emailing and calling me nonstop the past two days. They both were hesitant because all of their top choices were quickly rented out and I was last / slim pickings due to my price and age of home. What should I do here? I've read up on Fair Housing and want to be sure I remain in the right.

Most Popular Reply

User Stats

2,323
Posts
1,582
Votes
Richard F.#1 Tenant Screening Contributor
  • Property Manager
  • Honolulu, HI
1,582
Votes |
2,323
Posts
Richard F.#1 Tenant Screening Contributor
  • Property Manager
  • Honolulu, HI
Replied
Aloha,

This is a common problem when you do not simply process a complete application from start to finish, and either accept it, or deny and move on to the next application, based on the order received. If you review multiple applications looking for the "best", you are far more likely to make a decision based on "feelings" rather than facts, and that will likely get you into a Fair Housing problem.

Having said that, we normally have a guarantor from each set of parents, with full background/credit checks, when renting to students.

Loading replies...