How to screen tenants for dummies

Question

Hello everyone! Im looking for advice on tenant screening. Im looking to buy my first rental property and I understand that tenants could be a blessing or a curse, so I would like to hear some advice on some solid systems experienced landlords have in place to screen tenants? I would also like to hear individual opinions on what landlords are looking for on applications to indicate a bad or a good tenant?

Kristi Mergenhagen · Answer

Hi @Alex Rodriguez !

It's always best to get your tenant screening criteria in place based on your specific rental property. When establishing your criteria you will want to make sure it complies with your local and state laws. Holding all applicants to this criteria you set will increase your chances on approving an applicant with good qualities and not opening yourself up to discrimination complaints.

BiggerPockets has a landlord resources tab. You can find the landlord resources tab by hovering over the "tools" bar and clicking "Landlord Resources". Some of the companies on the resources page offer free forms and other resources for landlords.

I'd suggest checking out the companies recommend by BP and researching which company would best fit your tenant screening needs as well.

Best of luck!

Cameron Tope · Answer

Hey Alex,

Here are some of our qualifications:

● Household Gross monthly income must be at least three times (3x) the monthly rent. ● No Evictions/Broken Leaseso No outstanding debt to housing providers of any kind o Proof of honorable reconciliation required o Positive re-established rental history required ● No criminal records and convictions of murder, burglary, sexual assault, indecency with a child, prostitution, human trafficking, elder or child abuse, sex offenses, and similar offenses. ● All bankruptcies MUST be dismissed or discharged. ● Credit approval is subject to credit risk fee below 620 and potentially additional security deposit.● All residents of the property 18 years of age or older MUST submit an application and complete a criminal and credit background screening. ● Smoking is NOT permitted inside the home or garage.

The entire list is on our website but I can't post the link here. If you want it, just PM me and I'll send you the link.