Managing rental properties

[Jed Francisco]

Hello bigger pockets members

Can i get step by step instructions for first time tenant screening and selection up until getting someone in to rent my duplex.

I have people calling to check it out and rent my units and send me all their info but i have no idea what to tell them or where to start.

Thanks,

New guy

[Joe Splitrock]

@Jed Francisco honestly this is more complex than a response to a forum post. Tenant screening takes knowledge and skill. You should read a couple books on property management. Sign up for fair housing classes to avoid state or federal discrimination. 

First thing you do, before advertising, is setup screening criteria. That is standards for approval. Here is an example of some, but there is really more you need to consider:

2 positive landlord references

Verifiable household monthly income exceeds 3X rent

Credit score over 650

No judgements, no bankruptcies in the last 5 years, no evictions, no felons

How you market the property and talk to prospective tenants has legal ramifications, so get educated on how to screen. There are things you can legally ask and things you cannot legally ask. 

Here is a guide to screening tenants:

https://www.biggerpockets.com/...

Here is a good book on property management to get started:

https://store.biggerpockets.co...

California guide to fair housing:

https://www.nolo.com/legal-enc...

If you want to be successful in any business, you will need to learn how to be resourceful. Being resourceful isn't just posting a question online. That is trying to take a shortcut and it will yield you results equal to your effort.