Screening tenants, leases and rent collection

[Alexis Smith-Frady]

Recently we decided to convert our Airbnb that is in a saturated market to a medium term rental. I listed it on a "Traveling Medical professional" website. We received an inquiry from someone who is not a medical professional but they did the back ground check and have great credit. I am not set up with a lease or anything. It is the only person that has inquired and they seem like a great option. What's next!!? Do I call and interview them? 

-Novice Landlord

[Amber Forkey]

Hi @Alexis Smith-Frady, welcome to the medium-long term rental space :) 

Screening prospective tenants is the most important aspect of a successful placement. After that it's verifying information that the prospect has given you. Currently I'm using a 3x rental amount for a minimum income required. So if I'm renting a unit for $2,000/mo, I would require a minimum of $6,000/mo of combined household income before taxes in order to move forward with the application process. Always check your local/state guidelines as I'm unfamiliar with FL laws. 

The next step is if you don't currently have a lease, you'll want to get one ASAP that's been drafted by an attorney. It is well worth the money and will protect you should you end up in court with them for any reason. 

I have a 1 page screening form I use on all my leads that I'd be happy to share with you if you'd like to take a took at it or modify it to fit your needs. Send me a PM if you'd like me to send it over!