Aloha,
We require they or a family member view the unit personally. We do not rent site unseen! If they want to move forward, we first advise them that if they are approved, we will need the deposit in certified check or money order only within two business days; and pro-rated rent prior to turning over keys by similar method (Once they move in, we have other payment options available). The rental agreement must start within 10 -12 days of approval, we will not hold longer without charging rent. We then provide an application to be completed and signed by anyone 18 or over that will be occupying. We require acceptable printed documentation of income (preferably showing year to date total earnings; hiring letter if new job plus last paystub), savings (they can redact the actual account number, but it must have enough identifying info to prove whose account it is), or whatever applies to their situation (passports, green cards, trust documents). We do not accept screen shots or ATM receipts!. We also will not accompany them to their bank safety deposit box so they can show us their gold (yes, I was recently asked to do so.)
We verify employment by looking up the business phone number (ignoring any provided by applicant) and contacting HR or management to verify their employment AND home address (if not printed on paycheck).
Next we run a local check for all occupants on the judiciary website. This will show traffic, civil, and criminal issues and local history. New arrivals we are able to access some jurisdictions court records, and also google etc. can provide a lot of interesting info. Most people fall into one of two groups- pretty clean records, with minor traffic issues; and NOT. The latter, more often than not, will fail the credit check which follows also.
Credit check is last, we pull direct from one of the Big Three. FICO score is not as important as what goes into making that score, so the score itself is not one of our criteria. The details are. This report also provides prior addresses and sometimes employment info, so now we look at the addresses and info across all of the collected documents to see if everything fits properly. If there are gaps, or time periods/addresses left out, we investigate further, and ask questions. Here is a chart that provides a little more insight to the scores:
We do process applications in the order received AND initially complete. We may request additional docs, or co-signer, depending on what has turned up, giving them limited time to produce them (usually one or two days max, depending on what is needed).
Once we have any additional requested docs or info, we make a decision and either send out (mail or email) a standardized denial letter, or call them and advise they have been approved. We then schedule a meeting for all adults to review and sign the documents at our office. I go through a consistent review of each document, answering any questions they may have, and having each page initialed by all, and signed/dated where appropriate. We then provide copies to each as needed of the full Rental Agreement package, and copy each person's ID for our records. When next we meet, it is to perform the walk through, move-in condition form. I would have already taken lots of pics of the ready-to-rent unit, and advise the new tenant they are welcome to take their own. Once completed, report signed, and copies provided to tenant, keys are turned over after reviewing any unusual or unique procedures or issues the tenant should be aware of. (Don't jerk the ceiling fan pull chains! How to properly operate the disposer. Location for rubbish. Days of rubbish pickup. Etc. Etc.))
