All Forum Posts by: Skyler Walker

@Jennifer J.

I am currently doing paper applications but I am considering moving to online. The property management software I use offers some resources. I just haven’t figured out how to use the applications that I want to use in conjunction with their process.

@Anthony Rosa

You’re definitely right, I have no pre-screening process at the moment and hadn’t considered implementing one before.

Thank you everyone!  This question turned into a complete re-vamp of my tenant screening process and I'm really excited for the next one!

@Kenny Dahill

I am definitely headed in that direction for my future applicants.

I assume you (or someone that works for you) are showing the home to those that have shown interest.  Are you having them fill out the application at showing and based upon your findings, contact who you would like to conduct a background/credit check on?

Also, are you showing the home per appointment or open house?

@Jennifer Rysdam I haven't heard of SmartMove, do they do any pre-screening for you or is it just a site to facilitate screening and payment only?  I definitely use Facebook to pre-screen as I use the marketplace to help market my properties.  Facebook is by far my largest source of traffic and has booked every property I have.  I do operate in the B-/C class, so I think they go together well.

@Joe Splitrock I like the "self screening", definitely gonna try that out on the next one.  I had some bad traffic on this last property and it took a lot of time getting through every interested person.  I use roughly the same standard so posting it on the ad won't be much of a change.  I guess that's all that can be done before taking someones money and running their credit and background... it just seems like a lot of people embellish their credit and income so it's hard not to just check it myself.  I like to verify the applicant makes 3x the rent but I also like to see a total household income that shows a max of 2/3 debt to income, including the monthly rent.  Do you have your applications filled online or in person?

@Matt P. Thank you?

Thanks @Joe Splitrock,

Are you checking credit, debt to income, background immediately with your applicants?  I have blocks of, usually 2 hours where I am showing the home and may receive 5 serious applicants at a time or 0.  How do you maintain the ability to approve or deny applicants on a one-at-a-time basis?  I you don't mind me asking. 

@Michael Craig, 

Thanks for the compliment!  

I appreciate the advice and it makes sense to give some specific feedback regarding the applicant, good thing I took notes during screening!

@Mike McCarthy,

Yes I am currently looking at B-/C class tenants so I like to get the credit and background check before making any decisions or getting excited about who someone says they are.

@Alex Smith,

I agree that you can't please everyone.  I am looking for info on what a management company might do so going slightly more into detail as you said, sounds like a good plan.  I will try that out and see how things go!

@alex 

@Alex Smith, I did find a renter.  I am responding to everyone post open-house.  

I agree with your thoughts on the protection aspect, do you think people feel respected when you say that?  I'm really interested in return customers and creating a brand in Oklahoma.  I also don't want to contribute to the negative and distant thoughts that good people say about their landlords.

I have just purchased my second investment property and fortunately had a slew of applicants.  I had no issue sending correspondence to those who did not put applications in however I am having writers block when considering those who gave me money for the screening process and genuinely hoped to get good news.

I know this business takes thick skin, I don't have a problem delivering bad news.  This is relatively easy in terms of emotion, my issue is "what" to say.  I am really trying to consider everything that I do as a foundation for the future.  I want to conduct my business as close as possible to what it will be in 5 or 10 years so I put a lot of consideration in details like this one.  

Here is what I have told those who were interested but did not have the chance or chose not to put in an application yet:

"Hello there, we just found a renter for our home. Thank you for your interest and I apologize for any inconvenience!"

Any advice is great, thanks!

@Alyssa Dyer @Tyler Holzer

You can absolutely require your tenants to carry insurance, in fact I would recommend it.

Most comprehensive insurance companies that offer home/auto/life insurance policies offer a very cheap renters policy that generally costs the tenant $5-25 per month depending on location and current policies.

It is an inexpensive item to require and it is in the tenants best interest, it will also detour tenants from coming to the landlord for stolen property in unfortunate cases.  Many investors require the policy at lease signing.