3 critical steps for qualifying a tenant

Selecting the right resident is the most important decision a landlord makes.

It’s difficult to precisely describe an ideal resident; however, good residents do have some things in common. As a landlord association, we have seen these common characteristics and tendencies in good residents.

• They pay their full rent on time each month.
• They care for the property as if it were their own.
• They are stable and tend to renew their lease. They abide by any policies you may have regarding acceptable noise levels, guests, use of common areas, or other matters.
• They will leave the premises in as good condition as they found it, or better.

STEP #1)

To find a high quality resident you need a system. If you follow specific steps, including:

• establish solid selection criteria
• a qualifying conversation at the outset
• a thorough screening process that includes a
  • credit check
  • criminal background check
  • a call to previous landlords
  • a detailed description of your standards, policies and house rules

you will be well on your way to setting the stage for a great tenancy.

STEP #2)

Keep in mind that all processes and standards MUST be applied equally. Be sure to follow all Fair Housing guidelines in your qualifying process for house rental agreements. Your landlord association should have a listing of these guidelines.

Begin your house rental agreements process by qualifying prospective residents over the telephone when they respond to your advertising.

• In this preliminary interview, find out as much as you can about their lifestyle and apartment expectations.
• Strike up a friendly conversation.
• Ask a lot of questions.
• For example, find out
  • what they do for a living
  • how many people will occupy the apartment
  • why are they moving,
  • what apartment features are they looking for and so on.

STEP #3)

Qualifying is essentially conversation used to establish a rapport with prospects and put them at ease, and to inquire about the prospects’ back­grounds and needs.

Next be prepared to thoroughly screen your tenants.  Decide between an instant screen and a more comprehensive investigative screening.  Screening should include

• Credit check
• Eviction report
• Criminal background check
• Office Foreign Asset Control report

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