Property Management FAQ: What, specifically, do you do to qualify a tenant after they have applied to rent my house?
The tenant screening process is the most important step. A thorough review of a tenant’s application will greatly reduce the risks of accepting troublesome tenants and can alert us of any potential payment problems before an applicant signs a lease. We use third-party vendors to assist in gathering the necessary credit, and criminal information, however you can rest assured a full review of a tenant’s application is handled in-house.
LANDLORD REFERENCES – Request for rental history is done in writing, in addition to personally talking to past landlords and asking detailed, open ended questions about the applicant’s past performance. If a private individual is listed as previous or current landlord, we will pull the tax records and verify that the person listed actually owns the property. Request For Rental History – TAR 2214
CREDIT REPORT - Our credit report provided by TransUnion provides: Credit Score, Payment Patterns/Payment History, Public Record Search (tax liens, bankruptcies, judgments), UD/Skip, Collection Account Search, SSN Validation, Residence/ Employment Information (according to what Bureaus have on file) Sample TransUnion – Tenant Credit Report
This information helps us understand the applicant’s current and past performance toward meeting their financial obligations.
DRIVER LICENSE VERIFICATION – We require a copy of the applicant’s public drivers license data. This tells us not only if the addresses/information given on the application are consistent but also when and what the last drivers license activity was, such as a renewal or change of address. If addresses don’t match, a red flag goes up and additional investigating is done to discover if the applicant is trying to conceal bad rental history. Military applicants must provide copy for their military identification card.
EMPLOYMENT/INCOME – The employer is contacted to verify length of employment, status, and income. Request for Employment Verification – TAR 2219 Two (2) years of verifiable work history is required. Self-employed applicants are required to produce upon request two (2) years of signed tax returns and previous three (3) month’s bank statements. Military Applicants must provide copy of most current LES, and assignment orders.
PETS – The acceptance of pets is really up to you, the property owner. If you do choose to accept pets, we minimize your risk by limiting the breed, age, number and size of the pets. We also use a special pet addendum for your protection. Pet Agreement – TAR 2004. We are extremely careful in selecting tenants who wish to bring pets with them.
OTHER FACTORS – Home Owner Association restrictions are also considered, such as no boats or trailers, and limits on the type and number of vehicles.
The tenant screening process isn’t something we take lightly, and neither should you, the owner. Please take the time to review our complete Rental Application Policy/Procedure document, and understand in greater detail what we do specifically to qualify a tenant. ULTIMA Real Estate – Rental Application Policy/Procedure
If you have any questions/concerns regarding our property management services, or property management in general, feel free to email me at: randy@trust2move.com
I would love to add it to the Property Management FAQ section I’m working on, as well.
Thank You.
11844 BANDERA RD #132 HELOTES, TX, 78023-4132 USA
randy@trust2move.com • 210-442-9178
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