You have a beautiful Forest Park rental property, and now you just need to find the perfect renters to fill it. Sorting through applications and fielding calls from prospective tenants can be challenging. Prospects can make incredible first impressions, only to prove to be unreliable or irresponsible after they’ve signed the lease. To make sure you’re leveraging all the available tools, here are five critical steps to creating your best screening process.
Stick to the Application Basics
Having an application as part of your screening process is a no brainer. However, it’s easy to get caught up in conversation with prospective renters and feel good enough to move forward with a lease. Be diligent about using your application every time. It’s also suggested to be transparent about your background and credit check methods and don’t move forward with any lease agreements until you’ve been able to follow through on those vetting steps.
A proper application can provide, including employment history, level of income, and relevant financial information. Be sure to include requests for past rental history as well as a list of references, contact information, and reasons for moving. The responses can help you better understand how well the applicant has worked with past landlords. Ask ahead about acceptable lifestyle preferences, including size and number of pets along with the number of intended occupants or co-signers.
Social Media as Part of Your Screening Process
Once you have identified a strong roster of Forest Park rental candidates from which to choose, based on the application process, you can then turn to social media. Some profiles may be private, but searching Facebook, Instagram, Twitter, and LinkedIn can help you learn more about your tenant prospects. If your applicant looks great on paper but shows an ongoing history of uncouth behavior in social settings, it may be a red flag. You can sometimes verify working history via social media as well.
Following Up with Reference Calls
Don’t presume that because an applicant lists five or six past landlord references, you don’t need to follow up with a call. Before moving forward with a lease, be sure to call each listed contact and ask about the reliability and responsibility of any prior arrangements. Some previous landlords may ask you to sign a release before disclosing information about past tenants. Ask about prompt rent payments, property condition, or complaints from neighbors. Before ending the call, ask the former landlord if he or she would rent to this tenant again. The answers will help you make your final decision.
Verifying Work History & Income
Any work-related information provided on the application should be verified with a call or email. Some individuals may suggest they’re currently working. But landlords know all too well how easy it is to find themselves with renters who struggle to gain and maintain steady employment. Before signing a lease agreement, it’s important that you understand the potential renter’s job status, title, and earnings. A few quick follow up calls can put your mind at ease that the applicants you’re considering will be able to keep up with rent payments.
Interview in Person Before Signing
Once you have screened the applicants from paper to online and with reference calls, you can move forward to the in-person interview stage. Even if you already met in person before, this final interview will allow for more thorough discussions about goals, intentions, and setting expectations. This can also serve as a final ‘test’ for an applicant to prove he or she is serious about entering into a rental property agreement with you.
Vetting potential tenants for your Forest Park rental property can be a tedious process. Be flexible and understanding where you can, but remember, this is ultimately your business investment and property. You’ll only want the ideal candidates living in your space. If the prospect of revamping your screening process or taking another fruitless call has you drained, it may be time to find a partner. Contact us today to learn how our rental property management professionals can handle all the prescreening for you. We can help ensure you protect your investment and only engage thoroughly vetted Forest Park renters.
