tenant application and followup - Posted by Todd

Real Estate Investing
#1

Posted by d.henderson on May 21, 2000 at 19:19:15:

Verify everything that you can. I always call the place before the place they live now. If they are bad tenants sometimes the now landlord will give them a good report to get them out.
It’s worth your time to check them out. Ask them if they have the money in the bank or will they have to get a loan if they need a down payment or option money. If they have to get a loan, well…that will take a lot longer and they might not qualify. Money in hand is what I look for, plus good employment record. Spend time in researching instead of A LOT of MONEY later. Trust me, it’s easier this way. smile
Dee-Texas

#2

tenant application and followup - Posted by Todd

Posted by Todd on May 21, 2000 at 18:03:33:

what are my next steps after taking an application and getting a credit check done??

do I call their employment and verify? how do I contanct previous landlords, when they were renting a home… and the owners sold the home…?

#3

Re: tenant application and followup - Posted by steve

Posted by steve on May 23, 2000 at 09:15:12:

If you’re having trouble nailing down their history as tenants, take a good look at their car, both inside and out. That could give you a clue as to how well they’d keep up the property.

#4

Re: tenant application and followup - Posted by Ralph

Posted by Ralph on May 22, 2000 at 15:25:50:

Todd; the biggest tip I can give you is to visit their home and look around inside. Look for damages, severe wear and tear, and extra beds, oversized shoes (for a single female applicant) and then the obvious signs of drug use. As long as you do this for every tenant that applies for one of your places then you don’t violate fair housing laws. We manage 500 units and require every manager that we have to complete this as the final (stage 3) of the application process.
This cuts down on the turnover cost when they move out.

#5

what about past residences with family? - Posted by Todd

Posted by Todd on May 21, 2000 at 20:21:18:

how about a case where the last two homes in Residence History look like it was with or under family?
and the reason for moving is “Sold the House”…?
(3 years at each…)

I suppose I can easily drive by the current residence and see what that place looks like…