Tip of the Month - March 2023

 
Verifying Rental Applications

Source: Property Management for Dummies
             By: Robert Griswold


Bad Tenants do not walk around with word “deadbeat” printed on their foreheads. The tenant screening process requires you to be a detective, and all good detectives verify each fact and take thorough notes.  You want to ensure that the rental prospect/s meet your minimum standards as outlined in your statement of rental policy.

Keep copies of all rental applications, the corresponding rental application forms, credit reports and all other documentation for both accepted and rejected applicants for at least three years. That way, if anyone ever makes a claim that you discriminated against them, your best defense will be your own records, which will clearly indicate that you had legal rental criteria and you applied it consistently.

This web page was updated 02/28/2023.