Today we are talking about reasons you might want to reject a tenant’s application. As you know, tenant screening is essential to a landlord because you want to make sure you are getting a reliable and responsible individual who will take care of your property and pay rent on time. Here are four specific reasons you might want to reject an application for tenancy:
A credit check is a very important part of your screening process, and if you get an applicant who has terrible credit, you might want to think twice about approving that application. A credit history can tell you if the tenant has a record of paying bills on time and you’ll definitely want to reject anyone who has outstanding landlord collections or utility payments that have not been made. Income is also important. As a general rule, you want to rent to someone who earns at least three times the monthly rent. If your applicant doesn’t make enough money to cover the rent, you’re going to have to reject that application.
Employment and Criminal History
Does your applicant change jobs every few months? Someone with an unstable employment record can be a cause for concern because you’re not sure he or she is able to remain employed. Criminal history is also an important factor in reviewing an application. You don’t want someone living in your house who has a record of violent behavior or illegal activity. Take a good look at employment history and conduct a criminal check to find out whether an applicant is suitable as a tenant.
It’s important to ask for prior landlord references and if those former landlords and property managers tell you about late rent payments, damage left behind and lease violations, you will want to reject the application. Get as much information as you can from current and former landlords before you decide to rent to a tenant because past behavior is usually a good indicator of future behavior.
Anyone who lies or provides misleading and false information on an application should be disqualified from your property. You are entering into a professional relationship with your tenants and if you cannot trust someone before they have the keys to your place, it’s going to be hard to count on them after they’re all moved in. Check everything that’s on the application and don’t stand for any lies or inconsistencies.
These are four of the most important reasons to reject an application from a potential tenant. If you need any help with your screening process, please contact us at PRS Property Management, and we’d be glad to help you.