Dallas-Fort Worth Real Estate Investor Club

Screening Applicants

  • 28 Jul 2015 10:47 AM
    Message # 3454748

    Hi all,

     

    I am trying to get some best practices in screening rental applicants.  I have not done a thorough job of this in the past and it has come back to bite me recently.  What are some of the must dos to qualify potential tenants that you have found most helpful?

    Thanks,

    Christian

  • 28 Jul 2015 3:01 PM
    Reply # 3455499 on 3454748

    My main requirement is that the tenants named on the lease must earn 4x the rent in gross monthly income (not 3.5x, not 3.9x, not "we paid $100/mo more at our previous place!").  You should also verify employment and rental history from the previous two landlords.

    It is also much easier to have a realtor handle the entire process for you.  The realtor will list your property, show it, take all phone calls and applications, and will call you when an applicant is fully qualified, has their documentation ready, has ALL of the necessary funds, and is ready to sign a lease.  The fee for this service will be some portion of the monthly rent, but it is well worth it.

    If you are interested in having a realtor handle this for you, I suggest you call Suzette Teague's office (one of this club's sponsors) at 817-306-1919.

  • 28 Jul 2015 8:15 PM
    Reply # 3455712 on 3454748

    Hi, I am  a Realtor and would be happy to help you list your rental. And screen your applicants.  Give me a call if you have questions or if you would like for me to help you. Thanks 

    972 513 3493     cmayra337@gmail.com

  • 29 Jul 2015 9:51 AM
    Reply # 3456463 on 3454748

    Thanks Jesus. I appreciate the information.

  • 29 Jul 2015 5:24 PM
    Reply # 3456933 on 3454748
    Deleted user

    I second what Jesus has said.  We also use ntnonline.com for all tenant screening and charge everyone over the age of 18 a fee of $40.  This weeds out a lot of people. 

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