Proper screening to identify well qualified tenants for your rental property is crucial for the long term success of your rental property. Better maintained homes attract better quality renters and command higher rents. Choosing well qualified tenants can also reduce repair and maintenance costs over the long term and also reduces the chances for loss due to eviction or nonpayment of rent.
Online Rental Applications
Prospective tenants can apply online 24/7. This convenient process increases the number of potential applications compared to some management companies that require a paper application be dropped off potentially across town from your rental property during business hours when many tenants are stuck at work. Our online application is even mobile friendly!
Tenant Screening is centralized in our management software. Applicants can easily be screened on the spot while at the property showing and the results are returned within seconds rather than hours. This easy-to-read Screening Report paired with rent payment history from Experian RentBureau allows us the unique opportunity to choose the most qualified resident for your property while they are still interested.
All occupants over 18 years old are screened
Each screening report includes an easy-to-read summary and details about applicant background, including:
- FICO credit score, credit history and public records from Experian, the leading national credit bureau.
- Experian® RentBureau® rental history – visit RentBureau to learn more.
- Nationwide Eviction search, pulling data from thousands of national, state, and county court records including those without a judgement.
- Nationwide Criminal search, including Megan’s Law registered Sex Offender check, and OFAC terrorist watch list.
Will the report indicate whether an offense was a misdemeanor or a felony?
Yes, in the vast majority of cases, this information will be reported.
How far back do you report criminal and eviction records?
It is our standard operating procedures to report information going back seven years.
What is an eviction (also referred to as unlawful detainer or forcible detainer)?
An eviction is a suit brought by a landlord to obtain possession of rented property and receive payment of back rent. The nationwide eviction data used is based on eviction judgments as well as filings. As a result, many more eviction records may be reported.
Criteria For Approval
Most of the applications on properties I manage are considered under the same guidelines, however property owners can request more strict or more relaxed guidelines for their properties based on their specific needs before we begin marketing the property for rent.
General Guidelines For Approval:
- Income at least 3x the rent amount.
- Credit score of 650 or better
- No prior eviction history
- No more than 1 late rent payment or bad check within any 12 month period
When an application does not meet those standards, we take a closer look and try to identify the reasons why. Much of the nation and especially Las Vegas have been hit hard by foreclosures and short sales. Many tenants will not have perfect credit which may be why they’re renting instead of buying a home. This is where experience and good judgment can determine the difference between a well qualified tenant who will pay the rent and take care of your home vs. the chronic abuser who is more likely to continue having credit and rent issues and not treat your home with care and respect.
Occasionally, a tenant with a less than perfect history may still be a good candidate for the property with a double or triple security deposit to reduce the risk to the property owner. These situations can be discussed with the property owner on a case by case basis and ultimately be decided by the owner if the owner wants to be involved in the decision.
When an application is not accepted, we send an adverse action letter in compliance with the Fair Credit Reporting Act (FCRA)