Important Resdient Screening Criteria!!!!

What’s The Most Important Resident Screening Criteria?

When it comes to screening applicants, each property manager has their own set of criteria that potential residents must live up to. Whatever that criteria is, it’s important that it is applied to every applicant that walks in the door. Establishing a consistent screening process when renting an apartment or a house drastically reduces the threat of discrimination lawsuits.
So what’s important to you? While there are always exceptions to this, a good credit score is a great first indicator that an applicant may be a reliable resident. However, it’s important to note that not everyone with a high credit score is a good resident risk…and that not everyone with a low credit score is a high risk. Other key indicators need to be taken into account as well.
One of those things would be a consistent job history. In fact, this may be more important than the credit score. If an applicant has a stable job history, that usually indicates several things; they’re responsible, they’re reliable, and they’re a decent worker; all things that you’re looking for in a resident. I’d take a stable job history over a slightly low credit score any day.
Good rental references are another solid indicator of an applicant’s level of risk. As with a stable job history, good rental references indicate that the applicant pays his/her rent reliably, will likely not trash the property, and will leave it in decent shape when they move out. What more could a property manager want?
Criminal background is another area that needs to be looked at. While at times this can be a judgment call, violent crime or drug convictions should raise immediate red flags in your resident approval process.
I know some property managers and leasing agents who base a large part of their decision on appearance. This can be a major mistake in a lot of ways. Dress is much more casual these days, and a dressed-down applicant does not indicate that they are unable to pay the rent. More importantly, a neatly dressed individual provides no guarantee that their rent will be paid on time.
While a lot of property managers have developed a sixth sense of sorts when evaluating applicants, it’s important to make sure that your rental decisions are based in fact and documented for your records. Careful attention to the criteria you set will ensure that your good applicants turn into good residents.