Resident Screening Criteria
Posted in California Property Management By Richard Greenwood, Saturday, March 15, 2008.With so many potential residents coming out of foreclosures with impaired credit, what criteria are property managers are using to screen for tenants? We look for stable employment with income equal to 3X the rent and a history of paying bills on time. Also, no UDs.
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Submitted by William White on March 31, 2008 - 3:33am.
Having looked at a few single family short sales on the market, the physical condition is terrible. Is there a way to see how the tenants coming out of foreclosure treated their homes. If a foreclosue home owner trashed a place, how do I find out before I move them into one of my rentals?
Submitted by Wallace Gibson CPM on March 31, 2008 - 3:50am.
40 years of property management experience...age and experience trumps youth and enthusiasm every time!!!
Drive by the property and visit the HOUSE...check the MLS to see if it was listed for sale before foreclosure and check the pictures; then talk to the agent if you know them. Frankly, if someone does not care about the HOME THEY OWN enough to stay out of foreclosure, I would not want them in one of my rental homes.....
The BIGGER issue is that after foreclosure, comes bankruptcy so you certainly don't want to be dealing with this in one of your clients' homes.
Submitted by Jessica Hickok on September 16, 2008 - 6:00pm.
Youth and enthusiasm turns into age and experience. Who cares who trumps who?
9 years in property management has taught me that you can't judge a tenant by credit score. Look at job history, court record history and check social networking pages (Facebook and MySpace)...you can learn a lot about people that way. Just a few ideas.