Trying to avoid a problem tenant, or worse, an eviction? Your best opportunity is before move-in day. In fact, before you even receive an application.
Setting strong, objective qualifications for your rental units and following through with an in-depth screening is the best way to avoid a tenant issue later on.
Think about how you screen tenants now
Maybe you ask for paper applications and manually enter the information into a tenant screening software. Hopefully you send the applicant a link to complete an online application. Now you’ve got some applications in front of you and have to decide who to accept.
Some are missing the proper verification documents (paystubs, bank statements, etc.) and you have to follow-up individually to remind these applicants. After review, you realize that several of the applicants don’t meet your credit score requirement.
Imagine this instead - you put up a listing and include your application criteria (income, credit, eviction history). Tenants are only able to apply if they've already been screened.
You’ll receive less applications, but every application you do receive will qualify and include income, credit, criminal and eviction history.
Caretaker helps you set requirements that keep you compliant with fair housing laws. We recommend a minimum monthly income of 3x the monthly rent, a minimum credit score of 600, and no evictions within the last three years. Criminal history should be evaluated on a case-by-case basis.
Any application you receive already meets your listing requirements. Simply click to approve and sign a lease agreement to continue to the next stage.
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Alex Hance is the Head of Customer Experience at Caretaker. He is a gentleman and a scholar.