Finding tenants that are reliable and respectful is one of the most important parts of being a landlord. When one tenant leaves, you want to be able to replace them quickly with someone you can trust. Part of being able to do this is having a streamlined tenant application process.
The business of finding good tenants involves many different stages, and of course some effort on your part. But it can be made a lot easier with the implementation of a smart tenant application system. What does your tenant rental application process look like at the moment?
If you don't have a system in place, you're already missing out. Read on to find out how to rectify this issue and find tenants fast.
A Look at the Tenant Application Process
Before we look at what we can do to improve it, let's look at what the tenant application process entails. First, you'll need to put the word out you're looking for a tenant. This can be done online, in local papers, and through word of mouth.
Next, you'll need to field applications. A tenant application should be comprehensive, and it should be something you always have copies of on hand. Your application actually will make up the first part of the tenant screening process.
Once you've chosen your shortlist, then the actual screening process can begin. Once a tenant has completed this successfully, you'll be able to sign a lease and start making money on your property.
How to Create the Perfect Tenant Rental Application
Your tenant rental application is an important part of the process, because it allows you to weed out undesirable candidates and learn a little bit about your shortlist. For this reason, you'll want to make sure you're asking all the right questions. So, what should you be including in your tenant applications?
Like we've said, it needs to be comprehensive. Get as much information as you possibly can so you can make an informed decision about who to move forward with.
You'll want to ask for the basics of course, like their name, address, and contact details. Then you'll want to go a little deeper. Ask for their occupation, their credit score, and their current salary.
These are all things you can use to assess whether they're likely to be able to keep up with rent payments. Something that's super important to you as a landlord. As well as this, it's a good idea to ask your references—this allows you to verify basic things about their character and personal profile.
Beyond this, it's up to you what to include. You can add custom questions about whether or not they have pets, are a smoker, or work odd hours, depending on what the rules of your building are.
Streamline the Tenant Application Process Today
If you want to make your tenant rental application process easier, quicker, and overall more effective, then Allegiant Management Group can help. Let us handle finding the right tenants for your property—fast. Get in touch to see how we can help take the sting out of finding great tenants to fill your Kissimmee properties today.
