3 Easy Ways to Size Up a Rental Applicant

When filling a vacancy, an owner/property managers main goal is to quickly whittle down the list of rental applicants, eliminating potential problem tenants, and focusing valuable time and energy on the best prospects.

Here are three simple questions that can help owners and property managers do just that:

1) Are you ready to move?

The answer to this question can reveal a lot about an applicant. For instance, does this tenant seem desperate to move in right away? While that could merely reflect a tight rental market, it can also betray the applicant who is about to get evicted. Follow up with the other questions below to get the whole picture.

Asking this question also can help eliminate any applicant who is planning too far ahead — someone who will ask you to keep the vacancy open until it meets his or her schedule.

2) Have you given notice to your current landlord?

If the current landlord is not aware the tenant is leaving, that could be a sign of a bad rental history. Someone who fails to give proper notice is, at the very least,  not showing a sense of responsibility. Be sure to follow up with the current landlord to get the whole story.

Could this applicant simply be comparison shopping, wasting your time before they negotiate for a renewal with the current landlord?

3) Why are you interested in this property?

Typically, an applicant who doesn’t connect with the neighborhood or property in some way is not interested in staying for the long term. This may be someone who winds up breaking the lease, leaving you to fill a vacancy at an unappealing time of year.

Another way to pose this question is to ask how the applicant found out about the vacancy. Someone who is responding to a rental sign or already knows something about the neighborhood is a better bet for the long term of the lease.

On the other hand, if this applicant is answering every ad and can’t remember how they got to yours, that signals a low level of commitment. A lease with this individual will take longer to close.

A lack of interest in the neighborhood and in the rental property is one of the red flags pointing to a problem tenant — someone who may be getting rejected from other properties.

It may be this applicant is weary from looking at multiple properties, or is not the ultimate decision-maker. Either way, this applicant may be wasting your time.

Take a few minutes to point out the best features of the property and neighboring area, but if you still don’t see any enthusiasm from the applicant, you’re probably showing the property to someone who will not remember it.

Once you have pegged your best rental prospect, always have the person complete a rental application, and run a thorough tenant background check. Trust, but verify. Always.

Since 1946 the Carnahan name has had a reputation for honest and ethical Real Estate Property Management services in the San Fernando Valley, Santa Clarita Valley, Burbank/Glendale, Los Angeles, Westside and Conejo Valley areas.

The reason for our success is helping owners like you when they need it. Below is a partial list of property management services we provide to help you protect your real estate investment.

• Tenant placement
• Tenant screening (including: credit check, landlord and employment verification, social security trace report, California eviction check and criminal check)
• Regular property inspections
• Accounting and landlord bill payment
• Monthly financial reporting
• Maintenance service and supervision (we use only proven independent vendors)
• Collections
• Evictions
• We supply all the necessary forms to meet California’s Landlord/Tenant laws
• 24 hour emergency phone service
• Advertising to the broadest tenant base possible

Call or e-mail us today for more information. We’re ready to get started!

• Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.