Aug 12
13
Congratulations – you’ve got tenant applications on your rental property.
Now what do you do?
Earlier this year I was reviewing tenant applications with one of our VIP Coaching Clients and I explained it to him this way:
There are 3 main categories I look at. Inside of each category I look to see if I am getting a green, yellow or a red light. If you get a YELLOW light in any of the categories you need to review further. That usually means you need more information, you need to check references carefully or confirm some details. Basically I want to collect enough information that the yellow light turns green or red.
If you get a RED light in any one category then you should move on to the next application.
GREEN means GO FOR IT!
That coaching client is still talking about this simple strategy for screening tenants and it’s been months and months since that call, so I thought other folks might benefit from this to simplify the tenant screening process!
Let me explain this simple tenant screen strategy a little further:
What do you think? Are there any other categories you think should be included? Does 2 yellow lights = a red light? Let me know!
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Image Credit:© Sergey Skryl | Dreamstime.com
