At Ironclad Property Management, we understand the importance of finding reliable, responsible tenants who treat properties with care and respect. That's why our tenant screening criteria is designed with precision, ensuring peace of mind for property owners and a positive living experience for tenants.

Here's a glimpse into our screening process:

1. PRE-SCREENING CRITERIA

Establish pre-screening criteria to quickly eliminate applicants who may not meet basic requirements. Pre-screening criteria may include:

• Minimum credit score

• Income threshold (typically 3 times the monthly rent)

• Rental history (e.g., no prior evictions)

• Criminal background check

2. APPLICATION PROCESS

Require all prospective tenants to complete a detailed rental application. The application should collect essential information, including:

• Full name, date of birth, and contact information

• Employment and income verification

• Previous rental history

• References (previous landlords, employers, personal references)

3. CREDIT CHECK

Perform a credit check to assess the applicant's financial responsibility and history of timely bill payments. Look for:

• Consistent payment history

• Low debt-to-income ratio

• Absence of bankruptcies or significant delinquencies renovation costs.

What initial repairs will you need to take care of o get the property ready for rental? Consider the current condition and calculate potential renovation costs.

4. INCOME VERIFICATION

Verify the applicant's income to ensure they can afford the rent. Request documents such as: Pay stubs , tax returns, bank statements and employment verification letter.

5. RENTAL HISTORY

Contact previous landlords to inquire about the applicant's rental history. Ask about:

• Timely rent payments

• Lease violations or property damage

• Overall conduct as a tenant

6. CRIMINAL BACKGROUND CHECK

Conduct a criminal background check to identify any past convictions that may pose a risk to the property or other tenants. Consider:

• Violent offenses

• Drug-related crimes

• Property damage or theft

7. EVALUATE REFERENCES

Contact the provided references to gain insight into the applicant's character and reliability. Ask about:

• Trustworthiness and honesty

• Responsiveness to maintenance requests

• Compatibility with neighbors

8. FINAL DECISION

Based on the information gathered from the screening process, make an informed decision about whether to approve or deny the applicant. Communicate the decision promptly and professionally.

A thorough tenant screening process is essential for property management companies to protect their investments and maintain a positive rental environment. By following these steps and implementing stringent screening criteria, you can minimize risks and ensure that your properties are occupied by responsible and reliable tenants.

Are you interested in getting our FREE application score sheet? This resources wil help you make your screening process easier! Get in touch with us today and we'll send it for FREE: servefirst@ironcladpm.com