09.26.14 Our Current Applicant Pool, Part 2

Didn’t get a lot of response on my part 1 post about applicants, but we’re still in the throes of fixing and renting our 3 bedroom SFR, so here we still are.

It’s been interesting trying to clarify our goals of what we would ideally like in a tenant at this property. On one hand, we’d like to get someone quieter and straight laced to give the poor neighbors a break and to try to improve the block. On the other hand, we are nervous about placing too strong of an applicant, concerned that the neighborhood will be worse than they expect and they will quickly leave.

Here’s what our current candidate pool looks like after our "too good to be true" applicant fell away:

APPLICANT #1

Family with two young kids. Non-smokers. A pitbull that will live with family since we do not allow pitbulls. Live in the area, have lived a few blocks away from property, have lived at addresses for several years, intend to stay 2 years. Husband has a DUI and other misdemeanor. Income is $1800, within our criteria, has had job for one month; stable long time job prior. Has co-signer. No bank accounts, but owns home (will be renting it to family and downsizing to save money).

APPLICANT #2

Two sisters, single moms with one little boy each. Non-smokers. No pets. Have lived in the area for awhile. One is ex-military. Both don’t have excessive moves, intend to stay a year or more. One has held their job for a long time, one is newly hired, both work. They have bank accounts and offer a co-signer.

APPLICANT #3

Couple. Expecting a baby. Non-smokers. One dog. Live an hour away. Income is $4800, really high, one job has only been for a short time, both jobs are an hour commute. No criminal history. Intend to stay “minimum of one year”. Have lived at all previous addresses for over a year, moving because rent increased and want bigger place for baby. Have bank accounts. Have not seen unit, would require that before running screening reports.

What I like about applicant #1 is that they know the neighborhood, will likely stay the longest, seem to fit in, and have credit to protect. What I like about applicant #2 is that they have stable rental history and are local, so should understand the neighborhood. What I like about applicant #3 is the dog (extra cash!) and stable income.

Applicant #1 was the first to qualify and has the earliest desired move in date. While the criminal record and fact of being a pitbull owner isn’t quite what we’d desire, they do bring a co-signer and being homeowners helps mitigate some of the reservations/concerns. But, alas, they did not have the required move in money, so seemed to be premature in their housing search.

Applicant #2 has now qualified and we are waiting for their decision.