Finally to the plunge!

[Jeremy Seib]

I just closed escrow on my first two SFR that I am turning into rentals. After 4-5 years of analysis paralysis, I finally took the advice I read and heard on BP and the BP podcasts. You learn more by doing. So now I am doing. I have joined the AOA (Apartment Owners Association of California) to gain additional support. Now that I have all these people calling, what advice do you have when it comes to screening tenants prior to the application? My first instinct is that if I can't hold a conversation because their speech is so bad (non-language barrier) I should automatically disqualify them based on a phone conversation. The second thing is to make sure they meet my income requirement, credit checks etc. Any advice with tenant screening would be appreciated.

[Brie Schmidt]

@Jeremy Seib Congratulations! Way to jump in!

Personally, I do not phone screen before the showing. I find that about 1/2 the people who inquire about a property actually show up. I basically provide every detail I can imagine in the ad (deposits, income req, ect) and let them know I am doing showings on X day between X - X and to come during that time if interested. Once they show I direct them to my online application ( www.rentapplication.net ) and say it is free to apply, and applications are due the next day by noon. Usually I have a few to choose from, I base my choice on their income and how they were at the showing. Once I decided on my renter I have them to a credit / background check with MySmartMove.com