Set up free phone number with google
Put property up for rent with Zillow
You receive a call
Let it go to voice mail
It will most likely go to voicemail
Tell them you would be happy to set up an appt for them to text you with their email address. You will email them the application. Once they have filled out the first page they send it back to you
you will be happy to set an appt for them to see the property
If you like what you see on the first page
You show the property ALONG with any other applicants you have. Show it to all people you can at the same time
You tell everyone first come with cash first served if you have multiple candidates with acceptable background checks
They like it
You tell them to fill out the rest of the application and also send them the link to Cozy dot com to get their background and finance check done. They will be paying cozy $49 directly
Everyone's process is going to be a little different. Here's my process:
- Add a webpage on my website with all property information. The webpage will have answers to every question that I get from prospective tenants concerning the property (price, number of bedrooms, when it's available etc etc). There's also a video walkthrough of the apartment, a link to all other apartments that I have available, my weekly schedule for when they can come see the apartment (I do 1 or 2 open houses per week), and a link to my online rental application.
- Place apartment on the market
- Prospects either call me (Leave a message on my Google Voice phone number) or I get an email from Zillow, Trulia etc with their contact info
- I send the prospect a text message (using text expander) leading them to the webpage
- The prospect chooses which open house works for them and will attend (I don't make 1-on-1 appointments). If they cannot make it to one of my open houses, We can set up a Facetime, Facebook Live-Stream, Google Hangouts, Google Duo etc during one of my open houses
- They fill out my online application
- I look it over to see if there's anything that will automatically disqualify them (evictions, not enough income). If so, I stop the process here and send them the Adverse Action Letter.
- I run the credit check and ask them to email me a clear/close photo of their ID, PDF copies of 2 bank statements & most recent month's worth of paycheck stubs (Again, using Text Expander) (If you don't know what Text Expander is, I have a YouTube video explaining how I use it to screen tenants. Inbox me if you'd like to see it)
- I contact employers, current landlord & past landlords
- I make my decision based on all information collected and my qualification standards (Brandon Turner talks about Qualification Standards in "The book on Managing Rental Properties"
It's good to have a standard practice of evaluating every applicant the exact same way, so I wouldn't say that you necessarily have to run a background check / income verification on every prospect, just make sure that if you don't, it's because something disqualified them before they made it to that point in your screening process.
As for the adverse action letter... Send it to EVERYONE that has applied and was denied, regardless of the reason.
Hope that helps
Hey guys thanks for your replies! This helps a lot. I really appreciate the advise on the process you each go through and I will check out text expander and tenant cloud. - Thomas