Process Validation: From Listing to Tenant Placement

[Kyle Jensen]

We are getting close to listing our first rental and I wanted to get some feedback on the process steps below. Please let me know if I have anything out of order, or something totally missing. Thanks!

1. We will be posting on Zillow and via Cozy.

2. I will setup an auto reply email to all inquiries with a list of our minimum qualifications and a link to a Google Form that will collect some basic info and help us immediately remove tenants who do not meet the minimum standards. 

3. For those who meet the minimum standards, we will follow up to setup a showing (potentially an "open house" style showing so that we can get a few people there at the same time). 

4. For all interested tenants, we will provide them another copy of our rental requirements as well as a link to apply via Cozy. When filling out the application, they will also pay for and complete the necessary background and credit check via Cozy. 

5. When we get a completed application and credit/background check information, we'll follow up with the necessary references (employer/Landlords/etc.) before making a decision. 

6. For those who do not meet our standards, they will get a rejection letter. 

7. For those who we accept, we'll let them know and request a deposit to hold the unit until we sign the lease and accept the security deposit and first month's rent. 

8. Lastly we'll do a walk through with the tenant and complete a move-in inspection/checklist. 

So, how'd I do? Anything look "off" to the seasoned landlords out there?

Thanks!

[Nathan Gesner]

@Kyle Jensen security deposit is based on the level of risk the tenant presents. High score all of my tenants with a score sheet that ranks them 1 through 30. Every tenant pays at least one month's rent free deposit but the higher risk tenants pay 1.5 times or 2 times a month rent to mitigate the risk.

I require the full security deposit in certified funds before taking the property off the market.