Lothian, MD · Member since 2013 · 21 posts · 1 vote
Hi, I have one prospect that has sent me a rental application/documents and I had sent them an invite from a tenant screening company. They have not responded (invite sent Thurday, August 15 and no monies were collected). I have decided that I do not want to rent to them anyway. How would you relay to them that they are no longer being considered and their application disqualified? Thank you for any input.
Real Estate Broker · Buffalo, NY · Member since 2013 · 102 posts · 36 votes
13y
Send a letter to the address on their application stating that their application has been declined because the application was incomplete. They failed to complete the application process in it's entirety, the credit check being part of that process.
If you had completed the credit check and were declining them because of bad credit, the tenants have a right to see their credit report by contacting the reporting agency directly. My understanding is that you as the person running their credit don't have to provide it to them, but you do have to provide the information on where they can get it.
From my form letter for rental declination (which I'll gladly email to you):
COMPANY NAME does not have the ability or authority to make changes to a consumer's credit report, only TransUnion has that ability. The consumer reporting agency can be contacted at:
TransUnion Consumer Assistance
P.O. Box 1000
Chester, PA 19022
Phone: (800) 888-4213
Real Estate Broker · Buffalo, NY · Member since 2013 · 102 posts · 36 votes
13y
Send a letter to the address on their application stating that their application has been declined because the application was incomplete. They failed to complete the application process in it's entirety, the credit check being part of that process.
If you had completed the credit check and were declining them because of bad credit, the tenants have a right to see their credit report by contacting the reporting agency directly. My understanding is that you as the person running their credit don't have to provide it to them, but you do have to provide the information on where they can get it.
From my form letter for rental declination (which I'll gladly email to you):
COMPANY NAME does not have the ability or authority to make changes to a consumer's credit report, only TransUnion has that ability. The consumer reporting agency can be contacted at:
TransUnion Consumer Assistance
P.O. Box 1000
Chester, PA 19022
Phone: (800) 888-4213
Lothian, MD · Member since 2013 · 21 posts · 1 vote
13y
Thank you for your time and knowledge in your response to this newbies question. I would greatly appreciate the letter that you offered to share. No credit check was done and I don't want to miss any steps and/or creating problems with not going through with this person. I really should have listened to my gut and stopped the process sooner. In this day and age of lawsuits, I hate to miss any steps I need to take before notifying them of our intention. Do you think it is ok to email and then follow up with a letter? Emailing has always been the way we communicated with her. Also, since the invite to the credit check has been ignored since Thursday, is there a certain amount of time that I need to wait to hear from her, especially since I now have a better credit prospect.
Real Estate Broker · Buffalo, NY · Member since 2013 · 102 posts · 36 votes
13y
Hi Yvette,
Send me a message with your email and I can forward it directly.
As far as how long to wait, chances are this person has no interest in the apartment or they would have at least been in contact. Leads move on with other places all the time. I always send the letter as a CYA and then move on. If they come back after the fact, it's your discretion as to whether you want to process them or not.
Investor · Macomb, MI · Member since 2013 · 654 posts · 115 votes
13y
@Yvette Dietrich , The way I handle my process is a bit different than most.
I always explain these steps when talking with a prospective client.
Anyone interested in one of my properties MUST go on my website and fill out a Pre-Screen application. This information consists of name, contact info, references, why they are moving, their NET income and a few other things.
After I review this, I will decide whether to schedule a showing with them or not. This alleviates wasted time from showing a property to someone who can't afford it anyway, are just tire kickers, or plan to be a NO-SHOW. Many people don't respond to my calls or emails after they submit this form. This is great for time saving as well. Serious prospects will respond immediately. The rest are tire kickers.
The third step is the showing. This gives me a feel for the people. I am a pretty good judge of character and many people don't make it past this point with me and who I want in my properties. I put extra care into my properties because I've come to realize that a "Great" property brings me "Great" clients.
Now, this obviously won't stop every tire kicker but it has helped greatly. In fact the other day I had two girls come look at my property. Great people, clean, and I felt comfortable they would take care of the house. So I spent some extra time answering questions, talking, and getting more info from them but letting them talk instead of me asking all the questions. I thought, awesome. I have new clients. But then.. after 2 hours ( i was working on the house anyways) they said, well, can you hold the house until October because we don't have the money yet? WHAAAATT...... I quickly said no... and that was that. Two hours wasted but a learning experience. So even if poeple claim to have the cash. They don't always have it.
The final step, after I get that warm and fuzzy feeling, and ONLY after I get this feeling, I send the background check request. I do it this way for many reasons. But what my clients seem to like about this is that they know they are not wasting their money. I don't have to refund anyone if I deny them. And it's more efficient for me.
All of this has come into play because I do work a full time job and travel quite a bit. So I have been building my company and structure so it becomes efficient and time saving. This process has at this point, illiminated ALL no-shows in the past 6 months, saved time from dealing with tire-kickers, and has gotten me 3 good clients in the past 6 months for my properties.
So give it some thought. Maybe this will help you in your venture.
Real Estate Broker · Buffalo, NY · Member since 2013 · 102 posts · 36 votes
13y
Interesting method, Aaron. I just moved to collecting a $200 deposit at the time of application, and I'll only accept the application if all information is there (pay stubs, copies of ID, fully completed application, and $200). I'm tempted to try it your way!
Lothian, MD · Member since 2013 · 21 posts · 1 vote
13y
Thanks again Andrew and Aaron on your comments. Your prompt and thoughtful response(s) are very much appreciated and I will look at both of your methods for the future consideration of prospective tenants. I have another question and will start a new thread, as I believe that is how it is done. It was a pleasure to get such a warm welcome here by the two of you and the moderators with their helpful comments.