All Forum Posts by: Alec Barnes

Hello Kyle,

When screening applications for the properties that I manage, I always look for:
- Income of at least 3 times the monthly rent (verified through the employer)
- Credit score of 580+
- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)
- No history of collections, evictions, or criminal offenses
- No overdue debt (except medical debt)

I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

I appreciate your response! I have not thought of using DTI instead of 3x the monthly rental amount in order to qualify an applicants income, but you made a great point regarding the priority that tenants might give a car payment. Is there a certain DTI ratio that you will usually consider acceptable for an applicant?

As for income verification, I require the applicants two most recent paystubs and if self employed I need their most recent tax return. To avoid scammers and fraudulent paystubs, I contact the applicants place of employment directly to verify that the paystubs are accurate, the company is legitimate, and the duration of the applicants employment.

I know there are a variety of screening practices used by landlords and property management companies. Personally, I follow this standard for every application I receive:

- Income of at least 3 times the monthly rent (verified through the employer)
- Credit score of 580+
- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)
- No history of collections, evictions, or criminal offenses
- No overdue debt (except medical debt)

This process has helped me place quality tenants over the years. Does your screening process look similar? Are there additional steps you take when screening applicants, or do you take fewer steps? I’d love to hear your input!

Hello Bryn,

I always suggest getting as much done to the home prior to placing a tenant because this will help you to avoid a laundry list of maintenance requests and will also help you start off on a good relationship with your tenants. I follow a checklist in order to get rental properties up a certain standard: 

- The interior and exterior paint should be free of excessive wear, smudges/dirt and preferably in neutral colors. Walls free of holes larger than a #16 picture hanging nail. Any patching and touch-ups should not be noticeable.
- All hardware should be present, property secured, and in good working order (e.g. door stops, light fixtures, faucets, toilet paper holder, hand & bath towel bars, drawer/cabinet pulls, hinges, door knobs/locks, etc.).
- Carpets must be professionally cleaned or, if necessary, replaced if there is excessive wear.
- The yard must be in good order with no debris, either natural or other. Freshly mowed and edged. Bushes and trees are trimmed.
- All windows and doors must be fully operational in the event of an emergency and be able to lock for resident's safety. Broken or torn screens should be repaired.
- All tenants should be able to move into a clean, completely empty home. All rental properties are professionally cleaned prior to leasing and/or new tenant move-in.
- I also check drains, air filters, light bulbs, Smoke/CO Detectors, and any other incorrectly functioning items.

Hello Everyone,

I've had a few interesting conversations with investors and real estate agents this week, and it got me thinking more about the relationship between property managers and their clients. In your experience, what are some key things a property manager can do to strengthen their relationship with both investors and real estate agents?

It is easy to point out areas where things might go wrong, but I am more curious about the positive side. What have property managers done for you that made you feel confident enough to refer them to other investors or agents?

Looking forward to hearing your insights!

Hello Nadir,

Before I begin management of a property that has a hot tub, I instruct the homeowner to remove it or I will be unable to manage. They are not worth the trouble. I allow for tenants to use gas fireplaces, but do not permit tenants to use any wood burning fireplaces.

 Hello Angie! I will definitely look into both of these and will definitely be at the meet up tomorrow. Thank you!

 That sounds fantastic, I will keep an eye out and would love to attend!

Hello Everyone! I am looking to expand my network of investors and real estate agents in the Charlotte area. Can anyone recommend any meetups or social media groups that I should check out?

If you don't have any specific recommendations, I'd still love to connect over coffee so I can learn more about your business. Thank you!

Hello Ingrid.

I assist in the management of about 150 properties and allow our tenants to use both gas and charcoal grills at our single family rentals. We ask our tenants to keep the grill on the patio or further from the home and instruct them not to use or store the grill in any garage or shed on the property.