All Forum Posts by: Travis Bohling

Denise,

Thanks for the post. I am interested in the communities thoughts on landlord verifications. Here is my experience and thoughts:

1. For most of my career I have viewed the feedback from previous landlords as some of the most predictive of future resident performance. I would spend time on the front end to verify the landlord's contact info was accurate and not a friend or family member. Next, I would follow up continuously with the landlord until my questions were answered. This process consumed a lot of time but I always felt it was worth the investment to avoid a problem tenant.

2. The process changed when my property management firm was acquired by a large venture-backed firm. They had the policy to screen prospects based on credit profiles, income verification, and criminal screening.  The founders of this firm had come from the institutional world and the director in charge of leasing had come from the multi-family industry which had largely given up on landlord verfications a decade ago. I was hesitant about this approach but watched the delinquency and eviction rates stay the same throughout the process change.

3. Now that I have launched a new firm, we have decided to go back to basics and collect rental verifications on every applicant. Am I being too old-school and wasting time? 

To Denise's original post, can and should we rely on landlord verifications to make approval decisions? 

I hope as more landlords adopt online payment systems there will be an unbiased source of truth of tenant performance so we can see payment history with the click of a button.
 

Agree you should not execute a contract until you have money in hand and it makes sense to walk away from this deal.

Is her request in your best interest? It is ok to say no.

Does he add value or risk by being on the lease? Typically, having more financially responsible people on the hook for the lease is better security for the landlord. Banks treat mortgages and divorces the same way.

Hey Ben, it sounds like you have your hands full with some unreasonable residents. Could you install a vent on the door to allow for airflow when the door is closed?

Landlording is like life, no certainties, just probabilities. Your aim should be to minimize losses and not take it too personally when you do have losses. They already took your money, don't let them take your joy as well.

Here is the form our attorney suggests we use for these situations.

Property managers like to brag about doors under management as well. They often get quiet if you ask about profit/door.

Hi @Jonathan Bebey,

Tenant Cloud is a great resource for the do-it-yourself landlord. Also feel free to reach out to me directly if you have any AZ-specific questions.