I’d say at least 20% of our tenants actually applied to a different property that already had an application further along so couldn’t get their first choice and we guided them to another one of our properties.

Therefore, if you purchase a property that matches a specific segment's housing requirements, you can expect most applicants to come from that segment.How do you determine the housing requirements of a segment?

What about your process to screen applicants?

Look into these topics to grow as an investor and throughout time you will find your niche investment strategy but these will be applicable in most.Property managementUnder writing or deal analysis Deal findingMarket researchLending

Also I believe your mortgage application and offer process will go much more smoothly if you start looking early and understand the rents, neighborhoods and numbers.Good luck!

@Zachary Sneed - Submission of multiple mortgage applications at the time of each purchase should not be an issue for your credit score, as long as you do them all within a short period of time (such as within 30 days). 

Our role as a property manager is to:1) Put the right people in the units; Meaning well-qualified applicants who have stable income/employment, positive rental, credit, eviction, and criminal records, and are a good fit for the property, while staying within the scope of fair housing laws. 2) Minimize vacancy and turnover3) Maximize rent and rent collections (and provide the tech to make this painless and easy for tenants and owners)4) Maintain the property and curb appeal (and provide the tech and staff to make maintenance responsive and relatively painless). 

Each of these has been designed to cater to the different needs of property management professionals, helping to keep your business organized and your records meticulous.Buildium:Great for property managers handling a range of property types.Offers accounting, maintenance requests, leasing tools, and an online portal for tenants.AppFolio:Suitable for residential, commercial, student housing, and HOA property management.Provides features such as online rent payments, vacancy posting, maintenance requests, and accounting.Yardi Breeze:Ideal for smaller to mid-sized property managers and landlords.Features include accounting, operations, leasing, and rent collection.Propertyware:Designed for single-family and low-density residential properties.Offers customizable reports, maintenance, and inspection management.Cozy (now part of Apartments.com):Best for individual landlords rather than large property management companies.Features include listing properties, tenant screening, rent collection, and tracking expenses.Rent Manager:Good for managing a diverse portfolio of properties.Comes with a comprehensive set of tools including financial management, CRM, and reporting.RealPage:Suitable for larger firms with extensive property management needs.Provides solutions for revenue management, expense management, leasing, and more.MRI Software:Offers flexible solutions for real estate owners, operators, and occupiers.Includes tools for property-level management, accounting, and investment management.TenantCloud:Good for DIY landlords and property managers.Includes rent collection, tenant screening, and property maintenance features.Hemlane:A technology-enabled property management solution.Offers tools to advertise rental properties, screen applicants, and support local agents.I recommend exploring these options and taking advantage of any free trials they offer to find the software that best fits your needs.All the best with your property management endeavor.  

You’re not required to accept a guarantor who doesn’t meet your criteria or to take on more risk than you normally would.If the applicant still can’t meet income requirements even with a qualified cosigner, you can deny based on inability to pay, as long as that standard is applied consistently and documented.

Typical buckets:Income: Rent, late fees, laundry/otherOperating: repairs & maintenance, utilities, insurance, HOA, supplies, advertising, legal/pro fees, bank feesTurnover: cleaning, paint, small replacementsCapEx (capital improvements): roof, HVAC, major appliances, renovations (track separately)Liabilities: security deposits (not income)Auto: mileage (or actuals) + tolls/parking if applicable5) Year-end handoff to your CPA becomes stupid-easyGive them:P&L by propertyBalance sheet (including security deposit liability)CapEx list (date, vendor, amount, what it was)Mileage total + method1099 info if relevant (vendors)PM statements (if applicable)If you want this to feel effortless, the best move is using banking that’s designed for rentals: separate accounts by property, clean transaction feeds, and bookkeeping/reporting that’s “landlord-native.”That’s why I like Baselane for this exact question: it’s banking built for real estate investors, so the workflow above becomes the default instead of a constant discipline test.Full transparency: Baselane is a BiggerPockets partner, but even if they weren’t, the “banking-first bookkeeping” approach is still the right answer for landlords who want clean books without living in spreadsheets.