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Checklist for the Tenant Screening Process.

by Don Conrad

Whether you're buying groceries for the family, building a website, or placing tenants in your rental, things seem to go better when you have a way to document your process. Once I discovered that this was true, I decided to start using a checklist to get me through my tenant selection process.  I now use this checklist for each and every new tenant that I place in my rentals. This checklist has made my life a lot easier and saved me from missing critical information or skipping an important step.

  The checklist I'm about to share with you is designed to be used from the time you meet with the tenant prospects to fill out the application, and continue through the lease signing process. A couple areas may seem unfamiliar to you. If so, please make reference to my book, "How to Find that Quality Tenant", for an explanation. (If you have trouble locating this book, visit my website at http://www.findthatqualitytenant.com)            

Checklist: part 1-- This part of the checklist is to be used by you when the applicant fills out the initial paperwork. Do not leave the showing until all required items are checked or verified that they are not applicable (NA).

  1. ____Verify driver’s license number and picture
  2. ____Verify social security number
  3. ____Landlord information complete
  4. ____Employment information complete
  5. ____Credit application filled out completely
  6. ____Credit application signed and dated
  7. ____Credit monies received
  8. ____Employment verification signed and dated
  9. ____Cash Flow form filled out
  10. ____Cosigner credit check completed, signed and dated
  11. ____Cosigner credit check monies received
  12. ____ Cosigner cash flow filled out

Checklist: part 2-- This part of the checklist is for when you are at home or in the office, and are processing the applicant's paperwork. Do not rent to the applicant until all required items are processed.

  1. ____Check rental history
  2. ____Check employment history
  3. ____Check personal references
  4. ____Check credit
  5. ____Check cash flow
  6. ____Run criminal background check

Checklist: part 3-- This last part of the checklist is to be used at the lease signing. This is your last chance to get everything signed and organized the way you want it before the tenants take over your property. Don't neglect using the checklist on this step.

  1. ____Rules and regulations initialed and signed
  2. ____Fire extinguisher use and maintenance reviewed
  3. ____Smoke alarm use and maintenance reviewed
  4. ____Tenant given lead-based paint pamphlet
  5. ____Lead-based paint form signed and dated
  6. ____Property condition form signed and dated)
  7. ____Photos/video taken
  8. ____Additional/missed information verified
  9. ____Tenant received Important Contact form
  10. ____Utilities transferred
  11. ____Explained property workings:
    a. ____Individual water shutoffs
    b. ____Main water shut offs
    c. ____All gas shut offs
    d. ____Furnace filter change
    e. ____Appliances
    f. ____All others
  12. ____Pet addendum signed and dated
  13. ____Cosigner agreement signed and dated
  14. ____Copies of photo ID/social security number collected
  15. ____All lease items reviewed
  16. ____Lease signed and dated by all parties
  17. ____All monies received
  18. ____Key exchange
  19. ____Celebrate

copies of this form can be obtained at www.findthatqualitytenant.com

Read more landlording and real estate investment articles

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If you would like further information on this topic, please purchase my book, "How to Find That Quality Tenant". Ask your locale bookstore or see my website at:www.findthatqualitytenant.com

I am not a lawyer, therefore, if you have any legal concerns with anything in this article, please contact the appropriate legal counsel.

The above article may be reproduced without my permission under the following conditions: author name, website, and contact information must accompany article and be prominently displayed, and the article must be reproduced in it's entirety.

Thank You. Don Conrad

Copyright 2006 Blue Collar Publishers
www.findthatqualitytenant.com
e-mail: donconrad@findthatqualitytenant.com
phone: 1-888-452-0765

 

 

 

 

 

 

Tip of the Month
August 2008

Discrimination is a serious issue. As you are looking for quality tenants, it is important to keep away from issues protected by the Fair Housing Laws. Under the Fair Housing Act it is illegal to refuse to rent to someone based on their race, color, creed, national origin, religion, sex, family status, or disabilities. Absolutely stay away from these issues when searching for tenants. I can tell you for a fact, none of these issues are determining factors on your tenant being a "good tenant" or a "bad tenant".

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