You might be able to pre-approve potential renters if you want to find them quickly.
But where to start?
Rescreening tenants, also known as prequalifying or screening, can help to filter out applicants who do not fit your criteria. This article will help you get started on your pre-approval process if you’ve never prescreened renters.
Pre-Approval of Rental Property
If pre-approval is required to rent your property, you’ll need to determine the minimum requirements tenants must comply with. This usually includes items such as credit scores and employment.
To streamline the application process, minimum requirements are vital. Why? This allows you to reduce the number qualified applicants for your rental properties.
After you have established the minimum requirements for your screening process it is time to develop a system which will allow you repeat the prescreening process multiple times. This is to ensure you follow Fair Housing guidelines, and that your screening process runs smoothly.
You must also be able understand and follow pre-approvals if you want to rent your units.
Pre-Approval Application for Rental
How can you submit a rental application in order to pre-approve tenants Each landlord will have his or her own process. Some landlords prefer to communicate via phone, email, Google forms, or in person.
However, it is crucial to have a prequalify process that allows you manage your pre-approvals to reject candidates as needed.
RentRedi offers a prequalification tool which can be used to pre-approve a rental application. All applicants can access this form from RentRedi. Send the link to your rental listing to them for them to apply!
RentRedi has an integrated function that allows you to approve tenants or deny them based on prequalification questions and minimum requirements.
How Tenants Can Get Rental Approval
You should have copies of all questions if you conduct your pre-approvals via email or phone. This will enable you to quickly make notes or reply electronically. It is also possible to organize documents for applicants.
Prescreen potential tenants by telephone. Make sure you have enough copies to hand out to all applicants.
RentRedi allows you to email your listings a personalized link if you are using it for prequalification. The prequalification button will be clicked and they can apply online or via their mobile device.
Tenants who meet the minimum criteria, and have passed pre-approval screening, can be sent to the next stage. This typically involves background checks, an application, and an interview.
Tenant Screening & Application Process
Depending on the system, passing tenants can be easy or complicated depending on how they are handled.
You will need to contact the tenant by the same communication method you used before, whether you are prescreening them by phone, email, or in person.
If applicants have been prequalified for your unit by RentRedi, you can invite them to a TransUnion certified tenant screening. This includes credit and criminal reports. This can be done through your RentRedi website or mobile app.
And voilà!
Once your tenant passes all your screening, preapproval, application and approval processes, you can allow your tenant to move in.
