Tenant selection

I was wondering what the process is when selecting a tenant, do I have to pick the first one that applies?

i have an application from a person who has not rented before. So there is no rental history. Their employment references are located overseas so I don't know the credibility of it. I really don't have much to go by to make an assessment.

 

You can't screen those types of applications so don't know if they are going to be bad or really good.
No you don't have to take it

 

So I can continue to run open homes? What if they come back and question why their application hasn't been selected?

 

Are you self managing Girafe?

Yes off course you could, and you should, continue to run open homes.

We usually say "your application is still being considered"

Never ever give a tenant a reason or explanation of why an application has been rejected, there is usually a code of conduct between Agents that we don't tell tenants what another agent has said.

Once an application has been reflected we usually say "the landlord has chosen another application" if they ask why "because they had to choose one and it was not yours"

In this business what you don't say is just as important as what you do say.

 

Thanks. No I'm going through an agent. But my agent is not giving any guidance. I'm going to switch once I find another.

My agent may not have the same notion of the code of conduct you describe. What I tell them, they may simply go back to the applicant and say the owner said this.

 

If unsure which PM to use, search or post the property area, no doubt someone on here can recommend.

Edited due to PM/SM clarification

 

Im not self managing, im using a PM but my PM is not helping

 

Yep, seen that after I posted, edited my post

 

Sounds like you might be micro managing?

 

@Xenia's answers are excellent as always.

She absolutely should be micromanaging her agent until she has seen enough to be sure they are competent or it will cost her a ton of money for their incompetence.

Excellent decision to go find someone else in my opinion. If you find an agent to be incompetent, giving them another chance is going to cost you a lot of money (as I found out the hard way). We are not talking about monopoly play here.

 

I'm not micro managing. I just want to know what my options are because my agent is not giving me the options. Seems like they just want to take the first one in the door without running any checks against the applicant.

 

They need to follow your instructions. So if your instructions are to keep advertising then that's what they should do.

 

Sometimes you just don't know.

I have an IP in Melbourne CBD, and the market got really tight in about 2014 when the Upper West Side development completed.

I had an application from a young 17 year old girl, her rich doctor dad was going to pay for all expenses. Yeah, spoiled rich kid being put up...can't see this going well. But they were paying really high rent ($430 I think for a one bedder) so I said alright let's do it. Turns out she's been THE perfect tenant. Very clean and tidy, and has been there for over 3 years now.

 

As long as he was also on the lease docs I wouldn't have a problem with that.

 

Sometimes it comes down to gut instinct - everyone needs to start somewhere.

If you don't feel good about it, just say no. It's the PM that needs to explain why..

I 100% agree with the rest you posted here Xenia, great work. ^^ This line irked me though, nothing worse than being screwed around. If it's an applicant you would never accept, it's easy to say thanks, but no thanks.

 

We've signed up first-time renters who recently migrated from overseas with no issues whatsoever. They left the property in clean condition.

There's definitely a risk in signing up first-time renters, but sometimes when you don't have other options, it's better than not having any rental income. If you have other applications, however, definitely pick one that is lower risk to you.

 

Yeah have to agree with you there. If a decision has been made, tell the truth and move on. No point giving people false hope.

 

Not too clear as to what your issue is. First you said the Agent is not helping. And then you said dont know what your options are. ...

I expect an Agent to select a good Tenant for me, handover the house, collect the rent. We once hand an Agent who send us 6 applications with Forms all mixed-up, and wanted us to pick one

Before you appoint them, did they run you thru their process? A good Agent should give you a summary of how and what they do, and only when you are happy, you sign up with them.