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Welcome to Property Management Brainstorm, the ultimate podcast for property managers, PropTech ventures, and real estate investors! Join industry expert Bob Preston as he brings you the latest trends, best practices, and invaluable guidance in the world of property management. Whether you're just starting or thriving in the business, Property Management Brainstorm is your go-to destination for all things property management. Please click the "more" button in our episodes below to view the episode notes, listen through the website audio player or the video link, and follow along with the whole episode transcript.

Five Minute Friday #10: Screening Prospective Tenants

By Bob Preston Monday, December 30, 2019

So, you’ve shown a property and collected applications from prospective tenants. Though you may have a gut instinct around who is the best fit, it’s critical that you put ALL potential renters through a consistent screening process. What does that look like? 

On this edition of Five Minute Friday, Bob walks us through the process of establishing a set of criteria for screening prospective tenants. He shares North County Property Group’s published guidelines, discussing what questions to consider in terms of income requirements, proof of income and minimum credit score as you set your screening standards.

Bob goes on to address what considerations to make around previous evictions, bankruptcy, negative landlord references and pet restrictions. Listen in for insight into North County’s digital application process and automated screening for criminal record, credit and eviction history—and learn how we work with property owners to select the most qualified tenants for a given property!

Topics Covered

[1:09] Why it’s crucial to have a published set of criteria for screening prospective tenants

[1:32] Developing a screening process to determine if an applicant is a match

[1:46] North County Property Group’s rental criteria

[2:15] Bob’s advice on placing the Fair Housing Statement front and center on your application criteria

[2:25] Questions to consider re: income requirements and proof of income before setting your screening criteria

[3:13] Determining the minimum credit score that will qualify under your rental criteria

[3:57] Considerations around previous evictions, bankruptcy, negative landlord references and pets 

[4:25] Establishing a process for completing a rental application (i.e.: paper or digital)

[4:47] North County’s automated screening for criminal record, credit and eviction history

[5:02] Checking with previous landlords for rental references as well as verifying employment and cash reserves

[5:17] How North County works with owners to select the most qualified applicant for a given property

Connect with Bob 

North County Property Group

Resources Mentioned

North County Property Group Rental Criteria

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.


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Author

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Bob Preston
President & Broker
Bob Preston is the lead consultant and creator of Property Management Brainstorm, founded to specialize in guidance for teams building property management companies and real estate investment strategies. Bob is a nationally known figure in the property management industry with over 20 years of experience in building and growing property management companies. He was the founder and broker/owner of San Diego's leading and property management company, North County Property Group, before successf...
Bob Preston is the lead consultant and creator of Property Management Brainstorm, founded to specialize in guidance for teams building property management companies and real estate investment strategies. Bob is a nationally known figure in the property management industry with over 20 years of experience in building and growing property management companies. He was the founder and broker/owner of San Diego's leading and property management company, North County Property Group, before successfully negotiating the sale of the business to PURE Property Management in 2022. He then remained with PURE as Western Regional Director, during a period of explosive growth for the company, overseeing operations for 28 branch office locations and over 12,000 doors. More recently, Bob has decided to focus on his consulting business, Property Management Brainstorm, to help others succeed in this dynamic and exciting industry.
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