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November 13, 2017
Tagged in: Tenant Screening

When it comes to renting out a property, the more parties you have that apply, the better. Your goal is to not just find a tenant but to find a responsible tenant who pays rent on time and hopefully continues to rent with you for a long time to come.

One of the ways in which landlords lose out on qualified tenants is during the application process. If you find that interested applicants are no longer interested once the application process starts, it may be time to ask yourself if you are losing out on tenants due to your methods. The following are the top four reasons your application process is turning away potential tenants.

1.) Your Rental Application Process Is Too Difficult

In most rental markets, potential applicants will be looking at more than one property. If your application process is too difficult, it could be enough to deter someone from even applying when they find a place with an easier process.

What makes an application process too difficult or confusing? Some of the following friction points could be losing potential renters:

●      Requiring applicants to fill out more than one application (e.g. one for the rental and one for a credit check)

●      Asking applicants to print off a document, fill it out, and then mail or fax it to you

●      Not providing interested parties an easy way to access an application right away. There should be no lengthy follow-up process from showing to applying.

2.) The Application Asks For Too Much Personal Identification Information

Horror stories abound in regards to landlords who do not handle personal identification information properly. This can lead to tenants who are wary about giving out their social security number, bank account information, and other major identifiers.

This is particularly true in regards to paper applications. Not only may the applicant worry about what you will be doing with their information, they also may worry about how you will dispose of it if they are not chosen.

The best way to avoid losing applicants over identity theft concerns is to utilize a free online rental application that allows their information to be encrypted using bank grade security. This is not only reassuring to applicants but also...

3.)The Rental Application Is Not Easily Accessible

Another way you can improve your rental application process is by ensuring your application is easy to access. If you require tenants to print off an application, meet you somewhere to fill an application out, or utilize snail mail in any part of the application process, you may lose interested parties.

When you show the property, you should be prepared to provide easy access to an application at the end of the showing. The best way to do this is to utilize an online rental application that is mobile-friendly. This will allow tenants to either apply right then and there on their mobile devices or for them to go home and apply immediately on their computer.

4.) The Rental Application Looks Suspicious

Unfortunately, rental scams are incredibly common. Most renters know to be wary of any application process that throws a red flag. If your rental application looks suspicious, homemade, or unprofessional, tenants may be wary of applying.

Put a professional foot forward and make sure you don’t arouse suspicion during the application process. You can learn more about Rental Scams here. This information is geared towards renters but it can help you as a landlord ensure you aren’t giving the appearance of fraudulence to potential renters.

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