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June 11, 2018

What happens when a tenant applies for my property?

So your property manager has just received an application from a prospective tenant who wants to rent your property and they have provided everything from previous rental ledgers to bank statements and a list of references. It all looks great, so you should let them move in right? Wrong.

Providing they have supplied all of the required documentation with their application form, the prospective tenant is about to undergo a thorough check of previous rental history, tenancy database and reference checks. If the applicant’s current property manager or landlord is wanting to remove the tenant, their reference could be tainted so at minimum, two previous rental references should be provided to check on the applicant’s history as a tenant prior to where they are living now.

Tenancy databases  may hold records of tenant breaches for up to seven years and there are now strict regulations for how a property manager or landlord can list a tenant on one of these databases.When presenting an application to you, your property manager should inform you of the results from their database search along with any details surrounding a database listing.


Key Takeaways

Even if your property is vacant and you require a tenant as quickly as possible, it is critical to determine by all means necessary that an applicant is the right tenant for your property.

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