So, you’ve found the perfect space to lease, and you are on your way to submit your application form along with the required documents. Ever wondered how your application is processed?
(Note: Every single application forms are processed according to the order they are received):
- View Property – Prospective tenants cannot apply unless they have seen the property. They may call the office to inquire about open showing dates or to schedule an appointment. After viewing the property, they are given the application forms and rental checklist.
- Evaluate – After a prospective tenant submits their application documents, we evaluate/prescreeen their information. We look at the application forms, make sure that all required documents have been submitted, and review the information the applicants have provided as part of the preliminary evaluation. Applicants provide us with helpful information to determine whether they are qualified or not. For example: sometimes, even when we advertise the space as a no-pet property, there are still others that submit their applications stating that they have pets. Some applicants also state their reasons for leaving their previous residence is due to eviction. We do not run the credit for those that do not make it past the preliminary evaluation.
- Credit – After evaluating their application form, we run the applicant’s credit and look at their financial history and creditworthiness. But it is not always about high credit scores. Some applicants have high credit scores, but have too many financial obligations in relation to their income. And then there are applicants that have average credit scores, but reflect a well-balanced financial obligations in relation to their income.
- Landlord Approval – All the application forms, after going through evaluation and credit check, are forwarded to the landlords for review. The landlords make their decision upon their own discretion, and notify the management company which applicant is approved.
- Confirmation – After we receive the landlord’s decision, we call all the applicants and notify them. All applicants, both rejected and approved, get their copies of credit reports so they can use it for their other rental applications.