Owner's Guide to Tenant Applications
We work with the first completed application. Completed means they have provided all required documentation and we have all the requested information for background checks, income verification, landlord history, etc.
Once an application is complete, we review it to see if they are qualified for approval or not based on this rental qualification criteria. If they are approved and their move-in date is acceptable, then we will work with them toward signing a lease. Nestwell Property Management decides on application approval.
If they are not approved or do not move forward with signing the lease, then we move on to the next completed application. When an application is completed, it is placed inline in the order of the date/time it was completed. We do not wait and compare multiple applications because of fair housing and consumer protection rules. If an applicant is approved based on our qualifications, then we will work with them.
Owner: " Do I get to have input in selecting the tenants?": No. Because of fair housing and consumer protection rules, Nestwell Property Management will make the decision on tenants and applications. The only way you would have input is if there are special circumstances or conditional approval making it necessary to check with you first. These rare circumstances usually come when they aren't approved based on something financial, like credit, but they have cash on hand, so they can make an additional deposit for added security.
An approved applicant would have acceptable income, credit, criminal history, landlord references, etc. in order for us to want to move forward with renting to them.
We will let you know once we have approved the completed application.
Owner: "What if I have friends or family interested in the home?": We highly recommend that you don't rent to friends or family. To be honest, most situations where an owner of a rental property allows friends or relatives to move into their home don't end well. There tend to be more misunderstandings on communication while friends and family think the rules and contracts don't quite apply to them the same. It is not worth damaging those relationships, which can happen often when money and contracts are involved. We uphold the contract and will not treat friends or family differently than other tenants when it comes to their responsibilities and protecting your property.
Having said all of this, we have a great track record of finding fantastic tenants. In Property management it is as much or more important to properly train, manage, and hold tenants accountable as it is to properly screen for good tenants. We are confident in our ability to do both.