{"id":167812,"date":"2024-05-08T16:30:33","date_gmt":"2024-05-08T16:30:33","guid":{"rendered":"https:\/\/sdpremiumproperties.com\/?p=167812"},"modified":"2024-05-08T16:30:52","modified_gmt":"2024-05-08T16:30:52","slug":"what-to-look-for-in-an-application","status":"publish","type":"post","link":"https:\/\/sdpremiumproperties.com\/index.php\/2024\/05\/08\/what-to-look-for-in-an-application\/","title":{"rendered":"What to look for in an application"},"content":{"rendered":"

When you review rental applications, knowing the signs to look out for \u2013 both good and bad \u2013 can help you\u00a0fine-tune your tenant selection.\u00a0<\/span><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

Red flag: Unverifiable or false information on the application<\/span><\/strong><\/p>\n

Fabricated details regarding income, employment status, rental history, or personal information is a good reason to question an applicant’s credibility and suggests they may not be a reliable tenant.<\/span><\/p>\n

\u00a0<\/span><\/em><\/p>\n

Greenlight:<\/span><\/em>\u00a0Open and honest communication and someone willing to answer any questions regarding the application.<\/span><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

Red flag: Insufficient income\u00a0<\/span><\/strong><\/p>\n

When you review an application, make sure the tenant earns at least 2.5 to 3 times the monthly rent. When an applicant’s income falls short of these benchmarks, require a cosigner to act as a guarantor for the lease agreement, ensuring financial responsibility in case of default or missed payments.<\/span><\/p>\n

\u00a0<\/span><\/em><\/p>\n

Green light:\u00a0<\/span><\/em>Income that can cover the rent\u00a0and someone with responsible financial habits.\u00a0<\/span><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

Red flag: History of late payments or evictions<\/span><\/strong><\/p>\n

Consistent late payments or a prior eviction increases the likelihood of future payment issues or property damage. Whether they missed rent payments, abused a rental, or were evicted for a different reason, do not rent to someone who cannot follow property rules.\u00a0<\/span><\/p>\n

\u00a0<\/span><\/em><\/p>\n

Green light:\u00a0<\/span><\/em>On time, rent payments and a history of responsible property care.<\/span><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

Red flag: Criminal background<\/span><\/strong><\/p>\n

An application that lists criminal activity is a sign to proceed with caution. Since local and state regulations can vary significantly, property owners should assess each situation carefully, considering the nature, severity, and recency of the offense, and how it might affect the rental property or community. <\/span><\/p>\n

\u00a0<\/span><\/p>\n

Depending on the circumstance, property owners can deny housing to individuals with certain criminal convictions that pose a direct threat to the safety and well-being of other tenants or property, as long as these decisions are made without discriminatory intent. However, other criminal activity such as drug usage for example, are not legal grounds for turning down an applicant.\u00a0<\/span><\/p>\n

\u00a0<\/span><\/em><\/p>\n

Green light:\u00a0<\/span><\/em>When an applicant includes a letter with their application that explains the situation.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

When you review rental applications, knowing the signs to look out for \u2013 both good and bad \u2013 can help you\u00a0fine-tune your tenant selection.\u00a0 \u00a0 Red flag: Unverifiable or false information on the application Fabricated details regarding income, employment status, rental history, or personal information is a good reason to question an applicant’s credibility and […]<\/p>\n","protected":false},"author":2,"featured_media":167813,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"coauthors":[24],"class_list":["post-167812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/sdpremiumproperties.com\/wp-content\/uploads\/2024\/05\/sd4.jpeg","_links":{"self":[{"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/posts\/167812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/comments?post=167812"}],"version-history":[{"count":1,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/posts\/167812\/revisions"}],"predecessor-version":[{"id":167814,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/posts\/167812\/revisions\/167814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/media\/167813"}],"wp:attachment":[{"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/media?parent=167812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/categories?post=167812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/tags?post=167812"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/sdpremiumproperties.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=167812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}