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How should an Agent qualify Tenants for a Rental Property?

Processing tenant applications is an important task which, if not done properly, can result in a high-risk tenant being placed in your property.

An agent should have a set list of criteria for approving tenants which should be openly advertised and adhered to by all team members. They should have a processing checklist to follow so that no step is missed.

The following should be verified by documentation and written references:

  • Identification
  • Tenancy Default Database check
  • Income
  • Stability of employment
  • Current rental reference
  • Previous rental references

Generally it takes 1-2 business days to process an application because the agent needs to wait for references to come back.