​Finding highly qualified tenants and screening out bad ones is one of the hardest parts of managing an investment property. Ideally you want someone who pays the rent on time, respects your property and the neighbors, and won’t try to get out of the lease early. Easier said than done—but not impossible. Here are a few tips for getting it right. 

​Pre-Screening
 
Make sure your applicants filled out the application completely and followed all of the application instructions. If they can’t do this much, they probably won’t make a reliable tenant.
 
Rental History
 
Require applicants to provide a three year residence history and contact information for a minimum of two previous landlords. Search property tax records for all of the addresses referenced in the tenant’s application and contact the owners to verify that the applicant did, in fact, live in the property. Applicants sometimes provide false contact information for previous landlords. Tracking down the owners through tax records is a good way to mitigate this risk. When you talk to landlords, verify that the applicant paid rent on time, did not damage the property, and did not cause any other trouble.   

​Cash Industry Income
 
If your applicant works in a cash industry, such as bartending, ask her to submit a letter from her employer stating the employer’s name, address, phone number, and the applicant’s on-the-books and off-the-books income. Cash industry applicants often make excellent tenants, so don’t risk turning away good tenants just because their income is harder to verify.
 
Verifiable vs. Reported Income
 
Once you verify your applicant’s income, cross-check it against the income reported in the application. If your applicant is prepared to lie about her income on the application, who knows what else she has lied about?
 
Social Media
 
This should be a no-brainer, but make sure you Google your applicants and check to see what they’ve been up to on social media. www.picodash.com is a good resource for searching Instagram and Twitter. Excessive partying, drug use, and undisclosed pets are all things to look for. If your rental has a no smoking policy, check for photos of your applicant smoking cigarettes. 
 
Verify and Cross-Check Everything
 
If it isn’t obvious by now, a general rule of thumb is to verify and cross-check everything in your applicant’s application. Don’t take their word for it. Do your own research and don’t accept anyone until you have a full and accurate picture of them. It’s hard work, but you’ll be happy you put in the effort. 

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