Blog Post

Guidelines to Consider When Evaluating a Rental Application

Dustin Edwards • Oct 02, 2020

A Consistent Process Helps Find the Best Tenants

Rental Application
Selecting a tenant is one of the largest job roles we fulfill as a property management company. It tends to be one of the more complex issues due to legality, human factor, and managing time frames for both landlord and prospective tenant. On any given year we can review 1,000’s of applications and while we can’t put everything we’ve learned into a single article we wanted to share a few key items to 

Select Rules that Don’t Require Interpretation
Especially in Long Beach and Lakewood it isn’t uncommon to receive 10,20 or even 30+ applications for a property that is well priced in one of the popular neighborhoods. In order to effectively (and fairly) sift through this volume of applications we recommend that those managing their own property identify select rules that don’t require interpretation to help you focus on the applications with the highest probabilities of becoming a tenant.

For example you can set the rule of percentage of rental amount in proportion to gross monthly income. This is a method of evaluating affordability. You can define your rule to whatever works best for you (generally for this it would be 30-40%). So for example if someone applied to your rental with a gross monthly income of $6,000 and your advertised monthly rental amount was $3,000 they would be at 50% of rent vs. gross monthly income. If you had set your rule at 30-40% then they would not be an applicant that would proceed through your process.

Set Consistent Standards
When you are dealing with housing, and most items in life, it is essential to be fair. With fair housing laws always as part of the process we encourage those who are managing their own properties to be incredibly diligent in setting standards. Many people want to make an “exception” because of a compensating factor, and while that is human nature if you don’t properly document your standards or make an exception to one prospective tenant without consideration to another prospective tenant then you could get yourself involved in an unexpected legal challenge.

We invite you to consider the following standards that you could define for your rental home in Long Beach:
  • Occupancy Limit - In general the larger number of occupants, the increased volume of wear your property will encounter. If you have a 2 bedroom/1 bathroom home for rent you probably don’t want to allow 8 residents. Set an occupancy limit on your property and ensure that the number (and names) are disclosed on the rental application.
  • Pet Policies - Are you allowing cats, dogs, birds? Whichever animals you allow (or none) be consistent in your evaluations. Just because a prospective tenant was “really nice” doesn’t mean they get to have a dog if you told the other prospective tenants that dogs weren’t allowed.  Make sure that you have a pet policy in place that you can delivery to prospective tenants to avoid any confusion.
  • Complete/Incomplete Applications - If an application isn’t complete are you reviewing? Or are you asking someone to complete it? Whichever way you decide, make sure you are consistent in how you handle the applications.
At Beach Cities Property Management we pride ourselves in fairly evaluating every rental application to ensure our property owners get the best possible tenants. When you would like to find out more about how we help evaluate rental applications we invite you to request our Free Rental Analysis to see how we can help.

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By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
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