Attract and Select Quality Tenants – BanCal Property Management

Appfolio Websites • October 23, 2020

APPLICANT SCREENING PRACTICES TO ATTRACT AND SELECT QUALITY TENANTS :

An Integral Step to Leasing Your San Francisco Rental

Screening applicants and leasing your San Francisco rental unit can be intimidating, but it doesn’t have to be.

Establishing some goals for what you want to accomplish with your rental property will provide direction and simplify the process. You’ll end up with positive results that align with your plans. For example, if you plan to return to the property yourself to live there, you’ll want to seek out short-term tenants. On the other hand, if you expect to hold onto the property as a long-term investment for five years or more, you’ll look for high-quality, long-term tenants.

ACHIEVING YOUR SAN FRANCISCO LEASING GOALS

To attract qualified applicants, many industry professionals like us use Applicant Screening Practices. But before your search begins, it’s useful to think like the applicant you want to attract. Who is your ideal tenant?

1) THINK LIKE GOOD, QUALIFIED APPLICANTS BY UNDERSTANDING THEIR NEEDS.

First, “be” the applicant you want. Within the basic need for shelter, we all want a level of safety, security, and privacy in our homes. These are the same attributes good applicants look for in homes they choose to rent.

When applicants know they’re thoroughly screened, you’re signaling that you’re selective and care who lives in your property. With that comes a sense of security and the feeling that you care enough to create a safe environment for the tenants living in your property.

Additionally, when applicants know that you follow Landlord Tenant Law with policies such as giving proper notice before entering a tenant’s unit, it demonstrates your respect for their privacy and builds trust.

2) OFFER MODERN CONVENIENCES.

Potential tenants expect and appreciate modern conveniences that fit their busy lifestyles. They’re attracted to amenities like the ability to make rental payments directly from financial institutions or through apps like PayPal and Venmo. They expect a tenant portal for access to account and lease information, and they want to be able to schedule repair requests online. They’re looking for multiple communication options, hoping to be able to contact their property managers via email, text, and through their tenant portal.

These comforts signal customer-centric service that can attract the type of tenants you want in your property.

3) CONSIDER ATTRACTING LONG-TERM TENANTS.

As I mentioned earlier, if you’re planning to hold property as a long-term investment for three or five years or even longer, long-term tenants would be beneficial to you. Screen applicants for longevity as well as their ability to pay rent.

Most of your work and expenses are incurred at tenant turnover. It’s cost-effective to minimize the frequency of vacancies that can result during periods of lost rent. As you’re screening, consider the applicant’s rental history. How often did they move and for what reason(s)? Ask their previous managers if they maintained the property in good condition, or if they were a nuisance. After they move in, be responsive, return calls, and quickly address repair issues to retain them as tenants.

Filling vacancies with long-term, low-maintenance tenants will result in an ongoing source of income and peace of mind for many years.

Applicant screening practices and convenient amenities offered can attract qualified applicants that can become the kind of tenants you want living in your property.

The effort taken to screen applicants, follow California Landlord Tenant Laws, and offer modern conveniences to candidates increases the likelihood of attracting and placing great tenants in your property. As a bonus, you’ll avoid costly penalties that come with legal violations and you’ll also avoid those negative online reviews that are difficult to cancel.

OUR APPLICANT SCREENING AND TENANT PLACEMENT SERVICES

BanCal Property Management has been attracting and retaining quality San Francisco tenants since 1987—people whose track record and financials add up, who respect your investment and treat it like their own.

We work quickly to minimize vacancy, facilitate communication between property owners and recommended applicants, and execute mutually beneficial lease agreements.

To hear more about our services, please contact us. We also welcome your comments, questions, and suggestions for topics you want to learn about, so please share those too.

Thank you and we hope to hear from you soon.

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