22 reasons to reject an applicant
June 1, 2008
• Cannot pay the security deposit or fees in advance.
• Has a credit history of unpaid bills, collections, liens, or judgments or has no credit history.
• Has an unacceptable debt-to-income ratio.
• Is an unmarried minor with no responsible adult to co-sign the rental agreement.
• Previous landlord was not given proper notice or would not re-rent to the applicant.
• Previous landlord has given the applicant written notices for noncompliance.
• Cannot provide two forms of identification (one photo)
• Fails to complete and sign the rental application. One for each adult 18 years and older.
• Falsifies information on any form.
• Will not furnish references from at least two previous landlords.
• Has more people than permitted by legally adopted occupancy guidelines.
• Has pets and your policy firmly prohibits them.
• Has a waterbed and your policy firmly prohibits them (you can require insurance).
• Has several large objects that cannot be stored on the property.
• Has more than the allowed number of vehicles or has a loud motorcycle or hotrod.
• Has a history of property destruction.
• Has a history of disturbing neighbors.
• Has certain types of criminal convictions, civil judgments or eviction judgments.
• Plans to use the premises for something other than living purposes, such as a business.
• Does not earn enough to qualify for the rent which you are asking.
• Writes an initial check that is not honored by the bank.
• Cannot pay the full month’s rent in advance.
About the Author: Bob Cain
Some 30 years ago Bob Cain went to a no-money-down seminar and got the notion that owning rental property would be just the best idea there is for making money. He bought some. Trouble was, what he learned at the seminar didn’t tell him how to make money on his rental property. He went looking for help in the form of a magazine or newsletter about the business. He couldn't find any.
Always ready to jump at a great idea, he decided he could put his speaking and writing skills to work and perform a valuable service for other investors who needed more information about property management. So Bob ferreted out the secrets, tricks and techniques of property management wherever he found them; then he passed them along to other landlords.
For over 25 years now, Bob has been publishing information, giving speeches, putting on seminars and workshops, and consulting for landlords on how to buy, rent and manage property more effectively.