App processing time (by Dawn [GA]) Jul 23, 2014 5:11 PM
App processing time (by Dawn [GA]) Jul 23, 2014 5:13 PM
App processing time (by Patti [OK]) Jul 23, 2014 5:15 PM
App processing time (by Tx mike [TX]) Jul 23, 2014 5:35 PM
App processing time (by Rrents [PA]) Jul 23, 2014 5:39 PM
App processing time (by Jeffrey [VA]) Jul 23, 2014 5:45 PM
App processing time (by ntj [GA]) Jul 23, 2014 5:51 PM
App processing time (by Dawn [GA]) Jul 23, 2014 5:53 PM
App processing time (by ALDO [WI]) Jul 23, 2014 6:08 PM
App processing time (by David [MI]) Jul 23, 2014 6:20 PM
App processing time (by Vee [OH]) Jul 23, 2014 7:39 PM
App processing time (by GA [GA]) Jul 23, 2014 8:55 PM
App processing time (by BRAD 20,000 [IN]) Jul 23, 2014 9:52 PM
App processing time (by Lisa [NY]) Jul 24, 2014 5:40 AM
App processing time (by Dawn [GA]) Jul 24, 2014 5:58 AM
App processing time (by Lisa [NY]) Jul 24, 2014 6:51 AM
App processing time (by Dawn [GA]) Jul 24, 2014 7:15 AM
App processing time (by Paul W [OH]) Jul 24, 2014 8:43 AM
App processing time (by Nicole [PA]) Jul 24, 2014 9:16 AM
App processing time (by BillS [CO]) Jul 24, 2014 9:51 AM
App processing time (by Nicole [PA]) Jul 24, 2014 11:38 AM
App processing time (by Robert J [CA]) Jul 24, 2014 12:21 PM
App processing time (by Dawn [GA]) Posted on: Jul 23, 2014 5:11 PM Message:
Hi Guys.......just wondering how long it takes everyone to process apps? I just lost what I think would have been a good tenant. He gave the application to me on Monday. I heard back from his last landlord reference today and then had one more item to check....and was going to offer it to him tomorrow morning. Working the day job it takes time to track down the landlords and such. Just wondering what everyone else's timeline is. Thanks in advance.
--108.202.xx.xxx |
App processing time (by Dawn [GA]) Posted on: Jul 23, 2014 5:13 PM Message:
Forgot to add, he put money down on another place today because he thought I wasn't sure about him. I didn't think I gave him that impression....was just verifying everything..but apparently I was too slow. --108.202.xx.xxx |
App processing time (by Patti [OK]) Posted on: Jul 23, 2014 5:15 PM Message:
We nave a service to run our apps and it all depend on how fast the information gets back to them and usually takes 2-3 days at the most. --72.198.xx.xx |
App processing time (by Tx mike [TX]) Posted on: Jul 23, 2014 5:35 PM Message:
On my instruction sheet I give out to my applicants, it says that they will be notified within 24 hours of submitting application if approved. --138.229.xxx.xxx |
App processing time (by Rrents [PA]) Posted on: Jul 23, 2014 5:39 PM Message:
I process an application in the same day. I'm set up to run credit & background checks in the home office. After spending 9 years in commercial credit, I'm very comfortable reading a credit report (don't bother paying for credit scores either).
Also, I don't check LL references as I really don't see much value to it. Do other LLs really provide an honest reference if they wanted to get rid of a bad Tenant.
The only delays I may run into are income verification if the applicant did not provide a copy of a current pay stub when completing the application (as requested in the phone screening process). --72.95.xxx.x |
App processing time (by Jeffrey [VA]) Posted on: Jul 23, 2014 5:45 PM Message:
Within 24 hours. --108.39.xxx.xxx |
App processing time (by ntj [GA]) Posted on: Jul 23, 2014 5:51 PM Message:
I run the credit and background as soon as I get the app and fee. I call the references the same time. I give them updates if something is delayed and hope they will help move the process along. "Hey Bob, the credit and background checks look good. Just waiting to hear back from ..." and will let you know as soon as I do. This usually prompts them to have HR or the last LL or whatever call me pretty quick --73.184.xxx.xxx |
App processing time (by Dawn [GA]) Posted on: Jul 23, 2014 5:53 PM Message:
Thanks for the replies. I was too slow. Oh well, I do see value in obtaining LL references so I will continue to do that. I will just try to speed up on everything else. --108.202.xx.xxx |
App processing time (by ALDO [WI]) Posted on: Jul 23, 2014 6:08 PM Message:
I tell all applicants that, if their application is accepted, I will contact them within 24 hours. That relieves me of the unpleasant task of contacting rejected applicants.
I agree with Rrents above regarding contacting applicants' current landlord. Last month I was uncomfortable a 'too good to be true' applicant so I called their landlord who gave a glowing report in every respect. Then I checked the court records and found they had 11 evictions in the past five years and that doesn't include the eviction newly filed by the landlord who gave me that glowing report. --70.92.xxx.xxx |
App processing time (by David [MI]) Posted on: Jul 23, 2014 6:20 PM Message:
"24 hours"? What if they submit after 5pm on Friday? How do you have time to call their employers? That is why I say 2-3 *business* days. --108.226.xx.xxx |
App processing time (by Vee [OH]) Posted on: Jul 23, 2014 7:39 PM Message:
I ask for 2 days, call me and I will update you incase there is a information blockage... --75.94.xxx.xxx |
App processing time (by GA [GA]) Posted on: Jul 23, 2014 8:55 PM Message:
Dawn - I agree with you - I can get the credit report quickly, and I do. Within a matter of hours I know the credit situation. If it checks out, then I start checking FORMER LL's and employer. That usually takes longer, but I communicate with the applicants while I am doing that.
I think you might have been better off if you had communicated with this person during the process. --74.190.xxx.xxx |
App processing time (by BRAD 20,000 [IN]) Posted on: Jul 23, 2014 9:52 PM Message:
Dawn,
Ya snooze ya looze.
We all have competition in the LLs who do no screening.
Our goal is same day if they supply pay stubs. 48 hours tops.
The prospect is online, looking all day and into the evening. We are just one of many houses they are looking at. --67.175.xx.xxx |
App processing time (by Lisa [NY]) Posted on: Jul 24, 2014 5:40 AM Message:
Dawn,
I too see value in contacting former landlords, I have learned about undisclosed pets, smoking and late payments this way. I tell people 48 hours and if information is delayed I give them an update so they do not go elsewhere. I think your only mistake was a lack of communication. Screening is too important to rush. --67.82.xxx.xx |
App processing time (by Dawn [GA]) Posted on: Jul 24, 2014 5:58 AM Message:
Yep, I wasn't snoozing but I sure did lose :( Very bummed. He was kind of my 2nd string and I wanted to check out one other applicant. But then that applicant's former landlord reported $900+ in damages and unpaid balance. By the time I got back to him, he was gone. I need to start doing the credit check first thing. I have used E-Renter in the past, but they don't allow you to see the credit report..they just tell you if the applicant meets your standards. Does most everyone use the credit check service on this site? I would prefer to see the whole credit report. --108.202.xx.xxx |
App processing time (by Lisa [NY]) Posted on: Jul 24, 2014 6:51 AM Message:
Dawn,
I have used the credit checking service on this site and would recommend it.I like to see the FICO score and review their debt myself. Tenants often misrepresent debt. For example, many fail to list student loans and car loans despite the fact that my application specifically requests this information. --67.82.xxx.xx |
App processing time (by Dawn [GA]) Posted on: Jul 24, 2014 7:15 AM Message:
Thanks, Lisa. I think I will also use the service listed on this site. I appreciate all the responses. I am making mistakes but am learning a lot thanks to everyone's comments. --108.202.xx.xxx |
App processing time (by Paul W [OH]) Posted on: Jul 24, 2014 8:43 AM Message:
I tell folks 2-3 business days depending on responses by employers and current and prior LLs.
First I check our clerk of court's website - we're lucky in Hamilton County - it's quite good - or the court website where they've lived over the past 2 years. Free and quick.
Then I verify ownership of prior addresses to LLs listed via auditors' websites. Free and quick.
If they pass so far, I run credit (in large part to verify addresses) & criminal report. At the same time I make calls to LLs and employers to get that ball rolling. I have had current and prior LLs provide information that has caused me to reject an applicant so I feel it's important. They don't always respond (or provide so little info it's useless) but in my opinion, important.
If I don't get a response from LL, employers, gotta go with what I got.
--75.186.xxx.xxx |
App processing time (by Nicole [PA]) Posted on: Jul 24, 2014 9:16 AM Message:
I realize that "private" landlords have a different risk than big complexes but I saw first hand last week how a complex works.
I have a friend who is self employed in a family business and he resides on one of their properties. Due to several issues, he decided to move off premises. We looked at quite a few places. The place he liked is a brand new upscale "villa" in a complex. She gave him a VERY basic application and he filled it out in a few minutes while we were in the office. No job verification since he would be the one to verify with, no prior landlord to check with. They ran his credit and criminal record and he was approved in 1.5 hours.
No deposit, the $40 application fee is applied to the first month's rent, and his 12th month rent is free if he pays the first 11 months on time. We did this last Friday and he will be given the keys tomorrow ... next week is also a "free" week since rent isn't due until August 1 although it must be paid prior to his receiving the keys tomorrow.
--174.55.xxx.xxx |
App processing time (by BillS [CO]) Posted on: Jul 24, 2014 9:51 AM Message:
Good info Nicole (PA). No one is giving away anything here as there is no need to but I know they will if the time comes. --75.160.xxx.xxx |
App processing time (by Nicole [PA]) Posted on: Jul 24, 2014 11:38 AM Message:
yup Bill, EVERY complex we went to was offering something. The few places we looked at that were privately owned could not compete, AT ALL, with the complexes. Not sure if his credit report gave the complex "good vibes" about his finances or if they just take a chance on anyone ... or since he's in business, perhaps they googled him and saw good things. No idea what the complex based their decision on once he said he told them there was no way to verify employment or past living situation. --174.55.xxx.xxx |
App processing time (by Robert J [CA]) Posted on: Jul 24, 2014 12:21 PM Message:
A lady friend wanted me to see her parents apartment building since they had their first vacancy since inheriting it from their grandmother. I was familiar with the current rents, I had just rented a 1 bedroom close by days before.
My friends father took an old rental sign from the basement and posted it on the lawn. They were asking $830, $30 more than other 1 bedroom units. I told the family to be quite and allow me to take over the showings for the first hour.
I removed the listed price on the sign, way too low, and wrote -- "Inquire within for Today's Special!" Something I learned from attending a Mr. Landlord convention.
The neighborhood had 10 similar rentals, all in competition with one another.
The first person walked in the door. She was a professional, 29, came from out of State to work for her new employer. Something to do with publishing. She had a letter from her employer that guaranteed her next two years of employment at $135,000 per year. She also had a trust set up by her grandparents with over a million dollars in it to help provide for her basic expenses like rent, insurance and vehicle costs.
She asked if the apartment came with appliances, like refrigerator, washer/dryer, dishwasher, stove and microwave.
I explained that this was an older building with charm, not a modern box like design. We were asking $1,395 but were expecting several occupants and possible a pet. Since you are a single occupant without any pets, we could lower your rent to $1,295. The unit comes with a refrigerator, stove, dishwasher and there's coin operated laundry machines in the basement.
But I said, at this price the unit's going to go fast. If you fill out an application now, I can run your credit and give you an answer within 15 minutes. She filled out an application and her credit came back perfect. I told her she needed to sign a lease and come up with the move in costs, first of $1,295 plus security of $1,200 -- a total of $2,495. She left for her bank saying she will be back soon.
In the mean time I wrote up a lease on my laptop and printed it out at another tenants printer.
The applicant came back with cash and we signed a lease that day. The owners were so happy that I was able to get them $465 dollars more per month. While re-keying the locks the new tenant came back because she decided to look at the other units and said had she not taken this unit, should would have taken on of the others instead.
Having the ability to run credit on the spot, got someone who was willing to pay $5000 more a year than expected.
--108.47.xx.xxx |
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