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How to Screen Tenants with Best Tenant Background Check Practices | Mentorship Monday - YouTube
Channel: Derosa Group
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hey everybody this is Liz and this in
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Jessa and we're excited to be here with
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all of you for a mentorship Monday this
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week I know you get tired of seeing max
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movies and our faces are just much more
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lovely so as you know I'm Matt's wife I
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also helped run the Douro circuit but
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I'm also involved with a really great
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initiative with my partner here and
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dress up yeah we run the real estate
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investor podcast and it is a podcast
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dedicated to women investors who are
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interested in increasing their financial
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well-being becoming financially free and
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living a balanced life yeah so anything
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I'm missing well we also have a Facebook
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community called in fast our community
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so if you didn't know about it check it
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out we have about 500 members basically
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are women from around the world
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basically that join us and offer support
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it's kind of like instant we have
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big-time players there and just folks
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that are just starting out and when
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somebody jumps in and say hey this is my
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issue you know like a lot of ladies are
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gonna jump in to to answer the questions
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that give the support that you need so
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check it out yeah so we'll put that in
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the link below in the podcast as a
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weekly podcast comes out on every Friday
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and it's called the real estate investor
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podcast but you can find it we'll put a
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link below just the real estate investor
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com so without further ado or to answer
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a mentorship Monday question for Adam
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mm-hmm we don't know Adam is from but
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thank you Adam for asking the question
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and for anyone that has any questions
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please send them to help me at DeRosa
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group comm and we will answer them on
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our YouTube page every Monday we do this
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so he asked a question I really liked
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the tenant tenant standard sheet that
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you've sent so we put together we have
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managed property for many years we put
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together almost like a standards of
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which you should be evaluating tenants
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you got to be consistent and used the
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same standards and that's a tell other
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mentorship Monday but but anyway he
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looked at some of the standards that
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we've used and we sent them to him
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basically his question was when you have
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multiple tenants and you're mobile
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people that you're evaluating you know
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so to speak or or you know it's not
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valuating was
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what's the better word not evaluating
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your the applying or applying applying X
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or it's sorry so here's my question is
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it right or ethical to ask all qualified
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tenants or all qualified you know people
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interested in the unit to fill out the
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application and pay for the background
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check before you would check the
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references or do you simply think of
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this as a you know weeding out process
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so his basic concern is he doesn't want
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to necessarily make people pay right if
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you're not going to accept them and I
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get that however few things you
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definitely want to check out people's
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references but like with all references
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you have to take them with a grain of
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salt right so if you're asking someone
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hey how did Joe Schmo do it you know how
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do you know whatever the questions are
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that you ask you know consistently to
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someone they may or may not be honest so
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you're always your best tool that you
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have is obviously evaluating credit
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score evaluating employment and
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evaluating you know their their criminal
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and background check that's the best
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stuff you've got everything else is kind
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of secondary I feel so my point of
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saying that is yes you do want to you
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want to have every person that's going
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to be on this lease complete an
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application and pay for their you know
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pay the application fee which goes to
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you know really running their credit and
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in their background check and then what
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happens from there is what happens from
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there I mean you can't feel bad if they
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don't you don't accept them because they
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may not be a fit for your you know for
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your unit yeah I want to touch base when
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he says about the the feeling of guilty
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sometimes we want to be compassionate
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with people and understanding and make
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sure they were being fair
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this particular landlords have to have
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that like emotional side put aside for
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it for a second when especially when you
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are evaluating quote-unquote evaluating
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people to be at your property be
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rational and fair does not mean that you
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are treating people last it's just part
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of the process and I think that when you
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do that with every single person
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so there's no like okay I'm just gonna
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do this for you because XY and Z then it
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gets very emotional so when we put that
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emotion aside every single feeling and
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just follow the process it's just
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business and and then it is just part of
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the process there's nothing that you can
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do and this will as you said already
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said to yourself will only be the you
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know the people that won't hold five
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regardless yep I will add one more thing
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too it's really helpful to share with
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people who are prospective tenants your
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standards yeah so depending on the
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credit score that you accept what you
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have to say on the criminal and
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background check you know whatever your
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requirements are and your standards are
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sure it with them because then if they
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don't if they know that and they say and
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they thought the application and they
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say yeah yeah I have no criminal issue
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you know no then they coming back you
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know that's not the case you know you
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can't feel too bad that's yeah that's on
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them you know so you have to give people
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kind of upfront information yeah give
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them kind of like your own standards I
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think that helps absolute gotta be very
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transparent so this is this is the
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standards bingo-bango you know dieting
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good know now well thank you Adam for
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submitting a question and for everyone
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watching this submit questions that help
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me at DeRosa group comm and we will
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answer them for free on this on this you
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know series we have mentorship Monday
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and then lastly please check out for the
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ladies watching this for the ladies that
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you know in your life ladies that are
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interested or current and investors yeah
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check out our our Investor community and
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show the real estate investor calm and
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learn more about what we're up to and
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all of our great episodes awesome thank
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you for watching thank you bye
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