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4th Interview with Marc Cunningham of Grace Management & Investment.
PmDave: How Long Do a Rental Application Take to Get Approved?
Marc Cunningham: As far what we are looking for we base our applicants on a point system. We look at the rental history, a credit history we pull a criminal background check, eviction background check a sexual predators check we look very thoroughly. We figure that is the key to the whole thing is tenant placement getting a good tenant in pay the rent on time and take care of the property and it is going to make our life's easier as a property management company and you as a landlord because they are going to take care of your house that is the key to the whole thing so we do focus really heavily upon that.
Owners always ask are the people with a bankruptcy going to keep them out, if they have had a foreclosure and our answer is no we look at all those things together some of the best tenants we have have been foreclosure on in the past couple of years. They had a house with a loan they couldn't afford they had been there 10 years and they have the home owner process going through their head that is good and they make good tenants so we gotta look at all those things together.
If they score high enough on out points system they will normally make good tenants that way.
In terms of time to process it varies on how complete their information is sometimes it takes us 2 days for us to get a hold of a landlord out of state.
Ideally we shoot for about 24 hours once we receive an application to getting a yes or no either you are approved or you are not within 24 hours.
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