Tenant pre-screening is one of the most important steps in property management.  A good tenant can make the difference between a cake walk and a costly nightmare. 

Henderson Management & Real Estate goes thru a four stage screening process with each tenant.  In addition to credit and background checks, we contact the prospective tenants current landlord and current employer.  We contact a prospective tenants past and current landlords because we feel that past performance is the best predictor of future performance. We feel that it is imperative to contact an applicants employer to verify they have stable employment. A spotty work history and periods of unemployment, or a tendency to change jobs frequently are often a sign of trouble to come. All of our business is conducted in keeping with the Fair Housing Act and all applicable federal, state and local laws. 

In the event a prospective tenants credit score falls close to our predetermined minimum guidelines, we will require a co-signer and co-applicant be added to the application and pre-screening process.  A co-signer added to the lease that meets or exceeds the minimum approval requirements will ensure that the terms of the lease are fulfilled without fail.

As far as income to debt, typically, a tenant must earn at least double the amount of the rent in income. This income to debt ratio can be a combination of combined income in a roommate leasing situation.   

Kroll Factual Data provides the credit and background checks on all prospective tenants. Kroll Factual Data is a leading provider of business information to property management companies.