rental applications

Why is My Rental Application Taking So Long?

February 12, 2016 by khproperties 61 Comments

You’ve searched for a rental and finally found the one you want. You’ve read all about how quickly the rental market is moving, so you rush to fill out the rental application, including what you feel is way too much personal information, and submit it along with the rental criteria and any other forms required by the property manager, plus an application fee. Then you wait. And wait. And wait some more. The clock seems to move slower than molasses and you’re beginning to worry that something is wrong and you won’t be approved. Why is your rental application taking so long? Why don’t you have an answer yet?

The Rental Application Process

Most people don’t quite know what goes on “behind the scenes” after you submit a rental application, so we thought we’d pull the curtain back and help you understand what it is that takes so long. Typically, most applications take 2-5 days (it used to be about 2-3 days, but now we’re seeing it closer to 2-5 days) for a decision, but there are instances where it may take more. We should note, the management company has up to seven days to make a decision – if they don’t make one in the time allotted, the application is considered rejected by default. That doesn’t help to put anyone’s mind at ease when they’re worrying about how much time the process is taking, but it is one of the lesser known facts about Texas rentals.

So why exactly does a rental application typically take so long? The answer lies in the three main components of the process. First a credit and background check will be conducted. There are companies that do these checks – they connect to national databases for credit and criminal background information, and depending on the company, they may also check eviction databases they maintain, search for social security number discrepancies, and show any previous attempts at verification from other property managers. These reports actually take up only a small amount of time and after inputting the information into their system, the average time for the reports to come back is probably less than an hour. The longest I’ve ever waited was about 5 hours.

The next two items are the real time killers. There are two items that need to be verified – your rental history and your employment and income. In order to do that, a property management professional will send forms to your current landlord and employer. Along with those forms, they will send Page 4 of the TAR Residential Lease Application, which is an Authorization to Release Information Related to a Residential Lease Applicant (that’s a mouthful!). Much like it says in the form name, it gives your employer or landlord permission to release information to the company processing your rental application.

Unfortunately, we often see these forms sent, but not returned in a timely fashion. We will often try to contact whoever is listed on your application (your boss, supervisor, or human resources manager or the apartment manager or landlord) a few times to see if we can speed up the process, but many times we are met with, “I didn’t receive that” or, “Can you send it again?” This is where the bottleneck occurs – without the forms, we can’t verify important information, so we just have to keep trying.

Apartments are actually the worst at returning these forms and it can be quite frustrating. Not only do they go a bit slower than everyone would like, but if you haven’t given your notice yet, many apartments will not release any information on your rental history. This can lead to your application being turned down for unverifiable information (check the property manager’s rental criteria for exact details of their requirements).

The process takes a while and it can be frustrating. As a property manager, we want to speed up the process, as getting a tenant in the home is our ultimate goal and every day the rental is not filled is costing the owner money. We recognize the issues and work to find ways to help the process along, but these forms are really in someone else’s hands and more often than not, they are the cause of your rental application taking so long. The best way you can help? Provide good contact information and include a name, telephone number, fax number, and email address for the appropriate contact. If you only give the bare minimum contact information, that means someone has to track it down, further slowing the process down. Always fill out your applications completely and make sure you write legibly – it really does matter!

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Read the Rental Criteria When You Apply For a Rental

February 5, 2016 by khproperties Leave a Comment

In processing rental applications, we often come across applicants that say “I didn’t know that.” Trouble is, they should have known it, because it is spelled out in our rental criteria, a document that we require to be signed by the rental applicant. The rental criteria vary between property managers, but should always be looked at carefully when considering applying for a rental. If you fail to read what you’re signing up for, you may find some surprises later down the road. While every form differs in content, there are some basic items that will be covered in any rental criteria forms you may come across. Not only is it important for you to see the rental criteria, it is required by the Texas Property Code – Sec. 92.3515.

Rental Criteria – What Does It Contain?

A set of rental criteria, typically printed on a page or two and most often requiring a signature (which it should), will contain the basic outlines of how your application will be processed. It should contain information about income requirements (typically 3x rent here in San Antonio) and possible reasons for denial of your application. Most rental criteria in San Antonio will also contain information about renting with pets and in particular, non-allowed breeds (the so-called “aggressive breeds”). In the reasons for possible denial, it should clearly state what items will be looked at and how negative items reported will affect your application.

An example list might include being denied for falsified information, incomplete information, unverifiable information, insufficient income, type/breed/numbers of pets, criminal convictions (in particular violent, sexual, fraud, and drug charges can be cause for immediate denial), poor credit history, negative rental history, evictions and broken leases, and any behaviors that might indicate an unruly, disruptive, or violent applicant. Most applications allow for some explanation of any negative items that may appear and you should always take the opportunity to explain so that it may be carefully considered along with the other data the processor might find. It is always better to tell the property manager up front, then to neglect to tell them and have them find a major item in their checks. No property manager likes surprises.

A Note About Unverifiable Information

Many applicants will hurriedly fill out an application and leave a lot of information blank. Two of the biggest items we often see skipped over are fax numbers and email addresses. Although we can go InstantInfo Systems for the best fax solutions, the issues are still many. Fax numbers are getting less common and email is king, but neglecting one or both of these items for your employer or current address (if you’re renting) is one of the worst things you can do to your chances for approval. When your application is processed, your employment is verified and your rental history is requested from your current address. If the person processing your application cannot get a hold of these people and cannot track down the information, you may be denied for unverifiable information. We see it a lot where we call and call and call your current landlord, and particularly when it comes to apartments, they do not respond with information on fax numbers or email addresses. We are required to document these items (there are specific forms that we use to request the information) and Page 4 of the Texas Association of REALTORS® Residential Lease Application is an Authorization to Release Information form which gives us the right to collect that information from your employer and landlord (and authorizes them to give it to us).

In addition to trying to track down that information, one of the biggest issues renters face is when they’re applying for a new rental while still under a lease at another place. Most landlords/property managers will not release rental history if you have not given notice. Apartments are notorious for this and most of them here in San Antonio will simply deny our requests for information if you have not given them the required notice. Without rental history verification, we cannot process your application fully and you can be denied for unverifiable information. During a stressful process like this, you can vent on sites such as 먹튀검증.

Make sure you read the rental criteria so you know just how and why you can be denied. If no rental criteria is offered to you – ask for it. If someone refuses to give you a copy of their rental criteria, they can actually be held responsible for giving you your application fees back if you are denied.

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Why Does a Rental Application Require So Much Personal Info?

January 8, 2016 by khproperties 3 Comments

When you’re looking to rent a house in San Antonio, you’ll eventually need to fill out a rental application. A lot of people hate filling them out for two reasons – one, there’s a lot to be filled out and two, the rental application asks for a lot of personal information. We thought we’d go through the application and look at the reasons behind some of those questions and what landlords and property managers are looking for. We can tell you from experience, the better job you do filling out the information requested on the application, the quicker and smoother the application process will go. And take our advice – you’re better off being open and honest on the application, because if the person processing it finds bad things that you “forgot” to mention, chances are your application will be denied.

The Rental Application and Personal Information

Social Security Number – The big one. Everyone questions why a social security number is required on just about anything. We’ve been taught to guard this number with our life and worry anytime someone asks for it. In the case of rental applications, it all comes down to your credit. Landlords want to be sure you’re creditworthy and they will run a credit report on you in order to avoid potential credit problems. Every property manager and landlord has their own set of criteria of what is/is not acceptable, but everyone of them will be looking to your credit for answers on whether or not to approve your application. In some cases, your social security number will also be cross checked with your name in various databases looking for criminal records, eviction filings, and even for odd behavior with your social security number (such as multiple names being matched up with the same number – a typical indicator of identity theft).

Emergency Contact – On the Residential Lease Application (we use the Texas Association of Realtors (TAR) form, which is quite common), there is a section asking for an emergency contact. The reason for this, is that on the Residential Lease (also by TAR), there is a section (Paragraph 34.F.) that covers what happens if all the legal residents of the rental die. It’s a horrible thought, but the landlord must know who to contact and it gives that person certain legal rights to access the property, remove property, and receive refunds of the security deposit.

Other Occupants – You must let the property manager know who all is intending to live at the property, their relationship to the applicant, and their ages. In most cases (we adhere to this rule), all applicants over 18 years of age must fill out a full application. Even your 20 year old son who’s living with you, but isn’t responsible for paying the rent…his application needs to be run to check his background and any potential issues that may come up.

Former Addresses – The rental application will ask where you lived previously and this will be used to verify rental history. The application may ask for other prior addresses as well (our application asks for the last two addresses). The most important thing you can do here is provide good contact information for your current landlord or property manager. If you leave these blank, the person processing the application will have to hunt down this information, which will slow down the approval process.

Current/Former Employers – Same thing goes with this section, make sure you’re providing good contact information (and preferably more than one way to contact the person). This information will be used to verify employment, length of employment, and income. If you’re self-employed or the owner of your company, you may be asked for additional documentation in order to show income and work history.

Various Questions – The TAR Residential Lease Application has a series of questions of the second page with Yes/No checkboxes. This is definitely a section you want to fill out completely and, as I mentioned at the start of this post, honestly. If you say “No” to “been convicted of a crime?” and the processor finds evidence to the contrary, you may find your application denied. Make sure that you have your name cleared from a criminal record with the help of Manassas criminal justice lawyers who have been known well for their high reputation in this field. A landlord may be able to work with you if you’ve had credit problems, been convicted of a crime, been in bankruptcy, had a foreclosure, etc., but if you’re not telling them the truth, you’re going to wind up being denied. Make sure you approach a law firm who are helping clients struggling with debts as they are the ones who can understand your current financial position and suggest ways to lead a better life by clearing all the debts that are piled up on your head.

Authorization to Release Information – The last page of the TAR Residential Lease Application allows people to provide information to the property manager so that they can process your rental application. We send this authorization to your employer and former residence to obtain employment/rental history and sometimes your Tampa expungements records will also be checked to know whether you are a good client or not. If we don’t have this page signed, most companies will not provide us that information and without that information, we cannot process your application.

Financial Documents – Depending on the rental property management professionals, how they process their applications, and your personal situation, you may be asked to provide financial documents – anything from tax returns to pay stubs to bank statements. Typically, more documentation is required if you are self-employed or don’t have an easily identifiable source of income from a job (for example you’re living off of a divorce settlement or a trust fund). It’s the job of the person processing your application to try and get a complete picture so that they can recommend approval or denial of your application and depending on your situation, they may require supporting documentation. Rentals are much like mortgages in that the landlord is trying to mitigate their risk and take on the best qualified applicants as tenants.

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