Interviewing potential tenants during the screening process is your best opportunity to get to know who will be the best fit to fill in your vacancy. 

When you post a listing to Padleads and publish it to popular rental websites, interested home hunters would be able to reach out to you directly about your vacancy. In this first point of contact, you have to grab the chance to know if they possess the qualifications you have for your ideal tenant. 

If you ask the most important questions at this time, you would be able to narrow down your applicants to those who are truly qualified before you move on to more time-consuming phases of the screening process, such as property showings, virtual tours, and background checks. 

Here are a few questions you have to ask interested applicants:

1. “Why are you looking for a new place to rent?”

Asking this can already help you detect possible red flags. If they are moving because they were evicted or have bad blood with their current neighbors or landlord, then that may be a sign of bad character. 

Better reasons for moving is to be closer to their new job or because they found a better school for their children which happens to be near your area.

2. “When are you planning to move in?”

It is important to know if your timeline of property turnover matches their timeline of moving. However, this is also a way to get a glimpse of how organized they are with their life decisions. 

If they want to move in immediately, this may imply that they did not plan this ahead of time. If they are currently renting from a different landlord, they must’ve given him at least a month’s notice that they are terminating their lease. They might also terminate their lease with you in the future without informing you ahead. 

That’s still just one possibility though. Investigate why they are in a hurry to move before blindly jumping into conclusions.

On the other hand, if they plan to move in after three months, it may mean that they are still sure about whether they will indeed move, or maybe they are simply collecting their options. It also won’t be good for your business if you keep your unit vacant for them for too long because you will lose your opportunity to earn income. 

Also, put into account the amount of time you will need to prepare your unit for new tenants and check if all the appliances are in good condition.

3. “May I know your monthly income?”

Although the subject of money may be uncomfortable, but for business transactions such as this, it’s a subject that must be discussed whether we like it or not. 

An interested tenant’s response would also give you a clear idea if they would qualify to rent your unit. 

A good standard to follow is that the monthly income of your tenant should be equivalent to 2.5-3 month’s worth of rent. 

Since by this time, it’s still early to verify if they are telling the truth, and there is still the possibility that they are paying monthly debts, you can opt to ask if they are prepared to pay the security deposit and first month’s rent upon lease signing. If they can, it is a strong indication of financial stability. 

4. Are you willing to fill in a rental application form, authorize credit background checks, and give a reference from former landlords and employers?

Allowing background checks for credit standing, rental history, and employment status shouldn’t be a problem for an honest and responsible tenant. If an applicant refuses to give you access to this vital information, or makes up absurd reasons not to do so, it may mean that they are hiding something from you that might negatively affect their application. 

Pro tip: Make sure that you make it clear to them that these requirements that you are asking from them is the same requirements you request from other applicants.