Official Notice of Approval – QG
When applicants are approved you’ll need a document to lock them down and make sure they follow through with the move in (or lose their money). Some managers have the tenant execute the lease immediately after approving but that may cause some challenges; especially if they read it and make a fuss over something they don’t like. You need to have some kind of enforceable document that lets the applicant know they are approved and lays out the money issues and critical dates. This document identifies the start date, move-in date, rent, deposits, fees, utility companies and other critical data for their occupancy. It puts their deposit at risk and identifies what happens if they change their mind. If you get the lease signed immediately you probably don’t need this. We prefer to hold the lease back but we get them committed as soon as they are approved. This document does just that.
Everyone knows managers Must Strive For Objectivity when approving/denying applicants but few have wrestled through the process of actually Putting It All Down In Writing … a document called Qualifying Guidelines.
For over our 35 years managing rentals in Atlanta we actually took the time to develop (and tweak for many years) the details of How To Treat All Applicants The Same to reduce the chances of a claim of discrimination. We make this document available to our students along with several of other tools for making these decisions Objectively and Safely.
Note: In 35 years, processing over 20,000 applications, Crown never had a Fair Housing claim. Clearly part of that is blind luck but the other part is consistently applying these written guidelines to all applicants, the same way, every time. Most of this happened before tenant screening companies were available so we learned how to do it in-house (codeword for By-The-Seat-Of-Our-Pants). These qualifying guidelines are the result of 25 years of perfecting the process.