Owner’s Authorization to Lease
Unless you discuss every application with the owner, you’ll approve or deny most without the owner’s input. If you approve them, you will find times when an applicant falls outside your scope of authority for various reasons such as their credit score is low, their residency or employment may be weak, have money but not income, have several pets, are requesting a 9-month lease or any other nonconforming reason. This document lets you notify the owner of the issue and get their approval (or denial) to rent the property to a particular applicant without giving them too much information and violating the FCRA. We’ve accumulated several formats from other managers for this so we’ll include more than one for you to tweak to fit your model.
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.