The Tenant Section Process

By
Real Estate Agent with KW Elite

      The Equal Credit Opportunity Act prohibits discrimination in the lending process 

and applies for all lease applications. Property Managers need to know and implement 

the Act into all of their tenant selection activities. Property Managers need to conduct

themselves in a consistent and systematic manner . The Property Manager should use

the same Lease Application for every applicant. Additionally if the Property Manager 

requires a Credit Report from one applicant, they must require them for all applicants .

The same can be said about Criminal Background Checks . A Property Manager will use 

the following when evaluating potential tenants :

1. Credit References & Credit Report 

2. Criminal Backround Check 

3. A Search of the Public Record 

4. Information on previous Landlords 

5. Employment History and Income information 

6. Possible Application Fee 

7. Monthly Rent and Security Deposit required 

8. Monthly utilities to be paid by tenant 

9. Consistent Qualify Ratios ( % of gross income) 

     Finally a Property Manager must also disclose who they Represent and advise the consumer 

     of Mandatory State Disclosures.                                                                                                    

 

Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Comments (15)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share.

Take care, be safe and have a very productive month.

Nov 08, 2020 09:08 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Yes, you have that right, Michael the same treatment for all applicants.  Even if they are a convicted felon.

Nov 08, 2020 10:27 AM
Wanda Kubat-Nerdin - Wanda Can!

Uhhhh...not true Rocky Dickerson, they are both convicted felons. 

Mar 05, 2021 02:14 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Great message, now in all fairness Rocky Dickerson  stole the show with that comment:))Endre

Nov 12, 2020 09:21 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Yes so true, and of course keeping Fair Housing Regulations in mind for ALL -  All the time!

Nov 13, 2020 05:21 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Saturday morning, Michael.

Have a outstanding weekend. We have a beautiful day in Maryland.

Nov 14, 2020 07:38 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Michael J. Perry - the rules are straight forward and you won't get in trouble if you follow the guidelines consistently.

Nov 16, 2020 05:08 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for your comment on my recent post.

Take care, be safe and have a great day.

Nov 17, 2020 07:22 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, great information for the public to know what a property manager does!  

Nov 20, 2020 06:44 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Michael J. Perry - You're such a professional. Consumers need to know what they can expect when it comes to renting. I have no doubt that when it comes to real estate, you serve your clients with the highest integrity. Fair Housing is very important.

Nov 26, 2020 04:14 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I hope you are enjoying the holidays. Have an outstanding weekend.

Happy New Year!

Jan 02, 2021 07:18 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael J. Perry  hope all is well just wanted to stop in and wish you a Happy, Healthy and prosperous New Year, Endre

Jan 03, 2021 01:33 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Sunday morning, Michael.

Thank you very much for commenting on one of my recent posts.

Jan 17, 2021 06:15 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Anyone can qualify as long as the evaluation guidelines are met. Good reminder Michael!

Mar 04, 2021 05:41 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Micheal. Fair is fair and sometimes the government must over step to get there. Enjoy your day and surpassing 2 million.

Mar 05, 2021 04:19 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Roy Kelley is right!

Mar 05, 2021 04:24 AM

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