tenant turndowns - Posted by JB

Posted by SandyFL on July 12, 2001 at 21:15:51:

Are you sure that is acceptable? I mean when you apply for credit anywhere else and they reject you, they have to notify you of the reason in writing. Does the Fair Credit Act have any bearing on this?


tenant turndowns - Posted by JB

Posted by JB on July 12, 2001 at 19:43:13:

Does anyone have a suggestion on handling potential tenant credit application rejections? We are having open houses and charging a $25 application; knowing only one applicant will be selected. We are handling this piece meal and not making a business of running credit bureaus. Any thoughts are appreciated. Thanks.

Refund Remaining - Posted by PBoone

Posted by PBoone on July 12, 2001 at 23:42:19:

We always let the potential tenants know the probable reasons for rejection. First come first serve and do not pull credit once a applicant has been approved. The remaining we refund the money if we have not incurred costs

Re: tenant turndowns - Posted by ken

Posted by ken on July 12, 2001 at 20:38:04:

My suggestion is this:
When you have them apply, you should let them know verbally AND in writing saying something like this…

" You will be notified within (enter a time frame here of say 2 day or 2 weeks, or whatever time you think you will need.). If you haven’t been notified, you haven’t been qualified for the (purchase…lease) of the home located at… There may be another home that you can qualify for in the near future, though. Should we keep your file on record in case this happens? "

This allows you to build up a list as well as not need to to return calls, etc. Good luck!