Should I accept the first tenant application?

What should you consider before accepting or declining the first application you receive?

March 2023 | By Fall Real Estate | 5 Minute Read | Tags: Guide, Rent

In this article

  • As a landlord, it is crucial to understand your legal obligations when selecting a tenant application. Don’t hesitate to reach out to your Fall management team for assistance.
  • If you find the right tenant, do not procrastinate in finalising the agreement!
  • Avoid rushing the process just to fill the vacancy quickly.
  • Count on Fall Real Estate to guide you through the tenant application process to help you find the ideal tenant. Feel free to contact us today to learn more.

Exciting news! Your investment property is receiving a high volume of applications, and you now need to decide which one you should pick!

 

Should it be first in, first served?

 

If the first applicant ticks all the boxes and will likely be one of the most qualified applicants to live in your rental property, sign the dotted line!

 

However, this is only sometimes the case. You might also find yourself declining the first applicant for many reasons - so how do you know you are using valid and legal reasons to decline a tenant?

 

Below we have highlighted some important points to consider when choosing your next tenant.

Do not discriminate

In Tasmania, under the Anti-discrimination Act 1988, it is unlawful to discriminate against and decline a rental applicant based on race, age, sexual orientation, gender, disability, parental status, and irrelevant criminal record. Including denying an applicant who owns a guide dog as they are not considered a pet.

 

An investment property owner can only decline a rental applicant based on legitimate business reasons, including declining a tenant because of the insufficient ability to pay rent or a low credit score.

Be ready

Do not delay if the first applicant you have received is the right tenant. You will often find good quality tenants will be approved quickly by other landlords, and you may miss your opportunity for the best tenant for your property by waiting.

 

If the first applicant ticks all the boxes and is ready to move in, we do not recommend waiting for lots of open inspections for your rental property or other applications to roll in before accepting.

 

When you choose Fall Real Estate to manage your investment property, you will only be presented with fully completed and appropriate applications to save you time and prevent you from feeling overwhelmed.

Organising your rental appraisal is the first step to stress-free property investing!

Be okay to decline

While you may be in a rush to get your rental property occupied, do not take the first application simply because you want your rental income to start flowing again. If the first tenant application does not tick all the business reasons for accepting the application, it is best to wait for a more dependable tenant.

 

Waiting for the right tenant, who will be reliable and likely to stay longer and help maintain your property, will save you money in the long run.

 

Our Fall property managers can help you legitimately determine which of the applications will be dependable and look after your property during their tenancy.

Be open-minded

When reading your first application and subsequent applications, remember to be open-minded. You want to avoid having a concrete idea of what a perfect tenant is for you because sometimes you may find the ideal tenant that does not fit into your pre-conceived mould.

Finding the right tenant

When looking through your applications, you want the main focus to be finding the right tenant for your rental property. You should prioritise this over other important factors, including the date they can move in or the highest income couple out of the pile.

 

Our Fall property managers are experts in finding the right tenant for your rental property. From our extensive list of quality and reliable tenants looking for their next property to our professional and experienced property managers competently finding your ideal tenant amongst your applicants.

 

For more information on choosing the right tenant application, read our helpful article here or contact one of our Fall Real Estate property managers, who will help you every step of the way!

 

You will be stress-free in no time!

What Fall can do for you!

Have you started advertising your rental property?

 

Have you created an efficient and professional application form or process for renters to apply?

 

If the answer is no, we can help!

 

We offer a complimentary no-obligation rental appraisal to help you determine your potential rental income in today’s market and have a streamlined application process that makes finding your next tenant a breeze!

 

Finding you an ideal tenant and looking after your rental property is what we do best!

Disclaimer: The information on this website is not legal or professional advice and is general in nature; therefore, the editorial content or articles on this website are intended as a guide only and do not consider your personal objectives, financial situation or particular needs. For more information, please read our Terms of Use and Privacy Policy.

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