Why is the application process so difficult?
Our goal as a Property Management company is to serve our community and help keep neighborhoods safe. Property Owners hire us to manage an asset/property for them worth usually over $250,000. Often our interaction with potential tenants is limited to a few hours in total before we need to decide if we should entrust that tenant with taking care of our client’s property. In order to do our due diligence and learn as much as possible about a tenant, we pay for certain reports and perform reference checks to help us make as informed a decision as possible. There are costs associated with the reports we access and our team’s time.
You are requesting to rent an asset that may be worth over $250,000. As you can imagine, if a tenant decides to not pay rent or damage a home, the owner can end up losing thousands of dollars very quickly. It often takes an owner 30 years to pay off the mortgage on a home. While it may take the property owner 30 years to pay off the home, it can take just a few minutes for thousands of dollars of damage to be done to a property.
Most property owners depend on the rent payment to pay for their mortgage. If a tenant does not pay, often times it takes many months to get a tenant out. If the rent is not paid, the owner can be foreclosed by the bank because they are not able to make the mortgage payment. Tenants not paying rent or damaging the property have caused many owners to lose homes in Humboldt County.
The only way for us to help reduce the chance of that happening to our property owners is by doing professional checks on potential applicants. We believe that the vast majority of people are honest and reliable, but a small minority can cause massive problems and because of this we are required to be diligent. The desired outcome of the screening process is to minimize the risk of approving individuals that may negatively impact the property and our community.
Our goal is to assist you with the application process as quickly and as smoothly as possible. We look forward to working with you.