The industry used to have rigid standards for screening new tenants: perfect credit, one year at work, three times the rent in monthly income, and good references from previous landlords. But changing times demand new ways of thinking. At Castle, our job is to protect our clients’ assets and make them grow in value; we’ve concluded that in the current economy, a key to doing that is modifying the tenant screening process.
Vibrant, profitable communities start with responsible tenants. That’s why Castle property managers are trained in California fair housing rules, and through decades of experience they can spot problem rental applications immediately. Our home office staff make final approvals based on intimate knowledge of the building and the neighborhood.
Since poor credit is rampant in the 21st century, we don’t use credit scores—we read the entire credit report. An applicant who’s in debt due to medical issues or previous unemployment is different than one who bought too many luxuries. We want a solid work history for good national or local companies, and three times the rent in monthly income. (But two to two-and-a-half times may be appropriate, based on circumstances.) We also ask for two references from previous landlords, attesting that the applicant is financially reliable and well-behaved towards neighbors.
Castle’s tenant screening process is tough, fair, and realistic—sensitive to economic realities and dedicated to strengthening your business.
