Managing Your Las Vegas Property 2/3

Qualification of Applicants

  • Step 5: Qualifying a Tenant

We have an application! All completed applications are considered on a first come, first serve basis. A completed application includes state ID, 3 years rental history, income information along with documentation of proof and bank statements, and all information on pets and dependents. All adults must complete an application.

We verify and review employment, references from prior landlord, credit history, and eviction history as reported. In today’s tough rental market, we can no longer just look at credit scores, we must dig deeper into background checks, allowing us to assess the risk of each tenant and either adjust the security deposit accordingly or outright reject their tenancy. It is better to wait longer for the right people, than to occupy your home immediately with the wrong person. Bella Vegas Homes Realty does not discriminate in accordance with state and federal laws.

Credit: Normal credit scores between 620 to 719 are expected. Low credit scores below 619, zero history credit scores, or bankruptcies within the last 3 years can be accepted with a double deposit. High credit scores of 720 or higher are encouraged despite any level of income. Tenants who value their scores are low risk tenants.

Income: We require verifiable income of 2.5x rent. Income sources considered: gross employment income, independent contractor income, self-employment net income, government income such as SSI or disability, royalties or dividends, and alimony or child support. Income not considered is family help, cash, or unreported cash tips. All income is double verified. Bank statements with deposits are required. This double verification helps prevent reporting fraud such as fake pay checks. Tenants who cannot qualify will be asked for a double or triple deposit.

Landlord History: Most recent three years of resident history will be personally verified. We only speak to property managers or owners who self-manage. We also ask for additional verification of past residency such as drivers license and bank statements. Roommates and sub-landlords are not acceptable. We reject applicants who have 3 or more late payments or 2 or more NSF within the last 12 months. Or who have negative reports from prior landlords

Landlord Electronic History: 5 years history will be examined for any debt owed or in collections for such. Applicants will be rejected for such issues.

We collect a $50 application fee for the above work. You are never charged for tenant qualification.

To visit our Anti-Discrimination page, Click on Anti-Discrimination Here

To see a larger detail on how we qualify tenants, Our Page on Qualifying Tenants

To visit how we qualify pets, and assistance animals, Our Page on Animals

NEXT – Lease Preparation and Day-to-Day Management