How can you evaluate and compare applicants using a scoring system or checklist?

1 Define your criteria

When selecting tenants, the first step is to define your criteria. This should include legal and fair housing requirements in your area, as well as the specific needs and expectations of your property. Income, credit score and history, rental history, references, background, pets, and occupancy are all factors to consider. Income should be enough to afford rent and other expenses. Credit should be good with no debts or judgments. Rental history should show timely payments and no damage or complaints. References from previous landlords, employers, and personal contacts should be positive. Background should have no criminal records, evictions, or lawsuits. Pets should meet any restrictions in number and type. Lastly, occupancy should meet standards and regulations.

2 Assign points or weights

The next step is to assign points or weights to each criterion based on its importance and relevance. You can use a numerical scale, such as 1 to 5, or a percentage, such as 20% or 30%, to indicate how much each criterion contributes to the overall score. For example, you may assign more points or weight to income and credit than to pets and occupancy. You should also decide how to handle missing or incomplete information, such as no credit history or no references.

3 Create a scoring sheet or checklist

The third step is to create a scoring sheet or checklist that summarizes your criteria and points or weights. You can use a spreadsheet, a form, or a software to build your scoring sheet. It should include the applicant's name and contact information, the property address and unit number, the date and time of application, the criteria and points/weights, the total score/rank, and notes/comments. Additionally, you should include a disclaimer that states that your scoring system or checklist is not a guarantee of approval or denial, and that you reserve the right to verify the information provided by the applicant.

4 Apply the scoring system or checklist

The final step is to apply the scoring system or checklist to each applicant. You should collect and review the necessary documents and information from the applicant, such as pay stubs, credit reports, rental applications, and references. You should then score or check each criterion according to your scoring sheet or checklist. You should add up the points or weights to get the total score or rank for each applicant. You should also make notes and comments to explain your reasoning and findings.

5 Compare and select the best applicants

The last step is to compare and select the best applicants based on their scores or ranks. You should use your scoring system or checklist as a guide, not a rule, to make your decision. You should also consider other factors, such as availability, compatibility, and communication. You should notify the applicants of your decision and provide feedback if requested. You should also keep a record of your scoring system or checklist and the results for future reference and compliance.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?