Thorough Resident screening is the single most important thing you can do to improve your investment. Resident screening is not without its problems. Screenings must be fair and consistently administered so as not to run afoul of Fair Housing laws. Also, screening criteria that are too strict for the property can result is long vacancy times or never renting the property at all. Here are the criteria we use.
- Everyone over 18 must apply and sign the lease
- Felonies must be older than 10 years
- Certain violent felonies are never approved
- Drug charges (regardless of conviction) must be older than 5 years
- No registered sex offenders
- Must qualify on credit
- Income of the household must equal 3 times the rent
- Previous landlord references must be clean (rent on time, damage to the property, trouble with the law)
- Applicants must be over 21 or they need an older cosigner.
- In addition, we also follow the Sioux Falls city zoning ordinance that requires no more than three unrelated people can live in a single family housing unit.
These qualifications have served us well. We use the same qualification for each applicant which steers us clear of any discrimination claims and lawsuits. The requirements are also more strict than is required by properties that are part of the Sioux Falls Crime Free Program. That being said, it doesn’t guarantee tenant behavior. To that end we require the maximum security deposit allowed under South Dakota law. Add to that our optional Eviction Protection Plan and you are about as bullet proof as you can get while still staying within the law and renting out your property in a timely manner.
Trusted by Hundreds of Local Residents
The Kattenberg Brothers have raised the bar for rental companies in this
community. They provide a higher level of professionalism and have made a
meaningful impact on our area.
I had the opportunity of working with Real Property Management over the course of a year as a tenant of one of their managed properties in Sioux Falls, SD. They were more than accommodating and extremely helpful whenever we had an issue. We were always treated as a first priority. Based on firsthand experience, I would highly recommend them to any property owners looking for a top-notch property management team!
I have worked with Josh and Derek for three years. They approach the rental management
business with enthusiasm, energy and a desire to provide excellent client service.