What Is Tenant Placement?

 

The #1 Source of Landlord Horror Stories (and How to Easily Steer Clear)

We’ve all heard the horror stories—landlords who dipped their toe into rental ownership and ran for the hills after a nightmare tenant. We’ve been there too, and we have the scars to prove it. But here’s the truth: most of those horror stories could have been avoided with proper tenant screening.

Why So Many Landlords Have Bad Experiences

The biggest problem? Selecting unqualified residents. The kind who don’t pay rent, damage your asset, or leave you hanging on short notice. In contrast, qualified residents pay on time, respect the property, and often stay long-term.

The Secret to Success: Tenant Screening

This is the “secret sauce” behind successful rentals. Screening and vetting applicants is a core part of tenant placement, also known as lease-up.

Full-service property management companies like us typically charge a placement fee, which can range from a flat fee (like our $450) to a half or full month’s rent. It’s money well spent to ensure a solid start.

Step-by-Step: Our Lease-Up Process

1. Market Rent Analysis

We analyze current rental data to ensure your property is listed at an attractive but competitive rate. If rent is too high, you’ll get few or no applicants. Too low, and you leave money on the table. Our goal is to attract multiple qualified applicants without wasted marketing time.

2. Advertising the Property

We post high-quality photos of a clean and appealing home on:

• Our website
• Zillow
• Other syndicated sites
• Social media
• Realtor.com (if applicable)

Each listing includes a description, basic qualifying criteria, and instructions for applying or scheduling a tour.

3. Pre-Screening Applicants

When someone requests more info via Zillow, we direct them to our pre-screening form. It asks:

• Do you have pets?
• Do you smoke?
• Do you have verifiable income?
• When are you looking to move?

This helps weed out unqualified or non-serious inquiries quickly.

4. In-Person Showings

We don’t use self-guided tours at this time, but it could be where the industry is headed. We prefer meeting candidates in person to get a sense of who they are and how they present themselves. Showings also let us highlight features of the home.

5. Application Processing

Applicants may apply via Zillow or our own free online application. For every adult (18+), we review:

• Credit score and payment history
• Background checks (court/legal history)
• Past landlord references
• Employment verification

Owners can set their own criteria, or we’ll use standard guidelines like rent-to-income ratios and credit minimums.

6. Lease Signing

Once approved, we prepare a lease agreement using the standard Indiana Bar Association form. We attach our Additional Provisions addendum outlining the do's and don'ts, required disclosures, and the Move-In Condition Form—your tenant’s chance to note any pre-existing wear or damage. This form must be returned within 5 days of move-in.

260 Property Management: Set the Stage for Success for Your Property in Fort Wayne

Everyone is happy when the keys are handed over. Rent and deposits are all collected, and expectations are clearly shared. But none of this happens smoothly without professional tenant placement.

Your team at 260 Property Management has the experience, systems, and attention to detail needed to get this critical step right.

💼 Ready to Protect Your Rental Investment?

Contact 260 Property Management today and let us handle the hard work of finding, screening, and placing high-quality tenants—so you can rest easy and enjoy the benefits of stress-free property ownership.