“Who makes the final decision on the tenant selection if an owner has their property managed by an agent? Does the Property Manager offer a suggestion to the owner?”
We asked Co-Founder and COO of Rent360, Penelope Valentine for her advice:
“The tenant application,” Penelope said.’s job is to ensure they thoroughly check each
“They need to look at the past rental history of the tenant if there is one, attain personal and work references to establish character and assess affordability.”
Penelope said it is essential that the tenant can show that they can afford the property.
“I used to work off a rule that the rent could be no more 30% of their take-home income or combined income if there is more than one tenant,” she said.
“Once the property manager has completed their reference checks, they surmise this information and present it to the owner.”
“Often the property manager will make a suggestion of who they believe is the best selection, but ultimately it is up to the owner to make the final decision.”