New tenants database and reference check - how quick?

[skippyz]

Last week, our property manager in Brisbane QLD received a rental contract from prospective tenants on Monday and advised me with clearance and reference check on Friday morning same week.
(unfortunately, this application was rejected due to unknown profiles.)

This week a new rental contract received on Monday and I am waiting for PM's report of tenants clearance check and reference check.

From your experience,
how soon these checks are cleared/done and PM comes back?
I'd expect it's done within a day or two but obviously it's not the case so far with my current PM....

 

[Josh_G]

Average size office with ample staffing - 24-48hrs assuming the tenant has supplied all information and their current property manager returns rental references in a speedy manner.

It's not hard to use a scanner/fax machine/picking up a phone...

 

[luckyone]

Mine have always done it the same day if they receive the application by around 10am, or failing that at worst the next business day. Your PM sounds slack!

 

[Lil Skater]

Always 24-48 hours depending on references.

If you struggle you call the prospective tenant to advise them to try to get the person to contact the PM as well.

Good applicants are snapped up quickly, so you've got to move quickly!

 

[Tinkler]

Same day operation.......especially if you want to keep the good applicants and tie them up quickly

 

[Sez]

I am for a max of 3 business days - this allows for other agents to be really slack in getting back to you with a reference and for you to call and leave 15 messages before finally catching them in the office and they announce they were just about to call you .

As others have said, it can be slowed down by tenants not providing all the info too.

 

[crest133]

As a PM, I used to work on the best potential applications first.
Some only take an hour - phone calls, double checks against phone books and online directories, ring companies, call backs, recalls, emails, TICA is immediate online.
If any application took several days it'd be because some essential referee was hard to reach or not responding, so I'd call the applicant and make it their problem.
Cheers
crest133

 

[skippyz]

I just received a news today from my PM who confirmed reference but we missed that tenant who accepted another offer from a different owner. Probably this tenant applied/signed multiple contracts last week. We receive her contract on Friday and got her reference today (Monday) but she was already gone.

I understand there are different factors beyond PM's speed to act but I believe good tenants can be accepted quickly like good property so want to act as quickly as possible.

I will probably have to bear a few more weeks of empty period....

 

[crest133]

In a highly competitive market, a PM, like a REA salesperson, could accept an offer or application subject to satisfactory reference checks, which would snare the best tenancy applicants for their landlords against competing PMs.

Hard to find highly motivated PMs who want to excel and grow their rent roll.
Good luck
Cheers
crest133