Withdrawing tenant applications after approval

melbourne-property-experts

Initially I thought it was just Infolio that was dealing with this growing epidemic, but after speaking with a couple of other local agents it appears it’s not just us.

We have noticed a trend recently where tenants are submitting multiple applications on properties they have seen and liked. I suppose their motivation is to see which one they get approved for, but to hedge their bets in the event they don’t secure their favourite.

This is extremely frustrating for a property manager. We spend all morning providing feedback to our landlords, then process the applications in hand. This process take several hours of calling, taking references, returning calls and conducting credit checks. We then approve the applicant, only to be told ‘they are holding out for another property’ or ‘they have taken another property’. We then have to call back the landlord (never a pleasant call) and go back to the drawing board.

As a consequence of this ever increasing issue, we have decided to put in place new scripts in dealing with these applicants. We will be asking the question straight up if they have applied for any other properties, however we will also ask if this property is their first preference. If it is not, then we wont start checking their application until such time as we are convinced this property is the right match. This is only a little step in the process, but hopefully it helps. If everyone does the same thing, perhaps prospective tenants will stop filling in two to five applications per weekend.

You know what I liken this scenario to? Restaurant’s deciding not to take bookings – first in, best dressed. Restaurants started heading down this avenue because diners were booking multiple restaurants for the weekend then deciding on the night where they would dine. The diner wouldn’t bother calling the other restaurants to advise they wouldn’t be dining there, rather leaving them unable to re-book a table and miss out on the income for their nightly trading.

When did people get this way?

Image © Marcusarm | Stock Free Images

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