Overview
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Purpose: This guide outlines how to configure rental criteria within Revela to establish thresholds for applicant approval, conditional approval, or denial.
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Target Audience: Property managers, leasing agents, and admins.
Step-by-Step
Step 1: Access Rental Criteria Configuration
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Navigate to the Organization Tab in Revela.
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Select Configurations > Screening.
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Here, you can view and update the rental criteria for each property your company manages.
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Step 2: Understand Rental Criteria Categories
Rental criteria include thresholds that determine the applicant’s leasing outcome. These decisions include:
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Approved: When the applicant meets or exceeds all thresholds.
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Approved with Contingencies: When rental history, credit history, or length of employment falls below established thresholds.
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Approved with Qualified Cosigner: Typically used when the applicant's income is below the required threshold.
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Denied: When one or more deniable factors are present.
Step 3: Establish Key Rental Criteria Factors
When setting rental criteria, consider including the following factors:
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Credit Score: Minimum credit score required for approval.
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Criminal History: Evaluate applicants based on criminal background checks.
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Eviction History: Review prior eviction records as part of the criteria.
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Monthly Income: Define income-to-rent ratios for approval or conditional approval.
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Age: Include age requirements for age-restricted properties (if applicable).
Best Practices, Tips, and Notes
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Align thresholds with company policies and property-specific requirements.
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Regularly review and update criteria to comply with fair housing laws and market trends.
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Provide clear documentation to applicants for transparency in decision-making.
Common Issues & Troubleshooting
Issue 1: Criteria not applied to a specific property.
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Solution: Verify that the rental criteria are correctly assigned under the property configurations.
Issue 2: Applicants being auto-denied for incorrect thresholds.
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Solution: Double-check threshold settings for accuracy in the screening configuration.