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First of all, congratulations on your efforts to obtain additional knowledge in your endeavor to be the best property manager that you can become. Being charged with the responsibilities of a multi-million dollar property requires the continuous gathering of information and ideas. This will not only aid in the profitability of your property, but will also assist in maintaining an enjoyable atmosphere for your existing residents. Knowledge is one of the major keys in a successful career in the property management industry.

Finding a good future resident can sometimes feel like finding a diamond in a huge pile of rocks. You may have to reject a bakers dozen before you find the one that passes the vigorous scrutiny you require to keep the property at it's peak. More often than not, managers are stressed by the owners pressure of keeping the vacancies at 3-5 percent, while maintaining high resident standards. As the manager, you find yourself in a catch-22 situation. Darned if you do,unemployed if you don't!

To help ease some of the difficulties in finding the decent future resident,the property manager must have an equally decent qualification program. This program must have the ability to present ten of the top warning signs of the dreaded bad renter. In my previous 15 years as a multi-family property manager, I found the following regiment successful in presenting the top ten warning signs.

The lease application in itself can provide more than ten warning signs. It must be inclusive. This doesn't mean the prospective resident should have to have an attorney to completely fill it out. It should include, vital personal information, employment history, rental and/or mortgage history, credit history, credit score, income sources and grosses, vehicles, plates, and insurance. Also, family references, personal references, and phone numbers with addresses for all. Everything must be verifiable! The first warning sign is gross income. Gross should be at least 3 times the monthly rent. If not, expect to knock on the door the 3rd of each month until there's no answer. The second warning is an incomplete application. The third sign is the inability to explain why it is incomplete. The fourth sign will be any inconsistencies when verifying the information. I could present more warning signs from just the lease, but we're only interested in the top ten.

Part of the program must include a criminal background check. This can provide the fifth sign of possible problems. In the

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