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What is Arrived's tenant selection strategy?
What is Arrived's tenant selection strategy?

Our goal is to optimize the home's market value rent and find quality tenants.

Korin Hedlund avatar
Written by Korin Hedlund
Updated over a week ago

Once the home is listed on the market for rent, our focus turns to tenant selection. Arrived seeks out 2 year leases at the most optimal market rent. The 2 year lease strategy is to ensure our investors are receiving consistent dividends monthly for the lifetime of their investment in the property. In continuing to work with our property management partners, we are guided through the local rental market and make adjustments as needed.

The single-family rental market is subject to a multitude of variables affecting rental rates and time it takes to find a tenant. Time of year is one variable- the market is most active between the end of spring and begins to experience a slow down at the beginning of fall. Arrived and our property manager partners ramp up the marketing to compensate for the effects of the slow season. In slower periods, we may offer tenants concessions in order to compensate for the cold market.

Our property management partners follow the below metrics when searching for tenants:

  1. Setting the right rental criteria

    1. 2+ year lease

    2. Market-value rent

    3. Metrics for quality tenants

  2. Create an online rental listing that sets expectations

    1. Write up an advertisement describing the property

    2. Let tenants know what the process is like if they’re interested in applying

  3. Self-guided, socially-distant tours

    1. Tours require a pre-screening that also verifies prospective tenant identity

    2. Once pre-screening is submitted to PM, PMs will do the self-guided socially-distant tours

  4. What we look for in a rental application

    1. Employment and Income Verification

    2. Rental History

    3. Credit Report and Background Check

  5. Accept tenant! And you’ll be the first to know

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