What must a property manager do when they receive a rental application?

When a property manager receives a rental application, conducting a standard background check and verifying the applicant's information is a crucial step. This process typically includes checking the applicant's rental history, credit report, employment status, and any criminal background, which helps in assessing whether the applicant meets the criteria set by the property management. This due diligence is essential for making informed decisions that protect the property owner's interests and ensure a stable and responsible tenant is selected.

Effective verification not only informs the landlord's decision but also serves to mitigate potential risks associated with renting a property, such as late payments or property damage. By adhering to fair housing laws and providing a thorough evaluation, the property manager can maintain a reputable rental operation and establish a good relationship with both property owners and tenants.

The other actions mentioned, such as immediate approval or requesting additional fees without notification, do not align with best practices in property management, as they could lead to negative outcomes for both the landlord and potential tenants. Additionally, providing uncertainty about acceptance results can lead to a lack of trust in the property management process.