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Which Background Checks are Best for Tenant Screening?

Posted by Ryan Howard on Mon, Aug 29, 2016  |  Share       

Landlords and property managers are wise to consider a potential tenant's background before they decide to rent to them. Not only should you protect your property investment, you may have to think about neighbors, homeowner's associations, security concerns and most importantly, can your tenant pay rent on time? If you go with your gut, you may be shelling out cold hard cash in eviction costs later. In fact, screening before renting can give you peace of mind and a better idea of the person signing the lease agreement. 

Which background checks will give you the answers you need about a new tenant?

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Topics: Tenant Credit Checks, Tenant Screening

Tenant Screening Tips for the Individual Landlord (Credit Checks and more)

Posted by Ryan Howard on Fri, Mar 20, 2015  |  Share       

Independent property owners, including those that are looking to rent out their own home, are right to have concerns. They want to make sure the mortgage can still be paid and on time. They want to know that their beloved home will be left in capable hands with a trusted tenant. Here are a few helpful tenant screening tips for the individual landlord.

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Topics: Tenant Credit Checks, Tenant Screening, Landlords

Medical Debt Reporting Changes on Background Checks

Posted by Ryan Howard on Fri, Mar 13, 2015  |  Share       

Earlier this week, the three major credit bureaus announced that they would be overhauling their credit reporting of medical debt. As a hiring manager or property owner, you may be wondering how this will affect your employee or tenant screening. Let's take a closer look.

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Topics: Employee Background Screening, Tenant Credit Checks, How to read a credit report, Tenant Screening, Employment Background Screening, credit history

What Background Checks do Property Owners Need

Posted by Ryan Howard on Fri, Dec 19, 2014  |  Share       

The tenant screening process is always a bit of a dicey one. You may think that the tenant you're considering is being truthful and they may well be. But the bottom line is that you are letting someone else live in a property that you own or manage. Therefore it's vital that you go as far as your gut tells you and that you conduct a thorough tenant screening process.

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Topics: Tenant Credit Checks, Tenant Screening

What Tenants Want and What They Will Pay

Posted by Ryan Howard on Wed, Aug 20, 2014  |  Share       

As a landlord or property manager, you want to make sure you're offering what tenants are looking for and what they will pay extra for. The following infographic covers the most requested apartment amenities. Some of the main point to consider are:

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Topics: Tenant Credit Checks, Tenant Screening

Background Screening for Student Housing

Posted by Ryan Howard on Wed, Jun 04, 2014  |  Share       

It's becoming increasingly difficult to protect residents, especially if you're in a college town. Just like any other potential applicants, students can either be a good or bad resident.  While it's in your best interest as a property owner to accept only good quality applicants and avoid the bad ones, it's not easy to tell which is which.

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Topics: student background check, Tenant Credit Checks, Tenant Screening

The Value of Rental Payment History in Tenant Screening

Posted by Ryan Howard on Thu, May 29, 2014  |  Share       

When you do tenant screening on applicants, it’s important that you have accurate and updated rental payment information to determine whether they are a good candidate for a lease. One of the best ways to accomplish this is for property owners and apartment companies to report good and bad rental payment histories to Experian RentBureau

Experian RentBureau is the first credit reporting company to use positive rental payment data in their consumer reports. This is important because it can help tenants that pay rent on time to establish a good credit history while also helping owners find reliable tenants for their properties. Along with rental payment history, you can receive information on whether the applicant has had a history of non-sufficient payments, evictions, write-offs or companies trying to collect back rent on the applicant. Since some of this information may not show up on an applicant’s credit report, it’s imperative to have this rental history so you understand the risk of signing them to a lease. 

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Topics: Tenant Credit Checks, Tenant Screening

How to advertise your MultiFamily Property in Craigslist

Posted by Ryan Howard on Tue, Mar 18, 2014  |  Share       

Multifamily property owners have been using Craigslist to connect with renters for years. A few years ago, you could post an ad and use HTML to increase interaction with potential renters. HTML based ads are more detailed, allowing you to provide comprehensive information and images to capture the attention of potential renters.

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Topics: Tenant Credit Checks, Tenant Screening

Effective Tenant Screening can help Reduce Evictions and Debt Collection

Posted by Ryan Howard on Tue, Feb 11, 2014  |  Share       

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On average, it only takes seven seconds to form an initial impression when you meet someone for the first time. You probably don’t have to think very long to remember a time when that first impression was wrong - either for the better or for the worse. With a casual social meeting, an incorrect first impression may have very little impact. However, when evaluating a person as a possible tenant, an incorrect impression can have serious consequences. Effective, initial in-depth tenant screening can help prevent many unforeseen problems.

VeriFirst is a national leader in providing thorough, comprehensive, and timely tenant screening and verification of provided information. Utilizing the easy-to-use and completely customizable VeriFirst system, you can minimize your risk and make informed decisions based on more than just a seven second impression.

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Topics: Tenant Credit Checks, Tenant Screening

When Should Property Owners Conduct a Tenant Screening Check

Posted by Ryan Howard on Tue, Jan 21, 2014  |  Share       

 

Property owners have to make background checks on their tenants in order to be successful. In multi-family units, neighbors are close enough to see each other daily. Tenant screenings are not only important to protect the business from non-paying renters but also to maintain the safety and security of the other tenants from potential criminals. When in the rental application process should you conduct the tenant screening? The short answer to this question is as soon as possible to get the prospective tenant moved in quickly and avoid the holding costs on an empty unit. It isn’t always so easy, however.

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Topics: bad tenants, Resident Screening, Tenant Credit Checks, Taking Chances on People, Tenant Screening, Landlords

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