Life as a rental property owner can be either sweet or sour and it usually starts with the people who occupy your property. When you live long enough you start to realize that people and their behaviors usually do not change. Sure, some people have set-backs and they are often people who need to rent. When a set-back makes sense, it usually shows in one part of the screening but not in the others. For instance, a divorce might show in poor credit, but employment screening and past landlord history should not be affected. Or medical issues can result in charge offs and judgements, but again not so much on the employment and residence eviction checks.
We use a very comprehensive system for providing our owners thorough background on their applicants. Our system is not just limited to credit. We screen FICO scores, Evictions, Criminal background, Sex Offender and previous landlords to dig up all the factors about the applicants. We also do this on the applicants dime so we know they are serious.
When a party is interested in renting your property they receive an email with a thorough application and a credit card is required. They pay for their background report on line. It only costs them $17 but it tells us they are serious. It also takes a few days to get back all of the information as actual phone calls are placed to employers and landlords. So, the applicant can’t expect one of these automatic approval or rejection scenarios.
When we receive the report we review it with you. Privacy guidelines do not allow us to give you a copy but we can tell you enough to allow you to confirm our recommendation. The results of this system? It has been a year since we last had to post for a tenant to move out and they did not even have to be evicted.
As I said, these reports assist greatly in sorting out a bump in the road called life, or a problem with character. The former usually is a good bet, while the later is to be avoided.
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Tags: Indianapolis Property Management, Property Manager, tenant issues, tenant qualifications, tenant screening, Wilmoth
