Any seasoned landlord would know that tenant screening is an essential step in making sure their property is rented out to the right tenants. Unfortunately there are many instances where applicants have been dishonest or misrepresented facts about themselves. False references, rental history and even employment information are all too common. So property owners and managers turn to professional tenant screening services to qualify tenants.
What are Tenant Screening Services?
Often, tenant screening is limited to checking a potential tenant’s credit score, but it is much more than that. Tenant screening services help landlords in verifying a tenant’s identity, their financial situation, and any red flags that may indicate a non-ideal candidate. Landlords may only be able to go by what the applicant provides on paper, in verifying their past tenancies, employment and rent payability. Tenant screening services on the other hand have access to reliable information from a wide variety of data sources and can give a complete and actual picture of who an applicant is.
In general, screening services or credit reports, provide insight into not just their identity, but also public criminal records, debt and eviction history and even a scan of their social media profiles. Most tenant screening services offer their services online, where landlords can create a profile, enter identifying information of an applicant and get a thorough report in a few minutes’ time.
Benefits of Screening Services
1. Accessibility: Tenant screening services are available for anyone who has an internet connection. There are many screening service providers out there that can be accessed with a simple browse. Most screening services just require the applicant’s personal information, a small fee and you leave the rest to them!
2. Speed and convenience: A quick call to an applicant’s previous landlord may seem like a simple thing to do. In reality, it could take a while to reach them, and get the information you are looking for. Imagine searching for an applicant’s public records, looking for the social media information, verifying their rental history by yourself. But with a screening service, it takes a mere few minutes, and can be done from anywhere.
3. Consistent process: One of the advantages of using a screening service that is not given enough importance is that it is unbiased and neutral. A report gives you straight facts, without coloring it with judgment which may come with personal conversations with references. There is no doubt of unfair discrimination when using these services.
4. Stress Free: Screening an applicant gives you a clear understanding of their personality and may even show what you are in for, when you rent your property to them. Though there may be more to any person than what is in databases, you will know you have done your utmost to make a decision on renting to a trustworthy tenant,
What to watch out for in a tenant screening service?
Although the benefits of using screening services are many, they need to be assessed to know which one is the right service for you.
Customer reviews: As most tenant screening providers offer their services online, it is easy to look up reviews from other customers like you.
Compare prices: Check out what their credit and background check reports cover and the price that they offer it for. This way you do not end up paying more for information you do not need.
Source of data: Tenant screening reports may give you a perfect compilation of an applicant’s information, but you may need to make sure that their source of data is trustworthy and reliable. A simple read through the provider’s website will give you the answer.
How does Tenantcube help you screen your tenants?
Tenantcube is an end-to-end property management platform that helps landlords list their property, screen applications and onboard tenants.
The Tenantcube rental application helps landlords collect comprehensive information about prospective tenants as a first step of screening. Right from the application, a landlord can understand how much information the tenant is willing to provide, if they will be able to pay rent regularly and if they are a right fit. Unlike many other screening services, there is no fee associated with their rental application.
For a complete background check, Tenantcube has partnered with SingleKey to provide the most detailed check on a candidate at a very competitive price. Get a complete tenant screening report with financial status, outstanding debts, employment details, eviction history, public criminal records check and a social media check.
Screen Tenants with Tenantcube