What counts as normal wear and tear for a property? This is anything that is unavoidable from normal use in a property. However, many renters will cause damage due to negligence, carelessness, and other intentional causes.
In many cases, this damage can be avoided when you select high-quality tenants and have a thorough screening process as a landlord. To get the best results, you should invest in a tenant background screening platform.
Do you want to learn more about tenant background screening? Keep reading this article for the top tips to find the best screening software for your property management!
Consider Pricing Plans
One of the first things you need to consider before choosing a tenant background screening service is how much it will cost you. Some screening solutions will charge you for every report you want to pull, like credit history or a criminal record bpss clearance.
Others are priced per package. Learning more about these pricing plans will help you shop around for a company that fits your budget! On average, you can expect to pay about $20 for every applicant that you screen.
If you run multiple rental properties, you can often negotiate a lower price for bulk screenings. You should also talk with a representative to learn more about hidden fees. For example, some companies may charge you more to screen tenants for criminal and sex offender history.
Still, you should consider this screening software an investment. It will help you avoid low-quality tenants that may cause property damage and other costly issues.
FCRA Compliance
Next, you must find a tenant screening company that is FCRA compliant. The FCRA is the Fair Credit Reporting Act and sets requirements for the procedures you need to follow when obtaining a background report.
This means that you must find tenant screening software that provides accurate, transparent, and fair background checks. For example, you must tell your applicants that you may request a social media background check and get written authorization from the applicant before doing a background screening.
Plus, laws will change over the years. To make sure your company is compliant, you must find an FCRA compliant organization for your background checks.
An FCRA-compliant screening service will stay on top of these changing laws so you don’t have to! This will protect you legally and will ensure that you get accurate results from your screening.
Company Reputation and History
When you are working with another company to do your tenant screenings, it is important that you learn more about the company’s reputation and history.
One way you can do this is by checking online reviews. This will show you whether or not past clients have been satisfied with the services they received. You can also ask another landlord for recommendations for a screening company.
Finally, you need to make sure your screening company has not had any issues in the past with their compliance or accreditation. By doing your research before hiring a company, you will find a reliable company to work with and will prevent many issues with prospective tenants.
If you need a reliable tenant screening platform, Rent Safe can help!
How Fast Are the Screenings Done?
Another important characteristic of a high-quality background screening company is the speed of its services. You need to make sure you find a company that will provide you with efficient results.
When you are a landlord, you want to limit the amount of time that your property is vacant. The longer you have to wait to find a tenant, the more money you are losing on your property! Because of this, you need to find screening software that will provide you with fast results.
This way, you can complete your background checks and get your empty properties filled as efficiently as possible.
Shows Several Types of Screenings
When you are paying for tenant background screening services, you also need to make sure they show several different types of screening.
First, you should make sure they provide credit screenings. This will give you insights into your tenants’ credit scores, their payment history, and more. Credit history will help you determine whether or not an applicant will be reliable with their rent payments and more.
You should also make sure they provide you with your applicant’s criminal record. This will show you more about their past and will help you avoid accepting an unreliable tenant.
Finally, you must make sure your tenant screening service provides multi-state records. If your tenant has moved around this will give you a more complete understanding of their past.
Not Reliant on Algorithms
Finally, you should ensure that you do not hire a background screening company that is completely reliant on algorithms to create their reports. While it is important to utilize technology to get faster, more efficient reports, you also need to combine this with human verification.
Databases and algorithms can make mistakes and may have old information that cannot be considered in your background screening.
By having a person verify the information provided by an algorithm, you will ensure that you get the most accurate information about your prospective tenants.
Need Help With Tenant Background Screening?
When you are a landlord, it is necessary that you invest in high-quality tenant screening software to find reliable tenants. By considering each of these factors, you can find the best tenant background screening platform that will fit your budget and help you find the best tenants.
Do you want to learn more about how to improve your property management? We can help! Our website features information on technology, business, and more and we can help you learn more about finding high-quality tenants.
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