TOPIC: Re:Applicant Rental History Verification

Re:Applicant Rental History Verification 11 years 4 months ago #4159

You're right to want to approach conditional acceptance in a business manner based on policies and screening. The "compassion" you speak of can come into the picture with how you help a potentially good renter help themselves. Specifically, what does your community offer that let's an applicant clearly demonstrate their desire to pay rent on time? For a person with stellar credit, you may provide e-pay options in the form of credit cards or ACH. For the applicant whose credit has been hurt - for whatever reason, you can also provide an e-pay option that reduces payment risk to your community. NPS provides the only e-pay program in Multifamily based on payroll direct deposit that accumulates "installments" toward rent each pay period on a prorated basis. Funds for rent are put assize with NPS before the renter has a chance to spend them on other needs. The property gets paid on time, and the resident gets the housing they want - and a chance to rebuild credit since payments are reported. A win-win all around.
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Re:Applicant Rental History Verification 11 years 4 months ago #4160

Great suggestion. Specifically how are payments reported?

Re:Applicant Rental History Verification 11 years 4 months ago #4165

Do any of you remember those fax request forms we had to fill out in detail, and then waiting next to the fax for the return cryptic “OK”?

I do remember those days! And sometimes waiting for days,I enjoy the speed of running credit checks through a third party system on site, and having the ability to override the decision of the program when needed, but I wonder how affective the newer systems are, because like many have said, they don't do rental verifications when the credit comes back clean, which is how my company operates, but there is a window of time, and depending on the company the skipped on it may never hit their credit report. Doing rental verifications is the only way I see to avoid this. Anyone else have another way?

Re:Applicant Rental History Verification 11 years 4 months ago #4168

That was actually my original question because my company does currently require the "cryptic" verification form to be faxed back in addition to using LeasingDesk for screening.

Re:Applicant Rental History Verification 11 years 4 months ago #4175

Reported to PRBC. Thanks for asking.
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Re:Applicant Rental History Verification 11 years 3 months ago #4321

Hi David,

We complete Prior Landlord verification on all of our applicants, even if they are approved without conditions by our screening division.

We request a fax or mailed verification to be sent to us, which covers the length of residency, payment history (late or not), and if proper notice was given. We like to go back at least 2 years. If the information is not available via fax or mail, then in our conventional sites ONLY, they can complete a phone verification and possibly a home visit. Of course, if its an Affordable Housing community, then they will be required to have a written notification in the file.

Hope this helps!

Thanks,
Pedro

Re:Applicant Rental History Verification 8 years 10 months ago #10917

Although the property I previously worked with utilized Safe Rent, we were given lead way as to whether or not to approve. For instance as long as there was no criminal history we could approve with conditions. As I am sure you are aware they often include a larger security deposit or more income verification. Again, I want to stress that no one with a criminal history that was turned down by Safe Rent was ever approved in house. We did however; take each individual on a case by case basis and make our best judgement. This often involved calling previous employers and previous property managers. Hope that helps?

Re:Applicant Rental History Verification 8 years 10 months ago #10920

The whole purpose of using a screening company is to eliminate the possibility of someone making an unauthorized rental decision. You can set up Safe Rent screening parameters that will produce an "Accept with Conditions" recommendation. To deviate from your screening company puts you at risk of violating Fair Housing laws.

Re:Applicant Rental History Verification 7 years 9 months ago #13280

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hi,
and thank you for the information. I have only one house and the last tenant caused extensive damages. I need to learn from you where can I check and if I can do it myself and save money. and the tenant I evicted and don't know where they moved to. I need to get judjment on the damages.
  • adnan
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Applicant Rental History Verification 7 years 9 months ago #13281

Not only do we require it, it is a HUGE part of our verification process. We do the civil, credit, criminal check. Heck, anyone can do it and everyone has that fiduciary responsibility. But we place our emphasis primarily in 2 areas: 1) the personal interview, and; 2) the verification of rent.

There is a ton of application fraud going on. The most common is where the applicant puts his/her best friend down as the landlord. We screen for that. Most apartment communities take that option out. For houses we look up the owner through county records. Then we bust 'em! Works like a charm!

You can read our entire screening criteria at www.fullservicepm.com .
  • Peter Nelson
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