Screening your tenants is essential for landlords and property owners. By protecting the property you’ve invested your time and money into, you’re also protecting yourself financially. A credit report, employment history, income reports, and debt reports of your potential tenant will be reviewed during the screening process.
You have a few options to choose from when it comes to screening your tenants. The first option is to manually screen your tenants. You will need to exert more time and energy on this one. It’s common to use tenant screening services instead of manual credit checks because they save time and offer accurate information that can be integrated easily.
If you would like to get professional advice on tenant screening services, search the tsci.com website. TSC offers property managers and landlords a great alternative to the expense of full tenant screening.
There are a few things to know if you’re considering using an automated tool for tenant screening. We’ve put together a list of five things you should know about tenant screening services and how you can go about getting started today!
The Rental Application And Approval Are Still Necessary
To run the report, you will still need permission and a rental application before you begin the tenant screening process via a service.
You will find personal information on tenants on the rental application. An online application provides you with information such as an applicant’s current residential address, email address, phone number, first and last name, employment history, employment history, and even debt-to-income ratio. As well as seeing their bank accounts and financial details, you can also see their profile.
Reports On Your Credit And Income Will Be Available
If you use a screening service, you should know what information you can access. Your potential tenant’s credit report and income history are the most vital pieces of information you can find. Here is a look at how they can be accessed and how they are affecting your decision.
When determining which tenants are trustworthy and which are not, credit score and history are key factors. The credit score illustrates a tenant’s money management skills. Having a low credit score may indicate that they make late payments or have a large amount of debt.
It is possible for a tenant to have a low credit score simply because they have never used a credit card or borrowed money before. The tenant’s ability to pay consistently and on time is often evaluated based on their credit score and credit history.
The History of Income
Rent history and reports are also part of our tenant screening services. A financial profile includes employment history, an estimate of how much an individual makes per year, as well as other information. In order to ensure your tenants can pay their rent, it’s essential to access their income history.
Depending on the landlord, some tenants must make four times as much income as they pay in rent. We can provide screening services, provide interpretation of data, or both.
Ensure Your Background Is Checked Automatically
You need to know that our tenant screening services provide you with automated background checks. Criminal records, public records, past bankruptcy records, and eviction records are included in these background checks. You can interpret this data and make an informed decision once you have access to a tenant’s background.
Obtain Information From Each Of The Three Credit Bureaus
With our tenant screening service, you will receive credit reports from the three major credit bureaus.
Check your credit reports, history, and data with Equifax, TransUnion, and Experian. You can use our services to get instant access to the information you need about your tenants.
Easy Integration Of Credit Report Services
In order to use our tenant screening services, simply complete the onboarding process. A representative will explain how to integrate this service with your platform. Regardless of whether you need turnkey solutions that can be installed within one day or custom integrations that may take a little longer, our experts offer both. We can integrate tenant screening products seamlessly into any platform you choose!