With the credit bureaus’ new National Consumer Assistance Plan (NCAP) hot on our heels, it’s starting to look like these future changes could actually improve millions of U.S. credit scores. While a score boost definitely rears in the rental applicants’ favor, these new standards might be a little disconcerting for property managers and property owners where tax liens and civil judgments play an important role in the rental decision.
When it comes to adding a new amenity or enhancing a component in your community, you want to ensure that the investment will be worthwhile. Whether it’s hosting resident events to increase community happiness, or adding an Uber waiting room to replace a lack of parking, every investment must have a distinct purpose. For strengthening security, CCTV Security systems are the best bang for your buck.
Determining if your tenant screening provider has quality criminal and eviction data is essential if you want to maintain a standard when accepting applicants. With faulty or subpar data, you leave your community open to potential threats, which can include extensive damages, lawsuits, fines, and a loss in reputation. To discern if you need to shop for a new resident screening provider, check if your current provider is showing these 3 red flags.
Property managers like you take protecting their rental communities very seriously, and investigating their future tenants is a huge part of the leasing process. While some use shady (and potentially illegal) Facebook research as well as other social media accounts to vet potential residents, ultimately, you are your own Detective Gadget, and resident screening is your primary tool. With your applicant’s background screening report in hand, you can easily look for clues of potential “red flags.”
In the multifamily housing industry, the advantages of having online rental applications and forms are massive. Rather than depending on the accessibility of paper applications (which oftentimes get lost or forgotten by applicants), online rental applications give you the freedom to work outside of the leasing office and attract applicants wherever you may be. While a large part of the rental housing world has already shifted to online applications, it’s important to insure that your applications are equipped with e-signature tools. Without it, you significantly cut down on the benefits of online applications.
ApplyConnect®, the nation’s leading source of secure, consumer-initiated, tenant screening solutions, is offering Apartment Associations, Associations of Real Estate Brokers and Agents, and Vendors to the Property Management Industry a chance to passively boost their revenue by joining ApplyConnect’s® Affinity Partnership Program. Enabling companies to offer their members and website visitors an easy-to-use tenant screening solution through a unique referral link, while earning residual income, the program is designed to be 100% hassle-free.