I want to run background & credit checks on potential tenants, and I'm trying to choose between Transunion's SmartMove vs. Cozy's Tenant Screening.
I expect many here are partial to SM as they appear to have been a BP sponsor in the past, but does anyone have experience of both? I'm leaning toward Cozy so far simply because I feel they have a more professional-looking interface.
Also, how do you typically initiate the process with people who want to apply? Give them the web address of your application page (as in Cozy) or collect their email address and send them a link (as in SmartMove)?
I want to run background & credit checks on potential tenants, and I'm trying to choose between Transunion's SmartMove vs. Cozy's Tenant Screening.
I expect many here are partial to SM as they appear to have been a BP sponsor in the past, but does anyone have experience of both? I'm leaning toward Cozy so far simply because I feel they have a more professional-looking interface.
Also, how do you typically initiate the process with people who want to apply? Give them the web address of your application page (as in Cozy) or collect their email address and send them a link (as in SmartMove)?
Hello Andy,
Great question! With so many options out there it seems many people are unsure what system to go with to screen tenants. I've heard all good things from these programs.
You want to make sure you find a program that does both a credit report, and a background check. Some programs will give you credit history and criminal history in the same report. I must say that is always very helpful.
Things I like to keep in mind when screening tenants are:
Have them sign an authorization form, which allows you to look up their credit report and do a background check. Never simply look at a credit SCORE, but make sure you look at the whole REPORT. Someone could have a good score, but owe a lot of money on collections. (I know, but it happens)
Analyze their credit report and if you feel comfortable, do a background check and make sure their criminal history checks out.
Another key factor is employment history. Make sure they have a job of course! You also want to make sure they have had the job for more than a few days. Remember their ability to keep their job (or have a steady income) will directly effect their ability to pay the rent.
We always have them submit pay-stubs. 2 - 3 most recently ones give us the information we need. You want to use that information to check to make sure they have enough money to pay their bills, including the rent. We don't normally ask for a license until they are signing documents, but that might be different depending on your state.
Please let me know if you have any questions!
I personally could never leave that background search completely to a service. I look at their facebook page (found pics with him and his homeys and guns), google for name and city and 'mugshot' and have found several.
I will do a reverse owner search on the address that they supposedly last lived and trace the owner and call them, instead of the ph# they give me. I also call the # they gave as last landlord and ask questions, that will tell me if they're actually just a friend.
I think a service would just follow an A-B-C- plan, which doesn't always work with the kind of tenants I deal with.
I personally could never leave that background search completely to a service. I look at their facebook page (found pics with him and his homeys and guns), google for name and city and 'mugshot' and have found several.
I will do a reverse owner search on the address that they supposedly last lived and trace the owner and call them, instead of the ph# they give me. I also call the # they gave as last landlord and ask questions, that will tell me if they're actually just a friend.
I think a service would just follow an A-B-C- plan, which doesn't always work with the kind of tenants I deal with.
Michaela goes the extra mile! That can be a great idea. Hopefully you have the time to be able to do that research. If so, i recommend a Google search of course.
You never know what you can find when you search for them on the internet. Just make sure you are not judging the tenants based on their personality (ex. their political beliefs)
Yes, good point @Michaela G.
you be surprised at what you find when a Google it, just a little bit.
Had a tenant who had never seen the house and wanted to sign the lease as she was relocating. Her boss was also moving during that time and we kept missing each other. They both worked at a university and I did a check on the Universities website and confirmed on Linked-in. Depending on rent price you will find those tenants on Linked-in. I doubt anyone fudges on that site.
I use a 2 step process as well. I have been very pleased with the automatic bank draft option from Cozy. It is FREE! Yes free. I was skeptical at first, but it has worked like a charm this year. They have also included a way to take separate one-time payments. I had a tenant who backed into the garage door, and I was able to collect the repair cost in 2 payments. I haven't used them for background checks yet, but I have used them for credit reports. It provides the necessary account/creditor information. I'm satisfied with it, having used it for 2 years now. It draws the information from Experian, and uses their score. This is how I see the account specific information.
I have used National Tenant Network or NTN for about 5 years for background check, and their DecisionPoint to guide me based on their uniform criteria for accepting applicants based on credit. They also do background checks. In NC, where there has been issues with the justice reporting system, they aren't participating in multi-state backgrounds so I do have to pay extra for the statewide report which takes a couple of more days. This approach currently works for me. I haven't used TransUnion though I am interested.
@Michaela G. I also do my own online searching to verify statements, and I have uncovered numerous inconsistencies from potential tenants. I've no doubt I have saved myself some serious headaches. I have done this very same thing last week, and I contacted the current landlord of a potential tenant. Turns out they lied on the application, and gave me their neighbor as their landlord who hates their landlord.
Being out of town, I sent a letter to the owner. She called, and she was not even given a 30 day notice. Although, they were scheduled to move-in with me in 2 weeks. They had issues with each other throughout their relationship and were planning to stick her. They hadn't paid their rent, and were going to use the rent as a deposit to my rental even though they just resigned a year lease in February. I immediately rejected their application for lying on it, as it says clearly on the signature line of the application for this. I co-sign this approach.
I personally had a terrible experience with Smartmove. I recently rented to a tenant that Smartmove showed only had 1 arrest for possession of MMJ. Months after renting to the tenant and having nothing but problems we ran a background check with the state, the tenant has an 8 page criminal record with over 8 arrests, somehow SmartMove managed not to show any of this. I personally will never rely on SmartMove again and would highly recommend against this service.
Recently Zillow Rental Manager started offering a new service via Checkr (for background checks) and Experion (for credit check). Zillow used to offer Smartmove earlier. Is new Zillow offering better than Smartmove or equal or less? Also how do these 2 compare with MyRental service which seems to be very highly rated?
Any advise would be appreciated. Thanks