Investor · Saint Louis, MO · Member since 2013 · 198 posts · 25 votes
So, I've found a tenant that I like and want to screen them for Credit, background check, etc. What/who is everyone using for these reports. I've looked at Smartmove, but it seems that the potential tenant has to register an account and fill the information out online themselves.
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
13y
I use YouCheckCredit.com and have been very happy with them. You can get the applicants actual detailed credit report, not just an approval/denial recommendation.
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
13y
I use YouCheckCredit.com and have been very happy with them. You can get the applicants actual detailed credit report, not just an approval/denial recommendation.
Investor · Southeast, MI · Member since 2012 · 2k+ posts · 1k+ votes
13y
I use the service that mrlandlord.com offers. It's $14.95 for for a credit report with score AND an eviction report. The eviction report is worth the price on its own.
There is a one time inspection of your office required for $59. It can be a home office, but they require a lock on the door, password on computer, paper shredder, and locking file cabinet. No big deal.
Investor · Milford, CT · Member since 2012 · 592 posts · 285 votes
13y
Originally posted by Rob K:
I use the service that mrlandlord.com offers. It's $14.95 for for a credit report with score AND an eviction report. The eviction report is worth the price on its own.
There is a one time inspection of your office required for $59. It can be a home office, but they require a lock on the door, password on computer, paper shredder, and locking file cabinet. No big deal.
I'm very happy with it.
I use something similar called "Quick Check Credit Reports" from The Landlord Protection Agency. Its about same price but gives you the option to add other reports, full credit, eviction, background, etc...
I look at full credit history and look for utilities not paid, cc not paid, car payments, etc... if the history shows good standing then no issue. I don't even care for the actual score.
Background can usually be done via the web accessing your states DMV records or run through above service.
Evictions and Small claims can be searched accessing your states records or run through above service.
Then I do employment verification which means they supply me with latest pay-stub which I will follow up with employer to understand how long they been there and what their position is.
If they have a clean credit and background history and 3x Pay to Rent they are ok'd for rental if not I keep moving along.
YES, this is exhausting and lasts a lot longer than a month to fill a vacancy but its a lot better than the alternative which is going to eviction courts and losing up to 3 months rent plus the court fees.
I have very low turnover. Out of 12 units I manage in 4 different properties. I have 2 units that actually have some vacancy every year for the past 4-5 years I have been doing this all the other units have the original tenants.
Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
13y
ben, that's true, but some people just dont share much or have their profile locked to outsiders.
i had one guy that was trying to break his lease claiming health issues and we caught him in a lie since he was posting on there "can't wait to get into my new apartment". he had told us he is moving back to his parents. he had friended my wife a months earlier..what a tool!
oh, we use transunion's service. wifey loves it. costs $25
Commercial Real Estate Broker · Scottsdale, AZ · Member since 2013 · 36 posts · 11 votes
13y
For sake of full disclosure I do business development for a resident screening company on the side so of course I would recommend my own service... :)
But the most important thing is that you 100% no question screen your applicants EVERY time. I can't tell you how many calls we get from people who who have never screened before but only after they went through an evictions process or walked into a unit with thousands of dollars in damages that they'll never recover.
Real Estate Investor · Fenton, MI · Member since 2008 · 946 posts · 153 votes
13y
Originally posted by Rob K:
I use the service that mrlandlord.com offers. It's $14.95 for for a credit report with score AND an eviction report. The eviction report is worth the price on its own.
.
I followed Rob's advice and also used mrlandlord.com. The process is easy. The person who came to my house to verify was cooperative and helpful. She took a couple of pictures, saw that I had a locking file cabinet, a password was required on my computer, and that a paper shredder was in the room. It is a good service.
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
13y
Hey Rick - Why is that a problem if the tenant needs to enter their information when using SmartMove? They need to do the same when they fill out an application. If they aren't motivated to let you screen them with your tool of choice (say SmartMove), then you probably aren't going to get them anyway.
I don't want a tenant who can't comply with my screening criteria -- I'm not going to bend over backwards for them when screening or otherwise -- as the landlord, you need to set the rules and find the tenants who will work within them.
Certainly I'm an advocate for our partners at SmartMove, however, I'd say the same thing for any screening process or other process in landlording.
Investor · Brooklyn, NY · Member since 2013 · 254 posts · 28 votes
13y
Originally posted by Kyle J.:
I use YouCheckCredit.com and have been very happy with them. You can get the applicants actual detailed credit report, not just an approval/denial recommendation.
Kyle, does YouCheckCredit require onsite inspection? If not, does it simply give you a YES or NO recommendation?
I heard only services that require onsite inspection are allowed to provide full credit reports...
Need to do a tenant screening this week, am debating which service to use. The one I used to use only gave me a YES or NO recommendation, I am looking for a service that offers more details without the onsite inspection.
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
13y
Originally posted by Mary Joe:
Originally posted by Kyle J.:
I use YouCheckCredit.com and have been very happy with them. You can get the applicants actual detailed credit report, not just an approval/denial recommendation.
Kyle, does YouCheckCredit require onsite inspection? If not, does it simply give you a YES or NO recommendation?
I heard only services that require onsite inspection are allowed to provide full credit reports...
Need to do a tenant screening this week, am debating which service to use. The one I used to use only gave me a YES or NO recommendation, I am looking for a service that offers more details without the onsite inspection.
Thanks
Mary Joe
They are pretty much like every other tenant screening company....you can get a rental recommendation without having an inspection. However, if you want to have access to the full credit report, then you need to have a home inspection by a third party inspection company.
The inspections aren't difficult or time-consuming and you're not going to be able to avoid having the inspection if you want full access to credit files. It's federal law (Fair Credit Reporting Act) that mandates it, so every screening company is going to have to abide by it.
I recommend just getting the inspection so you can get the full access. The services that just give you a recommendation don't give you enough information to make an informed decision, in my opinion.
Investor · Brooklyn, NY · Member since 2013 · 254 posts · 28 votes
13y
Originally posted by Kyle J.:
Originally posted by Mary Joe:
Originally posted by Kyle J.:
I use YouCheckCredit.com and have been very happy with them. You can get the applicants actual detailed credit report, not just an approval/denial recommendation.
Kyle, does YouCheckCredit require onsite inspection? If not, does it simply give you a YES or NO recommendation?
I heard only services that require onsite inspection are allowed to provide full credit reports...
Need to do a tenant screening this week, am debating which service to use. The one I used to use only gave me a YES or NO recommendation, I am looking for a service that offers more details without the onsite inspection.
Thanks
Mary Joe
They are pretty much like every other tenant screening company....you can get a rental recommendation without having an inspection. However, if you want to have access to the full credit report, then you need to have a home inspection by a third party inspection company.
The inspections aren't difficult or time-consuming and you're not going to be able to avoid having the inspection if you want full access to credit files. It's federal law (Fair Credit Reporting Act) that mandates it, so every screening company is going to have to abide by it.
I recommend just getting the inspection so you can get the full access. The services that just give you a recommendation don't give you enough information to make an informed decision, in my opinion.
Thanks Kyle, you are right, I will do the on site inspection then, it makes more sense in the long run. Thx
Commercial Real Estate Broker · Scottsdale, AZ · Member since 2013 · 36 posts · 11 votes
13y
Insider tip: Most screening companies will "pay" the on-site inspection costs for you if you are going to be running enough applicants to justify the costs. Think of it like an initiation fee at a gym.
Investor · Brooklyn, NY · Member since 2013 · 254 posts · 28 votes
13y
Originally posted by John Sheedy:
Insider tip: Most screening companies will "pay" the on-site inspection costs for you if you are going to be running enough applicants to justify the costs. Think of it like an initiation fee at a gym.
John my biggest concern is that I may not pass the inspection because I am doing all my real estate investments at my employer's office. So the computer, the shredder, the lock etc are all at my employer's premises.
But in any case, this is a small hurdle, I just have to set everything up at my own home before I request the inspection. That's all, not the end of the world by any means.
Commercial Real Estate Broker · Scottsdale, AZ · Member since 2013 · 36 posts · 11 votes
13y
Originally posted by Mary Joe:
Originally posted by John Sheedy:
Insider tip: Most screening companies will "pay" the on-site inspection costs for you if you are going to be running enough applicants to justify the costs. Think of it like an initiation fee at a gym.
John my biggest concern is that I may not pass the inspection because I am doing all my real estate investments at my employer's office. So the computer, the shredder, the lock etc are all at my employer's premises.
But in any case, this is a small hurdle, I just have to set everything up at my own home before I request the inspection. That's all, not the end of the world by any means.
Thanks
Yes you should be fine if you set up your home properly. See link...
Tahoe City, CA · Member since 2010 · 16 posts · 3 votes
13y
Originally posted by Joshua Dorkin:
Hey Rick - Why is that a problem if the tenant needs to enter their information when using SmartMove?
Hi Josh;
The problem is that not everyone has an email address. Apparently, SmartMove cannot work unless the tenant has one. I have a release form but there's nothing I can do with it on SmartMove.
New York City, NY · Member since 2013 · 105 posts · 16 votes
12y
I have used http://myrental.com/ in the past and have been very happy with their services. They do all the reports you would want or need to be done, including credit reports, eviction reports, tenant scores, etc.
When doing a credit report or tenant score (which includes credit report) you will need to have a physical inspection done and the cost of this is $90. It’s a little more than some others but it’s something I have used and am able to trust so it is worth it for me.