Partner relationships
Partner relationships
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RentPrep Property Management Software: BiggerPockets Review
Oct 12, 2020
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RentPrep is a tenant screening service that may be used by any landlord or property manager. However, RentPrep is most likely best for landlords who personally manage one to 25 units. Those who currently utilize comprehensive property management software systems may already have similar screening features available to them.
RentPrep is a tenant screening service with a necessary human element that increases the trustworthiness of the screening reports.
RentPrep is a tenant screening service with a necessary human element that increases the trustworthiness of the screening reports.
Stephen White, owner of RentPrep, described their services in our BiggerPockets forums, saying, “RentPrep has been around since 2007 and is unique in the tenant screening industry because we are a real screening company with FCRA Certified Screeners. When most reports provide instant info straight from a single database, we create each report by hand by researching multiple record sources. Because of this, our reports are more comprehensive and contain the eviction and criminal records that are misfiled and never make it into the databases.”
Pricing
There are two tiers of RentPrep screening, both with optional add-ons for an extra charge.
RENTPREP BACKGROUND CHECK
RENTPREP BACKGROUND CHECK
The basic RentPrep Background Check currently runs at $18.95 with an additional criminal and sex offender search for $4.00, a credit decision report for $9.95, and an income verification report for $10.00. The Background Check is paid for by the landlord and does not require tenant interaction.
SMARTMOVE FULL CREDIT REPORT
The SmartMove Full Credit Report costs $38.00. A judgements and liens report can be added for $4.95 and an income verification report costs an additional $10.00. The Full Credit Report can be paid for by either the landlord or the tenant and requires tenant interaction.
Landlords with 50 or more units can apply for a package discount with RentPrep.
Pros and cons
For the most part, RentPrep’s screening services are well-received by real estate investors. Most of our forum users report good data and excellent support.
However, even White acknowledges that nothing is entirely foolproof, including RentPrep. He says, “Unfortunately there will always be people who will go way out of their way to beat the system. But as landlords, all we can do is have solid screening procedures in place to catch these and perform our due diligence. Tenant screening is a lot like hand sanitizer that kills 99.9% of germs––there will always be that small percentage that slides under the radar.”
With this in mind, landlords should weigh the following pros and cons to determine if RentPrep is right for their tenant screening needs.
PROS
- Manual report creation and SSN checks
- Quick turnaround time
- Credit checks backed by TransUnion
- Good customer support
- Can choose the level of applicant interaction and payment method
CONS
- Some features only available as add-ons
- Reference checks have limitations (no more than 3 messages)
- Limited by local data sources, as are all screenings (judicial reporting varies by district)
Tools
As mentioned, RentPrep offers two distinct products for screening. The tools included in each package differ slightly, so landlords can choose the services that are right for their situation.
RENTPREP BACKGROUND CHECK
RENTPREP BACKGROUND CHECK
- Manual SSN verification
- Eviction check at a national level
- Bankruptcy screening
- Judgement and lien data
In addition, users can pay for a criminal screening and a credit decision report, which will give an applicant’s credit range (not the credit score). RentPrep will also verify income with the applicant’s employer for a fee.
SMARTMOVE CREDIT REPORT
SMARTMOVE CREDIT REPORT
- Manual SSN verification
- Eviction check at a national level
- Bankruptcy screening
- Criminal and sex offender data
- Full credit report including credit score
SmartMove customers can also pay an add-on fee for judgement and lien screening as well as income verification.
Certified screeners work to gather applicant data, which provides an increased level of accuracy. White says, “We manually pre-search the SSN to be sure it's correct, and if it's wrong, we fix it and run the background check with the correct SSN we found.” He also mentions that when checking references, they leave up to three messages with a previous landlord or employer.
Since there are many ways to obtain tenant screenings, customer service is the key to RentPrep’s success. With the exception of reference checking, report turnaround time is usually between one to two hours, and the RentPrep staff is available to field questions in person during business hours.
Andrew Schultz from Buffalo, NY, says, “I use RentPrep exclusively for all my tenant screening needs. I find that their prices are fair, the information is fast and very accurate, and their customer service is great.”
Michael Alber from Rialto, CA, agrees, saying, “The site is easy to navigate. Their chat option is nice. I had a handful of questions, and they quickly responded and helped guide me.”
Real estate investors and RentPrep
Any landlord can benefit from RentPrep’s screening services, though it may be more attractive to those with a smaller portfolio. RentPrep’s comprehensive screenings are priced well and thoroughly checked. DIY investors could use RentPrep as part of their property management toolkit and incorporate it as part of their regular turnaround routine.
However, some investors may choose to use other methods that are more streamlined to their current procedures. RentPrep only offers screening, whereas other companies may offer screening as a part of a larger suite of products. While RentPrep may be preferable because of the personalized, hands-on service, landlords should double check that they're not paying for services which have already been obtained elsewhere (as a part of a software package, for example). In addition, if RentPrep is chosen for screening data, it’s wise to ensure that information from RentPrep will interface with any other property management systems used by the investor.
Learn more on BiggerPockets:
- How to Become a Landlord: Managing Rental Properties for Real Estate Investors
- What Does a Property Manager Do?
- How to Run a Tenant Background Check
RentPrep not for you? Read more property management reviews.
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