A study was conducted in 2018 in which landlords screened their tenants looking for criminal records. To the surprise of many, it was discovered that more than 25% of the tenants had criminal backgrounds! Clearly, this is information that landlords should have known prior to conducting the study. Knowing what we know now, the need for tenant screening is greater than ever. More landlords are attempting to pre-screen applicants to ensure that they rent to the right people. Obviously, not everyone with a criminal background should be barred from renting property. But there are some instances, such as drug trafficking and the like, that need to be taken into very serious consideration. Thanks to tenant screening services, landlords can now actively get the scoop on potential tenants and make the best decision for their rental communities based on the data that these services provide. To give you a head-start on choosing the best tenant screening service for your rental business , we have collected the best ones presently available. The following services are highly-rated, accurate, and reliable. With any one of these entries at your service, you can effectively ensure that you rent to qualified tenants.
As a branch of Fidelis Screening Solutions, one of the most popular employee background screening services, RentPrep acts as a similar service but for potential tenants. RentPrep consists of an in-house team that consists of FCRA (Fair Credit Reporting Act)-certified screeners who actively perform more than 30,000 tenant screenings each year. So effective and reliable is RentPrep that Iowa’s own city of Cedar Rapids entrusted the company as its official tenant screening service. RentPrep’s stellar reputation and commitment to providing exceptional customer service are just a couple of the many reasons the company ranks so highly. When you entrust RentPrep to serve your screening needs, you can look forward to the following services:
The data that RentPrep collects is verified by its screeners to make sure that all information is accurate and current. What’s more, landlords who use RentPrep can typically look forward to getting screening results in as little as one hour. Furthermore, RentPrep excels in customer service. You can contact their support team either by email or phone Monday through Saturday to assist you with your inquiries. Combined with their fast turnaround times, it’s no wonder why so many landlords trust RentPrep to handle their screening needs. Even more impressive is that RentPrep uses live screeners. This is what allows the screening company to verify that information is up-to-date and accurate. Using RentPrep is fast, easy, and efficient – all the more reason to hire them for your tenant screenings. Price-wise, RentPrep is very reasonable. There are a couple of services offered, and the price is affected depending on what you need. Let’s break down the two services provided by RentPrep and the cost associated with both. Background Check ($18.95 per tenant)
Full Credit Report ($38 per tenant)
In order for the Full Credit Report to be completed, the tenant will need to respond to an email from RentPrep. At that juncture, the results will be given to them. As a landlord, you can have your tenant be responsible for paying for the full credit report, as well. Additionally, RentPrep offers the following add-on features:
MyRental is a service that is provided by CoreLogic Rental Property Solutions. Founded in 2010, CoreLogic has expanded its locations throughout the United States. MyRental is designed to serve:
To ensure that you are receiving up-to-date and accurate data, MyRental regularly updates its website 24 hours a day, 7 days a week. What’s more, its databases are subject to a 7-layer quality control system that serves to verify all information collected. MyRental is an effective tool for landlords, as it offers a wide range of services to help you with your screening needs, including:
Thanks to MyRental being available at all times, landlords can use this service and get the information they need whenever necessary. Reports come quickly, with most landlords receiving results in under an hour. Unlike RentPrep, MyRental doesn’t implement live screeners. Therefore, the collected reports aren’t independently verified. Be that as it may, customers who have used MyRental are very pleased with its services and the accuracy that it provides. Thanks to quick results and effective measures in its tenant qualifications, MyRental is a viable solution for tenant screening that landlords can count on. There are two plans that you can choose from for your screening needs. Let’s discuss each plan and its accompanying pricing structure. We’ll also look at some standalone features that you can purchase if you don’t require the in-depth screenings offered. Basic ($24.99 per tenant)
Premium ($34.99 per tenant)
Additionally, you can opt to buy a report on an individual’s eviction history for $7.99, as well as an individual’s credit report for $14.99.
Avail is a property management program that is designed for landlords who wish to perform screenings on their own. This software lets landlords screen tenants and includes many other helpful features for those who are managing their properties. You can manage rent collection and leases, as well as use tools to assist in marketing your property. Avail currently holds a rating of A+ with the BBB. Avail is not, however, an accredited company. This software is best served for landlords who manage 10 or fewer properties. That said, there are packages available that are designed for landlords with more extensive portfolios. At present, 150,000 landlords use Avail for their screening and management needs. When you invest in this software, you get access to a litany of educational material via Avail’s website, which can assist you in managing your rental properties. If you prefer, Avail has an option that lets you pass on all screening fees to your tenants. That said, Avail has free services, as well, in the form of its property management. Criminal, eviction and credit checks cost $30 each. Or, you can bundle all three together for just $55. Then, simply choose the plan below, either Unlimited or Unlimited Plus depending on the services that you require. Unlimited ($0 per unit)
Unlimited Plus ($5 per unit)
Avail is ideal for landlords who are comfortable using software to manage their own affairs. If you’re the type who likes to keep a tight rein on your properties and you don’t mind putting in the extra work to perform your own screens, this might be the best fit for you.
At one time, the screenings that these services provide wouldn’t have been available so quickly. Such is the power of technology. Landlords can now see close to real-time details about prospective tenants and make the best decision for their rental communities. We hope our guide helped you in deciding which service to use in your rental properties. If you would like more articles related to business and finance, we encourage you to explore our blogs . There, our Seek Capital team has compiled a wealth of helpful articles to assist you. We discuss topics such as small business loans, credit cards, accounting, and much more. We strive to be a leading resource for small business owners . If there is anything that you would like to discuss about your business, we invite you to contact us any time. Our specialists are here to assist you in any way that we can. To date, we have helped secure funding in excess of $400 million. If you require financial backing, please don’t hesitate to reach out to us. We will work hard to make sure that you get the funding your small business needs at a rate that you’re comfortable with. Sources https://www.rentalresearch.com/rental-history-report/statistics-all-landlords-should-be-aware-of/ https://fidelisscreening.net/ https://www.corelogic.com/solutions/rental-property-solutions-consumer-assistance.aspx