July 2, 2010, Newsletter Issue #167: Tenant Screening

Tip of the Week

More tips on avoiding bad debt: Tenant screening used to be a manual process that required the property manager or a service to check references and application information - a time consuming and expensive process! If you are a first time property manager, you are lack the sophistication to evaluate an application. You don´t know what you don´t know! If you hire a service it can take too long and cost more money than its worth.

Online tenant screening services eliminate all of these problems. Internet-based real-time tenant screening services can feature systems that help landlords to establish a tenant profile (the type of tenant they are looking for) based on multiple parameters. The system evaluates each applicant and tells the prospective landlord “recommend” or “not recommend.”

The service also evaluates the credit of a potential tenant. Some of these services also checks applicants against eviction databases and perform criminal background checks.

If you register for a service like this you can also often report your delinquent tenants to Experian, Equifax and TransUnion as well as to organzations like the Delinquent Tenant Cooperative who offer consultation and advice.

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