Landlords have an important
decision to make when selecting a tenant to rent their investment property
year-round. Property owners have traditionally interviewed prospective tenants
in person and asked for references, which relies on going off a “gut-feeling”
and talking to people you don’t necessarily know. But there are online tools
that can assist landlords in performing a rental background check. This
additional screening tool allows landlords to see various aspects of a
prospective tenant’s past behavior as well as get an idea of their likelihood
to make timely payments.
These tenant screening services
are used by landlords and property managers and are a critical step in
protecting your rental property. These online companies help landlords conduct credit
checks, review the tenant’s credit, criminal, and eviction history, and obtain
an estimate of their income. Many landlords even pass this cost onto the
prospective tenants.
Three of the top tenant screening
sites that landlords can use are:
·
SmartMove by
TransUnion at www.mysmartmove.com; services start at $25 and can be paid by
either the landlord or tenant
·
RentSpree at www.rentspree.com; service prices were not disclosed and are
paid for by the tenant and include online rental application, full credit
report, credit score, criminal background check and 50-state eviction report
·
RentPrep at www.rentprep.com; service packages start at $18.99 and range
from full credit report with score, social security number verification and
address history, nationwide eviction report, judgements and liens, bankruptcies
and nationwide criminam and sex offender search
Other
top sites include: Buildium, LeaseRunner, National Tenant Network, MyRental,
Experianv Connect, Turbo Tenant and Screening Works. In order to run a credit
check on a prospective tenant, the tenant will first have to consent to the
release of their credit report. But, the tenant screening services send each
applicant an email containing a link to a credit bureau where they can
authorize this release.
Lauren Bunting is an Associate Broker with Atlantic
Shores Sotheby’s International Realty Inc. in Ocean City, Maryland.
Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.
