Rental housing laws surrounding your application, resident screening, and the decision process are constantly evolving, and it can be tough to keep up. While the leasing process has grown to become time-consuming and complex, it’s vital that you not only establish written rental criteria but update it annually to adapt to the changing multifamily housing
Credit scores (or “credit risk scores”) are widely used within the rental housing industry to gauge a rental applicant’s financial prowess. You know the drill – generally, the closer your score is to 850, the easier it is to secure loans, lower interest rates, and rental housing. While you might know all about credit scores
With more multifamily housing professionals working from home, ensuring all your leasing processes are digitized is more important than ever. Integrating your resident screening with your property management software allows your team to access quality background reports easily while working remotely. While using a pre-set screening solution provided by your software service might be convenient,
Criminal records for rental decisions have become increasingly restricted over the past few years, and those efforts could be accelerated. As many local and state prisons and jails have released prisoners early during the coronavirus pandemic, there are concerns post-COVID that those previously incarcerated could become a protected class. As a protected class, resident screening
As the COVID-19 pandemic has shaken the nation in the past few weeks, state and local governments have responded to the threat of mass evictions in varying ways. Unfortunately, outside of HUD housing, there is currently no nationwide rental housing guidance on how to handle the financial fallout from renters unable to pay rent due
A background check is one of, if not the, most important part of a property manager’s job. You can hire someone for day to day tasks, if your repair guy didn’t do a perfect job fixing the sink then you’ll survive, you have insurance for the big issues, blah, blah, blah, but background checks for
CIC has released credit, criminal and eviction data trends from 2019’s final quarter, October through December. The quarterly data analysis highlights the number of rental applicants that have criminal and eviction records on their tenant background checks, as well as the average FICO credit score. The analysis showed that, for the most part, many tenants
As I scroll through my social media pages, I often come across these polls passed along by friends, family and colleagues. It sounds like a fun way to get to know someone a bit better or to see how well you actually know that special someone in your life. Okay, this will be fun. As
Lenders and credit granters use your credit score to figure out how likely you are to pay them back. Lower credit scores mean a higher risk of not being paid on-time, which means higher rates or security deposits for you. Higher credit scores provide added confidence that you will responsibly pay your rent or bills
In the background screening world, there are sizable differences between employment screening and resident screening – yet both are commonly referred to by job applicants and rental applicants alike as background reports. So, what’s really behind your resident and employment reports? We’ve got all the answers on what makes these two consumer reports so different,