How to Screen Potential Tenants

Source: Property Ware

We know that proper tenant screening is critical in property management. But it doesn’t have to be as intimidating as it might sound, especially since most applicants apply online. A property manager who can screen as quickly and easily as a prospect can submit a rental application is likely to get better tenants while reducing the risk of default and bad debt.

Enhanced Propertyware Tenant Screening allows staff to automatically screen every application for a rental property in real-time and provides property managers a comprehensive screening report that’s easy to read.

But it’s no ordinary solution. Using new technology, Propertyware Tenant Screening can be customized to fit screening preferences and separate a good tenant from a high-risk one, while staying in compliance with federal housing rules and regulations. The easy-to-use platform combines advanced technology with the features and capabilities you need most to move your business forward.

Customize screening criteria and cut wait time

Property managers can decide − and rank − which search criteria is most aligned with the portfolio’s business goals to maintain complete control of decision making. Reports are both thorough and easy to read, and instant criminal record searches are at your fingertips. The configurable setup wizard allows for criteria adjustment, and even variation, between portfolios, buildings and units. Instant criminal records searches minimize or eliminate the wait time for status updates.

The overall recommendation score from 0-10 uses an intelligent scoring algorithm that leverages your criteria, similar tenant profiles screened and the combined applicant score to help you minimize delinquency risk. Now, you can make decisions based on the combined scores for all applicants and guarantors on the property – not just an individual score.

Generate easy-to-read reports

With Propertyware, you get a detailed, actionable report with a simple thumbs-up or thumbs-down. Together with a score based on your chosen criteria, not just a pass/fail, this promotes quicker, more informed renting decisions and generates them in seconds.The entire process is done through an integrated solution with no extra work outside the system required.

Add guarantors

When guarantors are needed to approve an application, advanced capabilities provide the right solutions. Guarantor override features allow you to add guarantors based on specified criteria. Also, different screening criteria for applicants and guarantors can be set up.

Offer support

Available online and around the clock, the online portal helps ensure that renters can quickly get the help they need. Propertyware’s Renter Relations team works directly with renters to resolve credit, civil and criminal misinformation.

Manage credit vendors

Propertyware works behind multiple credit bureau support, which allows an automatic fallback order for credit vendors, ensuring credit responses are always available.

Access enhanced rental history

Expanded rental payment history from RentBureau complements RealPage’s current industry-leading rental history database, contributing to better informed screening outcomes.

Easily add applicants

Applicants can be added and removed for a quick, simple and seamless process.

Propertyware Tenant Screening services provide a comprehensive and easy-to-read report, ultimately driving occupancy, mitigating risk and lowering end-of-lease costs.

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