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Best Credit And Background Check For Landlords – The difference between a good tenant and a bad one is huge, but it’s hard to tell when you first meet potential customers.
The assessment allows you to gather relevant information to help you determine whether or not the applicant will be a good tenant.
Best Credit And Background Check For Landlords
In the guide below, we’ll break down what tenant screening services cover, how much they typically cost, and review some great tenant screening services.
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If you are an experienced landlord who is already familiar with tenant screening and how it works, you can skip to the best tenant screening services with content.
Tenant screening services provide a way for landlords and property managers to meet applicants for a variety of important information.
The services themselves use different means depending on the service, usually using digital methods to combine online databases.
Tenant screening isn’t a perfect system, but it makes it much less likely that you’ll take on an applicant who isn’t the right fit for you.
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While all of this may sound great, one pressing question in the back of your mind is likely to be price.
However, the investment is worth it for the amount of money it will likely save you on bad or less favorable tenants. Tenants you might otherwise accept
You can keep these costs even lower by selecting the most promising candidates first, so you only have costs for the candidates you’ve screened.
Below is a list of some of the appraisal services we believe are ideal for homeowners and property management companies of all sizes.
Tenant Screening Services For Landlords
Many have unique advantages and disadvantages, such as lowest price and most comprehensive, so you’re likely to find something that fits your needs.
The first option on our list, eRenter, is an especially good choice if you’re on a budget and looking for value.
They’re also particularly strong on customer service, according to customers, so they’re a good choice if you’re looking for an overall good customer experience.
The main downside is that they don’t allow you to bill applicants directly, which is a much-requested feature that most services offer.
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A long-time trusted choice, VeriFirst offers a complete feature set for those looking for a more robust solution.
Despite these features, there are still disadvantages. For one thing, they also do not offer the option of billing applicants directly.
They also don’t have transparent pricing. They require you to contact their sales team directly for more information, which usually means they are expensive.
If you own fifty or more properties, you get a significant discount off the typical price, making it one of the most affordable options for big wallets.
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RentPrep is also for those who prefer a more humane approach to tenant screening, who pride themselves on their experienced recruiting team rather than bragging about the size of their database like many other recruiting services that offer AI-powered instant messaging.
On the other hand, this means that RentPrep is slower than most services. So if you prefer instant reports, this option may not be for you.
If you need legal services beyond tenant screening, First Advantage is a convenient solution that allows you to get everything from one provider.
However, like VeriFirst, First Advantage does not publicly list its prices. You will need to contact them directly for more information on their pricing plans.
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Users also report that the site’s user interface can be a bit clunky and difficult to use, so if you’re looking for something up-to-date and easy to use, this might not be the best choice.
Plus, it’s one of the most comprehensive services on this list, with many other tenant screening services using the SmartMove database and other resources.
If you are located in one of the states above, you may want to use or combine with another service to obtain current criminal records.
No matter which tenant screening service you choose, we hope this guide helps you find something that works for you (and within your budget).
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David is the co-founder and chief marketing officer, best-selling author, CLE legal speaker, and real estate investor. When she’s not with her three kids, she writes articles here! ™ offers landlords, realtors and property managers a tenant screening solution to identify the highest quality applicants.
Avoid the risk of costly evictions and property damage by thoroughly vetting your applicants. And the best part is that you get all this for free with applicant payment option.
The three-digit score summarizes the applicant’s potential risk compared to others. Higher scores predict better tenants
Our proprietary SafeRent Score helps identify tenants who are more likely to pay rent on time, treat properties with care and stay longer. Because it’s based on an analysis of key rental data, it’s more reliable than a standard credit score for evaluating your applicants.
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As the industry’s only statistically validated scoring model, SafeRent Score evaluates potential renters nationwide using sophisticated data and analytics and assigns an easy-to-understand three-digit score, from 200 to 800.
The score is the result of SafeRent’s algorithm, which uses a mathematical analysis of information found in tenant screening reports, rent-to-income ratios and subprime mortgage records.
The three-digit score summarizes the applicant’s potential risk compared to others. Higher scores predict better tenants.
CoreLogic is the leading tenant screening provider in the US, providing more than 10 million reports annually. Trusted by Bad tenants make rent collection difficult, don’t usually tell you about problems with the property, and generally don’t care about the unit itself.
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Before we get into the best tenant screening services, let’s talk about what a tenant screening report looks like and what it usually includes.
While each tool is different, the best tenant screening services allow you to check several points of interest related to a prospective tenant’s potential trustworthiness.
Each of these plays an important role in informing whether said applicant may be a good tenant.
However, with these types of checks, you are much more likely to only accept applicants who will become excellent and reliable tenants.
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Before we get into the best tenant screening services for landlords, let’s talk for a moment about what to look for in a good tenant screening service.
There are other things to look for, such as additional property management features, but those are the basics to get from any great tenant screening service.
Each one has been chosen for different reasons, whether it serves as a good budget option, is easy to use, offers unique features, or is an all-in-one solution.
If you have a large number of properties (volume discounts start at 50+) but aren’t ready to implement full property management software, this can be a good stand-alone solution.
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The addendum to your credit report also does not include a credit score. Therefore, you will only have a credit report to begin with.
The main advantage of using a property management tool over specific tenant screening software is that you usually get a few more useful features with it.
The main downside is that while RentSpree offers a number of features, it is neither the strongest in tenant screening services nor as an all-in-one property management tool.
While this is decent for tenant screening services, if you’re looking for an all-in-one solution, you’re limited in what you can do.
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Property Matrix is another good choice with basic tenant screening capabilities combined with strong overall property management features.
Despite the high price, Property Matrix is a good choice if you want a balance of features along with tenant selection.
Property Matrix’s standard plan is high compared to all the other options at $400 per month, though it covers up to 250 units. Additional units are $1.50 per unit per month.
TenantAlert is listed as a great free option for landlords looking for a simple tenant screening service.
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For added convenience, you can also submit applications to tenants online along with a link to pay the background check.
TenantAlert is a dedicated tenant screening service, so you don’t get any extra features, but it does the job well, especially if you’re on a budget.
It’s not (mostly) free like TenantAlert, though, so keep in mind that if you’re just looking for a dedicated tenant screening service, you’ll need to decide whether the extra features like your income report are worth it. .
In addition, you get access to a complete set of eLeasing features to streamline the entire leasing process.
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Not only will you increase the reliability of the approval process, but you will also make the entire leasing process more efficient.
Check out Tenant Selection Services to see what they can do for you, schedule a free demo today.
Now that we’ve covered some of the best tenant screening tools available, let’s talk about choosing which tenant screening service to use.
Would you rather screen tenants with one software, complete the leasing process with another, do accounting with another, and manage other tasks like:
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With an all-in-one property management platform, you can handle all tenant screening and countless other property management tasks from
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