Like any company that assesses risk, we have a set of objective measurements we use to lower the risk in accepting tenants. We call this our underwriting process and through the years it has allowed us to keep evictions at 3% of all tenants we place.
Interested applicants are directed to our screening/application page to determine if they want to proceed. Once they elect to make application the entire process can be completed on-line from the site. Most of the criteria can be reviewed for consideration within 24 hours.
The screening is a combination report compiled through computer databases and human interaction. Each applicant is reviewed for their credit history-to include FICO scores, eviction history and past residence checks, employment and wage confirmations, and state and national criminal database checks. We then utilize this information and apply it to an approval matrix to determine the level of acceptability of a tenant. If the matrix tells us to approve a tenant, we contact the owner with a brief description and confirmation.
During the underwriting process, we review the potential tenant’s employment history, credit history, criminal history, and eviction records. We also obtain a Tenant Resident Verification form from their current landlord (if they have one), which includes questions pertaining to the following.
- duration of their lease
- how much they are currently paying per month
- history of late payments
- and a request for any notable information regarding their stay at the residence.
If a potential applicant has any evictions or small claims judgments on their record within the last 5 years they are not approved to rent one of our properties. Additionally, if a tenant has a history of not upholding their responsibilities at or causing damage to their current residence, they are not approved to rent one of our properties.
All of these steps are taken in effort to ensure respectful, highly qualified tenants are placed at your property.