Tenant Screening. Why it’s important and how we do it.

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Tenant Screening Rochester NY

If you want to find a reliable, responsible tenant you need to have a great screening process in place.  With a proper tenant screening process, you can reduce your risk of becoming the subject of a nightmare story. We maintain the highest standards and remain compliant with all state and fair housing laws. Read on to discover why we have developed a formal screening process for tenant background check.

Background Checks Rochester NY What is tenant screening? Tenant screening is the process of looking into someone’s background and history before initiating a real estate transaction, such as the signing of a lease. A rigorous screening process identifies potential “red flags” and provides opportunities to enhance your customer service – both critical to building beneficial long-term relationships with current and prospective tenants.  The key areas that we look at when conducting our tenant screening are below:
  1. Credit Profile: This includes a full credit report, credit score, open accounts, closed accounts, and collection accounts.
  2. Social Security Number Verification with Address History Report: This report checks that the social security numbers given by tenants are accurate as well as the past 3 addresses given.
  3. Nationwide Eviction Report: This report shows us any evictions that the tenant had nationwide.
  4. Judgments and Liens Report: This report shows all judgments and liens on the tenant.
  5. Bankruptcies: This report shows any past or presently open bankruptcies.
  6. Nationwide Criminal Search: We utilize this to show us the tenant’s criminal history.
  7. Nationwide Sex Offender Report: Especially in multi-family properties, it is important to know if a tenant is listed.
  8. OFAC Search: The purpose is to administer and enforce economic sanctions programs, primarily against countries and groups of individuals, such as terrorists and narcotics traffickers. If someone (an individual or entity) is listed on the OFAC Specially Designated Nationals (SDN) list, we cannot engage in transactions with them, unless approved by OFAC.
  Tenant Screening Report

National Association of Residential Property Managers

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    We at Weichert, Realtors- Lilac Properties are NARPM members. What does that mean for you? NARPM® property managers have heightened expertise and industry knowledge to assist them in doing the best possible job. They are real estate professionals who know first-hand the unique challenges of managing rental property in today’s constantly changing economic and legislative environment. And they know how to manage those challenges to everyone’s benefit. They can maximize rents and income for you; and they will manage the property efficiently, professionally and economically.

Know The Difference?

A NARPM® member stands apart from other property managers and landlords. Unlike many of them, NARPM® members:
  • Have access to numerous educational opportunities.
  • Adhere to the Highest Standards of Professionalism and Code of Ethics.
  • Know important pending legislative items that affect your property.
  • Know rent values and vacancy factors.
  • Have rental applications and consistent screening policies to meet legal obligations
  • Perform thorough move-in and move-out property evaluations.
  • Are personally familiar with reputable painters, electricians, roofers, chimney cleaners, carpenters, landscapers, furnace and appliance repairmen, and other maintenance professionals.
  • They are able to effectively negotiate with tenants, handle difficult issues, and enforce the terms of the rental agreement.
  • Have the ability to recover NSF checks, evict tenants, and collect bad debts.
 

Do I need a Property Manager?

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If you have purchased an investment property and are planning to rent it for commercial or residential purposes, you might want to consider our services. If you’re a first-time investor, you may not realize how time-consuming effectively managing that property can be- you may become overwhelmed in no time at all. Even if you’re a veteran investor, you may think you have enough experience to forgo the expense and manage things on your own, only to find out you’re completely in over your head. Both of these scenarios are fairly common, and a property manager can help you with the operation of your property. [Read more…]