Resident Screening in a Tight Economy

With changes in the economy on everyone’s mind, this is a good time to take a fresh look at your screening practices and find new ways to adapt - from reviewing your criteria to even selecting a new screening company who is more in tune with your needs.

For years, credit reports were the main source for screening. Today there are a number of databases that help and can carry more weight than just a credit report.

Address history is a great new service and helps you discover other places your applicant has lived. The database uses 30 billion records, is searched using a name and social security number and shows up to a 30 year history.

Nationwide Eviction records are also a great source when screening in a tight economy. They are a great indicator of past rental performance.

The common criteria used to be if an applicant had a prior eviction, it was an immediate deal killer. Dealing with prior evictions can be tricky, but maybe they should not be the deal killer they once were.

There may be verifiable reasons for the eviction filing. Did they change jobs at the same time? Did they try to hide the eviction? What was the outcome of the eviction, was it paid, or did they simply move out? Did they appear on the court date? If they tried to hide the eviction, you might be able to keep the deal alive by keeping the ball in your court.

Explain that you know they lied, but you might give them a chance. Increase your deposit, and file your eviction if they are 1 day late. Verify the time frame with the credit report and the eviction filing. Late payments on credit cards may indicate they were trying to pay the rent first.