Q3’16 Legislation Update on Credit & Other Data

By: Becky Bower

tenant screeningWithin the past few months, some upcoming and recently passed legislation has arisen. This legislation may affect the credit data and eviction records on your renter’s background screening report.

Senate Appropriations bill includes active duty file freeze provision

The Financial Services and General Government Appropriations Act of 2016 includes a provision inserted by Senator Jon Tester (D-MT) that would require the nationwide CRAs to provide active duty military with a “freeze alert” upon request. Continue reading

Get Applicants Excited over your Curb Appeal This Fall

By: Becky Bower

rental property tenant tipsGetting applicants excited about your rental can be difficult in the colder months. Unlike spring, where your lush landscaping shines the brightest, the browning trees and falling leaves of Fall can put a damper on your curb appeal. By utilizing a few of these tips, you can take advantage of the season and make your property look a little more inviting.

Routine Maintenance & Cleaning Continue reading

How to Read the Renter’s Screening Report Part 3: EVICTION

By: Becky Bower

eviction background checkNow that you’ve reviewed how to read the credit and criminal sections of your renter’s background screening report, it’s time to go over the final segment: evictions. As the 3 major credit bureaus have begun making plans to enact their National Consumer Assistance Plan (NCAP) on July 1, 2017, knowing how to analyze the eviction section is even more crucial. It’s predicted by Experian® that the changes made by NCAP will affect about 96% of civil judgement data, meaning your applicants’ monetary civil eviction judgments may no longer show up on the major credit bureaus’ credit report section (potentially affecting your applicants’ score). By depending on the ApplyConnect®’s eviction information, and not solely on credit data, you’ll get a well-rounded understanding of whether or not a particular applicant is right for your rental property. Continue reading

Why Property Owners Should Hire Real Estate Agents for Rentals

By: Becky Bower

rental property real estateDeciding to turn your property into a rental home is a huge decision that will allow you to benefit from another source of income. That being said, if this is your first time being a landlord, then there’s a huge learning curve ahead of you. By hiring a real estate agent to market, show and select a trustworthy tenant, you can fully focus on maintaining your property while picking up a few tricks from the pros.

While you might not initially think to use a real estate agent when renting out to tenants, hiring one can give you a significant advantage in the rental field. Some of these benefits include: Continue reading

How to Read the Renter’s Screening Report, Part 2: CRIMINAL

By: Becky Bower

criminal background checkWhen you rely on tenant screening reports to safeguard your property, you should make sure you understand the information being reported. Not only will this save you time when interpreting all your applicants’ reports, but it will increase your chances of selecting the perfect tenants. In this segment we’ll be brushing up on the criminal portion of the tenant screening report. If you missed out on Part 1: Credit, you can visit it here. Continue reading

3 Major Credit Bureaus will Remove Most Tax Liens and Civil Judgments

By: Becky Bower

NCAPExperian®, Equifax®, and TransUnion® have announced that they will be enacting their National Consumer Assistance Plan (NCAP), which will affect the three credit bureaus’ reporting of Public Record data. According to Sandy Anderson, Senior Vice President of Client Operations at Experian®, the reason for this change is because they have determined “that some public record data does not meet minimum data standards and service levels for collection and timely updating.” The following standards (or PII) for a record to appear on a consumer credit report will be applied to new and existing Public Record data on July 1, 2017:

  1. The minimum is required of consumer identifying information: name, address, social security number and/or date of birth
  2. The minimum frequency (at least every 90 days) of courthouse visits to obtain newly filed and updated public records is required

Continue reading

How to Read the Renter’s Screening Report, Part 1: CREDIT

By: Becky Bower

How to read an ApplyConnect reportWhether you’re an ApplyConnect® veteran or first-time user, screening your applicants is a vital component of your rental decision process. As your first defense against property damage and crime, knowing how to read your ApplyConnect® report is just as important. In this segment we’ll be reviewing the essential parts of the credit section on your report.

The Information Reported by the Applicant & Experian®

The top of the background report has basic information like your applicant’s name, address, report number and the date the report was requested. Other than the report number (which is used by ApplyConnect® customer service to easily look up the report if you have a question), this is information supplied by the applicant. Beneath this section Experian® delivers identifying information they have available on your applicant. Information such as alternative names, current and previous addresses, and employers will appear. Next to these sections the date that information was reported to Experian (RPTD) will be present. Continue reading