QUESTION: Hello everyone. In the new norm of communication overload, and doing the COVID balance, are we still checking rental references or not?
Thank you everyone for the awesome comments and genuine sharing. Y’all
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We do if the application is accepted with conditions ie a higher security deposit but if the application is approved with a standard deposit we don't. It's the same policy as before Covid.
For those that dont do rental verifications, which is absolutely shocking to me, must the applicant have good credit instead? To me I could care less what your credit score is if you have good rental. Dont care if your Mastercard is paid on time, I do care if you paid rent on time!
Absolutely! I’m frequently shocked how few rental verifications I receive for the residents that move out of the property I manage. Really blows my mind!
I recently applied for a new rental myself- and the company that I rented from 4 years ago refused to do fill out a reference check. Stating “it’s our company policy to not”. Who does that? This is a MAJOR player in the Midwest as well. Blew my mind.
Doing extreme rental verification and employment verification. Doing all we can to stop any fraudulent application we even had an HR individual verifying employment at a very prominent hospital here in Houston and almost got away it until we noticed a small little error. So if your not being careful in B or C properties than best of luck.
If I was a renter now days I'd get a copy of my tenant ledger showing a zero balance from every LL that I've had and keep them in a safe place to be able to prove my rental history and to be able to provide a copy to all future LLs when previous ones decide to stop verifying, go out of business, sell the property or change software programs so they can no longer access old records
I wonder if next year more companies will stop putting as much weight on rental debt. I think it would be more important to know if rental debt is from uncollected rent and fees, or from damages. Anyone can go through a tough period in their life, but a good tenant would leave their apartment without damages.
Credit bureau rent reporting has been really helpful to verify past rent. shows amount paid, and what month, sometimes missed payments. I think this could be the future of verification, some landlords have tenants they are "too busy to respond to verification" and may want new tenants...
Could someone please explain "Credit Bureau reporting" as mentioned in one post here? Also, as mentioned previously, credit score is not as important in my process as a past eviction (pre-Covid) or past damages. Evictions and damage judgments are easily discovered from online court records.