Digital Tenant Screening: The Future of the Rental Application

 
 
The evolving economy makes it tricky for property managers to consistently meet occupancy and meet revenue expectations. Digital tenant screening tools can save time and money by improving the application process and decisioning strategies, which benefits applicants and property owners.
 
Establishing digital methods to rate relative risk of your applicants, maintain occupancy, and increase resident quality is the path to a bright future. This is especially important for large organizations in high stakes rental markets need to evaluate many applications daily. No more days of dealing with illegible handwriting, and missing documentation. Most digital tenant screening platforms pull records from large databases and provide results in minutes.
Digital tenant screening platforms collect standard information and provide secure portals for applicants to use.
These screening products will analyze the credit profiles, court records, and income-to-rent ratios to decide if the tenant is a qualified candidate.
These include:
·       Proof of ID
·       Number of occupants
·       Name and contact info of applicant(s)
·       Income statements
·       Employment history
·       History of past addresses
 
Digital screening methods automate the process
Many digital resident screening tools rate customer application data, credit, and public record information on a scale. Property Managers can adjust their acceptance criteria to respond to the evolving marketplace and keep units occupied. Statistical lease screening methods assign rankings to the applications enabling property managers the ability to identify the best possible renters from the applicant pool.
These digital screening methods are save time and evaluate if the if the resid……