How We Screen Our Rental Applicants

One of the most important aspects of property management is the selection of a tenant. We realize that if we place a high-quality, long-term resident, who pays their rent on time, and takes care of the property - everyone benefits. The results of our industry-leading screening process speak for themselves.

 

We have processed over 5,200 rental applications so we know exactly what to look for (and what to avoid) in a high-quality resident. 99.5% of our tenants pay rent each month and our eviction rate is less than 1% per year.

 

In the rare event we do place a tenant who does not pay their rent and has to be evicted, we will pay 100% of the legal costs associated with the eviction process (to a maximum of $1000) through our Risk Mitigation Guarantee.

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Our technology allows prospects to sign up for automatic notifications of upcoming rental properties. This speeds up the leasing process and creates a virtual “waiting list” for upcoming vacancies.

We do not charge any type of minimum management fee during the vacancy of a property. We only charge our management fee as a percentage of the actual rental amount we collect. So when your property is vacant, you do not pay any management fees.

 

 

Overview of SB23-1099

Our applicant screening process complies with "SB23-1099 - Concerning Tenant Screening Documentation For Residential Leases" and "SB23-184 - ..Prohibiting a Landlord From Considering Certain Information Relating To A Prospective Tenant's Income Or Rental History, Establishing A Maximum Amount That A Landlord Can Require As A Security Deposit..".

 

Overview of SB23-184

This law removes the most effective tool landlords have in determining the likelihood that an applicant will pay rent on time - their credit score.

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For subsidized applicants, landlords may no longer consider their credit score, lack of credit score, or adverse credit event. For non-subsidized applicants, landlords may still consider their credit score.

This law also expands the definition of "housing subsidy" to include "any portion of a rental payment that is derived from a public or private assistance, grant, or loan program and that is paid by the program directly, indirectly, or on behalf of a tenant to a landlord" As 'source of income' is a protected status in Tennessee landlords may NOT decline an applicant based on their subsidy status.

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Our 12-point applicant screening process + TRANSUNION Resident Score Model 4.0

1. Income

2. Employment

3. Credit *in compliance with SB23-184

4. Pre-qualifications

5. Eviction Check

6. Landlord Verification *if required

7. Sex Offender Check

8. Public Records

9. Criminal Check

10. Bankruptcy Check

11. Pet Verification

12. Collections History